DFCC Bank PLC has announced that it has entered into a binding agreement to acquire the wealth and retail banking business of Standard Chartered Bank’s Sri Lanka branch (SCB Sri Lanka) for Rs. 3.7 billion, subject to applicable taxes and regulatory approvals.
The transaction, finalized through a Business Sale Agreement signed on November 12, 2025, follows approval by DFCC Bank’s Board of Directors on November 9. The acquisition will be fully funded through internally generated funds, with the bank maintaining all required regulatory ratios.
The deal encompasses Standard Chartered Sri Lanka’s Priority Banking, credit card, retail lending, deposit, and SME portfolios. DFCC Bank stated that the integration will ensure a smooth transition for customers and staff, maintaining continuity of service and relationships.
“This acquisition aligns with DFCC Bank’s strategic growth agenda to strengthen its retail and wealth management franchise, build scale, and deliver long-term value to customers, employees, and shareholders,” the bank said in a statement.
The transaction is expected to be completed by early 2026, pending approval from the Central Bank of Sri Lanka. DFCC Bank will issue a further announcement upon completion in line with Colombo Stock Exchange Listing Rules.
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