DFCC Bank Secures Shareholder Approval for LKR 15 Bn Capital Raise 📈

DFCC Bank PLC concluded its 70th Annual General Meeting (AGM) and an Extraordinary General Meeting (EGM), marking seven decades of operations with a strategic push to bolster its financial position. • Capital Raising: Shareholders approved a special resolution to issue up to 150 million Basel III-compliant, Tier II, subordinated, unsecured, redeemable debentures. • Financial Impact: The issuance aims to raise up to LKR 15 Bn (par value of LKR 100 per debenture) with a tenure of up to 10 years. • Strategic Intent: The funds are earmarked to strengthen the bank’s capital base, supporting its growth trajectory and expanding lending and investment activities. • Governance: All AGM resolutions, including Director reappointments, were approved, signaling strong shareholder confidence in the bank’s leadership and disciplined capital management. This move aligns with evolving regulatory requirements and ensures the banking sector remains resilient as DFCC enters its eighth decade of operations. _(Based on official AGM/EGM proceedings)_