📈 DFCC Bank to Acquire Standard Chartered's Retail & Wealth Business in Sri Lanka!

• Major Acquisition: DFCC Bank PLC has entered a binding agreement to acquire the entire wealth and retail banking business of Standard Chartered Bank (SCB) Sri Lanka. • Scope of Deal: The acquisition covers Priority Banking, credit cards, retail lending, deposits, and the crucial SME (Small and Medium Enterprises) segment. • DFCC Strategy: This move strengthens DFCC Bank’s retail and wealth management proposition, aiming to broaden its customer base and build scale in key growth segments. • Funding: The transaction will be entirely funded through DFCC Bank's internally generated capital. • SCB Focus: SCB's global strategy will see it concentrate resources solely on its Corporate and Investment Banking (C&IB) business in Sri Lanka going forward. • Staff & Customers: Both banks are committed to a seamless transition for all customers and SCB's wealth and retail staff, who will be offered comparable roles at DFCC. • Timeline: The deal requires approval from the Central Bank of Sri Lanka (CBSL) and is expected to be completed by early 2026.