NATIONS TRUST BANK
Nations Trust Bank to acquire HSBC’s Retail Banking Business in Sri Lanka
Nations Trust Bank PLC (NTB) is pleased to announce the signing of a binding Sale and Purchase Agreement to acquire Hongkong and Shanghai Banking Corporation’s (HSBC) Retail Banking business in Sri Lanka.
This transaction covers the retail banking operations of HSBC Sri Lanka, which includes premium banking customers, credit cards, retail loans and accounts of approximately 200,000 customers. As such, this agreement will further enhance NTB’s ability to serve a larger share of Sri Lanka’s premium retail banking clientele and augment its strategic goals.
Demonstrating its financial strength and disciplined approach to growth, Nations Trust Bank has funded this investment entirely through internally generated funds; underscoring its robust balance sheet, operational resilience, and long-standing commitment to sustainable expansion.
“This is a pivotal moment in our journey and reflects our strong commitment to growth, innovation, and service excellence,” said Hemantha Gunetilleke, Director / Chief Executive Officer of Nations Trust Bank. “As a leader in the premium retail banking segment, we are proud to build on our strong foundation and take a bold step forward in expanding our customer reach. The strong alignment between the two banks in terms of culture, brand ethos, customer focus, and financial stability is expected to support a smooth transition for HSBC’s clients and its people.”
NTB was the first local bank to offer Private Banking in Sri Lanka 25 years ago and has a market leadership position in the credit card industry. This acquisition will reinforce Nations Trust Bank’s leadership in the premium retail banking space and reflect its continued commitment to delivering exceptional value to clients.
Nations Trust Bank looks forward to welcoming new colleagues from HSBC SL. With a culture built on respect, integrity, collaboration, and excellence, the Bank remains committed to fostering a conducive environment where people thrive, grow, and contribute meaningfully to a shared purpose.
This transaction is subject to mandatory regulatory approval and is expected to be completed in the first half of 2026.
