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Thursday, 01 May 2014 - 18:05
Sri Lanka banks, finance firms in consolidation talks.
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The Central Bank said that all banks and non bank lenders in Sri Lanka directed by the regulator, have given broad plans on a consolidation, and some are in talks on acquisitions or mergers, in a bit to reduce the number of smaller institutions in the country.

The Central Bank said in a statement that satisfactory progress was made in the consolidation process during the month of April this year.

The Central Bank said it is also reviewing the regulatory framework of banks and non bank lenders following the consolidation.
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