Nations Trust Bank PLC (NTB) has entered into a binding agreement to acquire the retail banking business of HSBC Sri Lanka for a consideration of LKR 18 billion. 

The transaction, which was approved by NTB's Board of Directors on September 23, 2025, will be funded by internally generated funds.

The proposed acquisition covers HSBC Sri Lanka's retail banking business, including premium banking customers, credit cards, retail loans, and accounts of approximately 200,000 customers. 

The transaction also includes an offer of employment to staff currently supporting the retail banking business to ensure a smooth transition for customers.

According to a corporate disclosure to the Colombo Stock Exchange (CSE), the deal is expected to be completed in the first half of 2026. 

The acquisition is subject to mandatory regulatory approval from the Central Bank of Sri Lanka. 

NTB stated that the move will reinforce its leadership in the premium retail banking space and reflects its commitment to delivering exceptional value to clients.