Banking giant HSBC will wind up its retail banking operations in Sri Lanka by mid-2026, it was announced on Wednesday. It is one of the island nation’s oldest foreign banks.
HSBC is selling its retail banking business to Sri Lanka’s Nations Trust Bank (NTB) for SLR 18 billion.
In a letter to the Colombo Stock Exchange, the NTB said it entered “a binding sale and purchase agreement on 24 September 2025 with the Hong Kong and Shanghai Banking Corporation (HSBC) to acquire its retail banking business carried out in Sri Lanka for a consideration of 18 billion Sri Lankan Rupees.”
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