Press Articles


Sri Lanka’s Cargills Group to set up own bank

9/7/2011 12:00:00 AM   

Cargills (Ceylon) PLC, owners of the Food City supermarket chain and gradually progressing to many other business ventures in the new post-war economy, is launching a new bank named, Cargills Agriculture and Commercial Bank (CACB).

In a notification to the Colombo Stock Exchange on Wednesday, the company said Cargills and C. T. Holdings PLC (holding company) as joint promoters had been given provisional approval by the Central Bank to set up the bank, subject to ‘fulfilling routine terms and conditions’.