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Banking Move

9/7/2011 12:00:00 AM   

Sri Lanka Cargills to set up bank

Sri Lanka’s Cargills is to get into banking with central bank approval being received to set up Cargills Agriculture and Commercial Bank, a stock exchange filing said.

It said the application for a banking license had been made jointly by Cargills and its parent C T Holdings, formerly known as the Ceylon Theatres group, who are the joint promoters of the new bank.

The filing said Cargills had got provisional approval from the bank supervision department of the central bank to set up the bank.

Source: LBO