Industry Analysis

Multi Finance PLC Completes Merger with LB Finance PLC

  • August 7, 2024

Multi Finance PLC has officially merged with LB Finance PLC following the approval of a special resolution at an extraordinary general meeting held on June 28. The amalgamation was carried out in accordance with the Companies Act No. 07 of 2007, meeting all regulatory requirements. The Department of Registrar General of Companies (DRGOC) has validated

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Industry Analysis

Fitch Assigns Final ‘BBB+(lka)’ Rating to HNB’s Basel III Subordinated Debt

  • August 6, 2024

Fitch Ratings has assigned Hatton National Bank PLC (HNB, A(lka)/Stable) a final National Long-Term Rating of ‘BBB+(lka)’ for its proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures, amounting up to Rs 12 billion. This final rating aligns with the expected rating assigned on April 4, 2024, following the receipt of documents confirming previously received information.

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