Apr 02, 2019

RDB acquires Lankaputhra Featured

Regional Development Bank (RDB) has acquired Lankaputhra Development Bank Ltd and with effect from April 01 all banking activities of Lankaputhra Bank have been taken over by RDB.

Reportedly,the RDB has taken over all the assets and liabilities of the Lankaputhra Bank.

The Treasury has acquired Lankaputhra Bank of which the total share capital is valued at Rs. 1.47 billion. Accordingly, the RDB has decided to issue new shares to Treasury to settle the transaction.

Furthermore, all employees attached to Lankaputhra Bank have also been recruited by the RDB.

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