HSBC to Sell Sri Lanka Retail Banking Business to Nations Trust Bank

HSBC Sri Lanka retail banking operations will be sold to Nations Trust Bank PLC (NTB) under an agreement covering about 200,000 customer accounts, credit cards, and retail loans. The deal, announced after a strategic review, includes an offer of employment from NTB for all HSBC staff supporting the unit. HSBC’s corporate and institutional banking operations in Sri Lanka will remain unaffected. The sale is part of HSBC Group’s global simplification strategy launched in October 2024 to sharpen focus on competitive strengths. HSBC said the transaction is expected to close in the first half of 2026, subject to regulatory approvals, generating an immaterial pre-tax gain. Both banks pledged a seamless transition for clients and employees.