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Amalgamated DFCC Bank starts operations today

Oct 01, 2015 (LBO) – Amalgamated DFCC Bank has officially kick-started its commercial operations from today on-wards after receiving the approval from the registrar general on Thursday.
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The Bank has received the Certificate of Amalgamation in terms of Section 244 (1) (a) of the Companies Act.
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Accordingly, the DFCC Vardhana Bank has been amalgamated with DFCC Bank in accordance with the provisions of Part VIII of the Act, with DFCC Bank surviving as the amalgamated entity.
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DFCC Bank has also obtained a commercial banking license from the Monetary Board of the Central Bank in terms of the Banking Act, the Bank said in a stock exchange filing.

The amalgamation of two banks was unanimously approved by the Shareholders of both banks on the 28 August 2015.
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