Hatton National Bank PLC (HNB), Sri Lanka’s second largest Private Bank, announced the successful acquisition of full ownership of Acuity Partners (Pvt) Ltd today.
With this acquisition, HNB has rebranded the entity as HNB Investment Bank (Pvt) Ltd, further strengthening its position as a key player in the country’s investment banking sector.
Acuity Partners was previously owned equally by HNB & DFCC Bank PLC, and operated through multiple subsidiaries that provided specialized financial services:
Acuity Partners (Private) Limited, which offers corporate finance and advisory services.
Acuity Securities Limited, a primary dealer for government securities, licensed by the Central bank of Sri Lanka.
Acuity Stockbrokers (Private) Limited, a Member of the Colombo Stock Exchange and a leading Stock Broking Firm in Sri Lanka.
LVL PLC, A venture capital company and majority shareholder of LVEF PLC.
LVEF PLC, A venture capital company, specializing in investments in the energy sector
These entities have performed pivotal roles in strengthening Sri Lanka’s financial services landscape by delivering expertise and value addition across the financial services spectrum.
The rebranded HNB Investment Bank will offer a comprehensive range of services, including mergers and acquisitions, debt and equity capital market services, and advisory solutions.
The acquisition marks a strategic move by HNB to align the investment bank’s operations with its long-term growth objectives, leveraging its strong financial foundation and expertise to expand its footprint in the financial services industry both in Sri Lanka and overseas.
“We are pleased to welcome Acuity Partners as a wholly-owned subsidiary into the HNB family, and to unveil its new identity as HNB Investment Bank,” said Damith Pallewatte, Managing Director and Chief Executive Officer of HNB PLC.
“This acquisition and rebranding reflects our commitment to delivering a full spectrum of investment banking solutions to our clients and enhancing our presence in the capital markets both locally and overseas.”
The transition to HNB Investment Bank is expected to drive growth by capturing new business opportunities and delivering tailored services to a broader clientele, further reinforcing HNB’s overall market influence and capabilities.
The new investment bank will continue to operate with a strong focus on its core areas while exploring new growth avenues in line with HNB’s broader vision. It will also leverage HNB’ vast customer network and digital capabilities to deliver superior service and innovative financial
solutions.
HNB’s initiative underscores its commitment to broadening its service portfolio and enhancing its role as a comprehensive financial solutions provider.
The Bank remains dedicated to delivering exceptional value to its stakeholders through innovative strategies and transformative
investments.
Ray Abeywardane, Managing Director / Group CEO of HNB Investment Bank added ‘This transformation represents a significant milestone for the Group, positioning us to deliver unparalleled value to our stakeholders. By uniting our capabilities and expertise, we are confident in our ability to spearhead innovation and elevate Sri Lanka’s financial sector to new
heights’