NDB, Union Bank respond to Daily FT story

Thursday, 22 August 2013 00:57 -     - {{hitsCtrl.values.hits}}

In response to the Daily FT story yesterday titled ‘NDB eyeing Union Bank,’ the two banks issued separate statements. Union Bank Director and CEO Anil Amarasuriya said the bank had not had any discussions with NDB Bank PLC regarding a possible merger/acquisition and the information stated therein was inaccurate. NDB in a clarification pertaining to certain content set out in the article said: “We wish to state that no formal discussions pertaining to such an acquisition/investment have taken place as at date as suggested by the article.” “While acknowledging that NDB’s strategic expansion aspirations have in the past included inorganic growth, we reiterate that NDB remains optimistic in exploring all viable expansion possibilities. Thus, should NDB be presented with any favourable proposals, such acquisitions/investments would be carried out in adherence with all prevailing laws, regulatory rules and guidelines,” NDB added.