Tuesday Mar 03, 2026
Tuesday Mar 03, 2026
Tuesday, 3 March 2026 06:01 - - {{hitsCtrl.values.hits}}
Cargills Bank PLC said that the Central Bank of Sri Lanka has directed its Board to meet specified interim capital targets and reduce the combined shareholding of its major shareholders, Cargills (Ceylon) PLC and CT Holdings PLC.
The directive follows earlier disclosures dated 1 July 2025, 30 July 2025, 13 February 2026 and 17 February 2026.
Under the interim targets, the bank is required to maintain a minimum total capital of Rs. 16 billion by 31 March 2027, Rs. 17.5 billion by 31 March 2028, Rs. 19.0 billion by 31 March 2029, and Rs. 20 billion by 31 December 2029.
In parallel, the combined shareholding of the bank’s major shareholders, Cargills (Ceylon) PLC and CT Holdings PLC, is required to be reduced to 45% by end-March 2027, 35% by end-March 2028, 25% by end-March 2029 and 15% by end-December 2029.
In February, CT Holdings and Cargills disposed a combined 10.05% stake in Cargills Bank in the market, reducing their combined stake to 50.66%,
As of end-September 2025, Cargills (Ceylon) PLC held a 37.09% stake in the bank as the biggest shareholder, followed by CT Holdings PLC’s 23.62% stake, with the public holding at 39.14%.
