Friday Jul 04, 2025
Friday, 4 July 2025 00:06 - - {{hitsCtrl.values.hits}}
The Central Bank of Sri Lanka (CBSL) has given Cargills Bank PLC extended time till end-2029 to achieve the minimum capital requirement of Rs. 20 billion from the current Rs. 11.89 billion.
This was pursuant to the request made by the bank to the CBSL Director of Bank Supervision, after which the CBSL’s Governing Board has given an extension.
The CBSL has directed the bank to raise approximately Rs. 2.5 billion in equity capital through market mechanisms by end-2025, and through this action, to reduce the holding of the major shareholders of the bank to 50%.
The CBSL also conveyed that the maximum shareholding percentage of the major shareholders in Cargills Bank be reduced to 15% by end-2029.
The stated capital as at 31 March 2025 was Rs. 11.89 billion. Cargills (Ceylon) PLC and related party CT Holdings PLC collectively own 60.6% stake in the bank.
The bank’s Common Equity Tier 1 Capital Ratio is 16.57%, whilst the minimum requirement is 7%. Total Tier 1 Capital Ratio is 18.80%, whilst the minimum requirement is 8.5%. Total Capital Ratio is 19.49%, whilst the minimum requirement is 12.5%.
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