Thursday Mar 12, 2026
Thursday Mar 12, 2026
Thursday, 12 March 2026 05:42 - - {{hitsCtrl.values.hits}}
The Hong Kong and Shanghai Banking Corporation (HSBC) has formally notified customers that its Retail Banking operations in Sri Lanka will transfer to Nations Trust Bank PLC (NTB) from 1 May 2026, marking the final phase of the global bank’s exit from the country’s consumer banking segment.
In a communication to customers, HSBC confirmed that accounts, credit cards, and retail loan portfolios will move to NTB following the completion of the sale of its Retail Banking business for Rs. 18 billion in September 2025.
The transfer is expected to take effect on 1 May, after which the affected banking relationships will be serviced by NTB.
Customers will receive welcome letters from NTB with their new account numbers, debit and credit cards, cheque books where applicable, and instructions for digital banking access. The bank said these materials will be delivered ahead of the transition to help customers prepare, though they will only become active once the migration is completed.
HSBC branches and express banking centres will close as usual at 3 p.m. on 30 April, including ATMs. Customers will be able to continue using their HSBC debit and credit cards, internet banking, and mobile banking services until 7 p.m. on the same day.
After that time, all HSBC retail banking platforms will cease operations as systems are migrated to NTB. During the transition window beginning at 7 p.m. on 30 April, customers will temporarily lose access to all accounts and services including ATM withdrawals, card payments, and online banking until NTB systems come online.
Both banks have advised customers to plan payments and cash requirements in advance to avoid disruptions during the transition.
HSBC said existing fixed deposit rates and loan terms will remain unchanged until the end of their contractual period. Thereafter, interest rates will be recalculated according to NTB’s internal rate policy and prevailing market conditions.
For other banking products, NTB tariffs and pricing structures will apply from 1 May.
HSBC Sri Lanka credit cardholders will receive replacement NTB Mastercard products as part of the transition. HSBC cheque books will become invalid after the transfer, although cheques issued prior to the transition date will continue to be honoured for up to two months, subject to funds being available in the replacement NTB accounts.
Customers with powers of attorney or account nominations under HSBC will also be required to submit fresh documentation once their banking relationships are transferred to NTB.
Following the transition, HSBC branches in Sri Lanka will begin operating as NTB branches from the first working day after the transfer, with the exception of the branch located at HSBC’s Head Office, which will continue functioning as a Corporate Banking outlet.
HSBC thanked customers for their longstanding relationship with the bank and said steps were being taken to ensure a smooth and secure transition to NTB as the Retail Banking business formally changes hands.
