Boston Consulting Group gets advisory role on DFCC-NDB merger

Friday, 18 July 2014 00:13 - - {{hitsCtrl.values.hits}}

Boston Consulting Group (India) Ltd. has been retained as consultants by DFCC Bank and NDB to advice the two banks on the proposed amalgamation process. In a filing to the Colombo Stock Exchange the two banks said no finality has been reached yet on the aspects of consolidation but assured shareholders, employees, regulatory authorities and investing public that they will be informed of the progress as and when necessary. DFCC and NDB in March announced that they were exploring the possibilities of amalgamation. This was in pursuance to the policies announced by the Government to encourage consolidation in the financial services industry. The two Boards realising the positives in this model entered into a Memorandum of Understanding. BCG is an international strategy and general management consulting firm. It has more than 80 offices around the world. BCG in India formally started operations in 1995, opening its offices after nearly a decade of work in India. Today, it has three offices in India covering Mumbai, Gurgaon and Chennai.

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