DFCC Bank PLC has successfully completed the acquisition of Standard Chartered Bank Sri Lanka’s wealth and retail banking business, marking one of the most significant developments in the country’s banking sector. The transaction strengthens DFCC’s position in retail banking while expanding its footprint in wealth management and small and medium enterprise banking.

The acquisition brings approximately 50,000 customers into the DFCC network together with employees supporting the acquired operations. It includes Priority Banking, retail lending, deposits, credit cards, wealth management services and SME banking portfolios, reinforcing DFCC’s long term strategy to broaden its customer base and enhance customer experience across Sri Lanka.

DFCC Bank Chief Executive Officer Thimal Perera described the completion of the acquisition as a carefully managed transition focused on ensuring continuity for customers. He noted that extensive planning, technology integration and close collaboration between the two banks enabled customers to continue using their existing Standard Chartered account numbers alongside newly issued DFCC account numbers, while retaining their existing credit and debit cards, PINs, standing instructions and recurring payment arrangements.

Customers will also benefit from access to DFCC’s comprehensive portfolio of personal banking, wealth management and SME products, together with a nationwide network of more than 130 branches and over 5,000 LankaPay connected ATMs. Eligible customers will also gain access to DFCC Pinnacle, the bank’s premium banking proposition.

Expressing appreciation to the teams involved, Perera acknowledged the contributions of colleagues from both DFCC and Standard Chartered, the Central Bank of Sri Lanka and technology partners in delivering a seamless migration. The successful completion of the acquisition marks a milestone in DFCC’s growth strategy and further strengthens its competitive position in Sri Lanka’s evolving financial services sector.