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Nations Trust Bank signed an agreement last week with American Express Bank, for the take over of their Sri Lanka Branch operations. The actual transaction will be effected on the approval of the Central Bank.

Moksevi Prelis, CEO/Director of Nations Trust Bank said: "We are pleased to be associated with such a prestigious name in the Global Financial Services Industry and gratified that they have identified Nations as a partner that they want to work with.

"I am sure that this partnership will prove mutually fruitful and will grow from strength to strength."

The CEO said that this acquisition was in line with their expansion strategy focusing on retail and that it positions the Bank for significant growth in the next few years.

It is envisaged that the current branch of Amex at Dharmapala Mawatha, will continue as a full service Branch of Nations Trust.

The Foreign Exchange Centres at Dharmapala Mawatha and the four Travel Agencies (Gabo Travels, Cey Can, Hemtours and Jetwing) will also continue to provide the same products and services such as Travellers Cheques, Foreign Currency and Credit Cards services.

Nations Trust acquired the businesses of Waldock Mackenzie and the Kandy branch business of the Standard Chartered Grindlays Bank last month.

Their application for the purchase of the Personal Banking portfolio of the Deutsche Bank, Colombo is awaiting approval by the regulatory authorities.

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