HSBC increases capital base by further Rs. 3b

HSBC has increased capital in its Colombo office by a further Rs. 3 billion, becoming the largest foreign bank as well as the third-largest private bank in Sri Lanka.

This increase in capital is being brought into fund dynamic growth in business and new strategies to support its customer base.

"We have invested and expanded our operations in Sri Lanka over the past few years and are pleased with the trust and confidence that the local community has placed in us. The latest investment of Rs. 3 billion is a further reflection of our confidence and commitment to Sri Lanka's economic development and potential for growth.

As the world's local bank, HSBC looks forward to even stronger bonds and relationships with Sri Lanka and aim to take banking to a higher level.

While delivering excellent levels of service in banking, we also aim to invest and transfer best practices, skills and knowledge in the country", CEO, HSBC Sri Lanka, David J H Griffiths said.

The Rs. 3 billion increase in capital underlines HSBC's determination to extend its global network in Sri Lanka. With ten branches and a staff of over 1,000, the bank is undoubtedly an impressive presence in the local banking community.