BoC debenture issue

The CSE has approved an application for listing of debentures of the Bank for a Main Board Listing.

Debentures to be offered is up to 50,000,000 Unsecured Subordinated Redeemable Debentures. The Manager, sponsors and registrars to the issue are Merchant Bank of Sri Lanka PLC. The date of opening of the subscription list is October 23. The prospectus and debenture application forms will be issued by the Bank on October 15.

Ambedkar oration

The Sri Lanka Convention Bureau invites scholars, academicians and students of comparative religions to the inaugural Dr. B.R. Ambedkar Oration on Tuesday October 14 at 6 p.m. at the Hotel Management and Training School Auditorium, Colombo 3. Chairman, University Grants Commission of India, Prof. S. Thorat will deliver the oration on the theme the 'Role and relevance of Dr Ambedkar in today's world'.

Standard Chartered acquires Union Bank

Standard Chartered Bank will acquire the banking business carried on in Sri Lanka by Standard Chartered Bank Pakistan Limited (formerly known as Union Bank) through Standard Chartered Bank Sri Lanka.

The operations of the two banks will align in terms of overall integration over the course of the next six to nine months.

This acquisition promises to enhance the truly world class capability of Standard Chartered Bank in the country and is a testament to the Bank's commitment to Sri Lanka. It is also a reaffirmation of the Bank's confidence in the positive opportunities that exist in the current environment today and the belief that the future holds exciting opportunities for building strong partnerships. Standard Chartered is one of the oldest Bank's in Sri Lanka having commenced business in the country as an agent office in 1858 and as a full branch in 1892.

The Bank is now the second largest foreign bank in the country. Operations in Sri Lanka include Wholesale banking (which covers Global markets, Institutional Banking, Custodian services) and Consumer banking.