TKS Group completes merger exercise
View(s):The TKS Group recently announced that it had completed the integration of two of its finance sector holdings, TKS Finance Ltd and Asian Finance Ltd.
In a media statement, the organisation said that the merger was initiated with the approval of the Boards of Directors and shareholders of both companies and the Central Bank of Sri Lanka (CB) in June this year. “This is one of the first mergers to have been completed under the CB’s ongoing push for consolidation to reinforce the country’s financial sector,” it said.
Rasika Kaluarachchi will be heading the operations of the merged entity, TKS Finance Ltd as its CEO. With its head office at 245, Dharmapala Mawatha, Colombo 07 and a wide network of 11 branches spanning Colombo, Ratnapura, Matara, Negombo, Nugegoda, Kandy, Kiribathgoda, Kurunegala, Galle, Ambalangoda, and Trincomalee; TKS Finance Ltd is geared to extend greater levels of service to its customers around the island, the company said.