Trade Finance and Investments PLC amalgamates into Commercial Credit and Finance PLC
View(s):Trade Finance and Investments PLC (TFI), in existence for over 35 years, has been amalgamated into one of Sri Lanka’s pioneering finance companies, Commercial Credit and Finance PLC (CCF).
The amalgamation, which came into effect from 31st December 2020 was subject to the shareholders of both companies approving the said amalgamation at Extraordinary General Meetings held on 09 November 2020, the company said in a media release.
The amalgamation was driven by the financial sector consolidation plan initiated by the Central Bank in 2014, where CCF acquired majority control of TFI. Further to the request made by the CB, the Boards of Directors of both companies resolved to the amalgamation in line with the consolidation plan.