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Trade Finance and Investments PLC (TFI), a financial service providerhas 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 amalgamation was driven by the
financial sector consolidation plan initiated by the Central Bank of Sri Lanka
in 2014, where CCF acquired majority control of TFI. Further to the request
made by the CBSL, the Boards of Directors of both companies resolved to the