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The Sundaytimes Sri Lanka

IFC, DEG invest in Cargills Bank


Cargills Agriculture and Commercial Bank Ltd (Cargills Bank), which has received a provisional banking licence from the Central Bank of Sri Lanka, on Friday signed agreements with the International Finance Corporation (IFC)and DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbh. The two organisations are taking a 10 percent stake each in the new bank. Pic shows the agreements being handed over to Harris Premaratne- Managing Director, Cargills Agriculture and Commercial Bank by Ranjit Page, Deputy Chairman- Cargills flanked by Hubertus Pleister, Head of DEG’s Asia Department (left) and Adam Sack, IFC Country Manager - Sri Lanka and Maldives.

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