TKS Group completes merger
The TKS Group has completed the integration of two of its finance
sector holdings, TKS Finance Limited and Asian Finance Limited. The
merger was initiated with the approval of the Boards of Directors and
shareholders of both companies and the Central Bank (CB) in June this
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
Senior Director, TKS Finance Limited, Dr. S. H. A. M. Abeyratne said,
"Our core team has moved swiftly and wrapped up this exercise in record
time. With the data migration duly completed on August 1, all Asian
Finance Limited branches will operate as TKS Finance Limited."
With this move the Board of Directors of the company is implementing
a new business model to offer better financial services to customers
while delivering greater value to shareholders, he said.