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| Sunday, 5 January 2003 |
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Newsmakers of the Week The tussle between Hatton National Bank (HNB) and Sampath Bank, which has been dragging for more than three years, was settled early last week with Sampath Bank paying Rs 680 million (Rs 80 per share) to purchase 18 per cent of the shares held by HNB while a further 10 per cent will be purchased in the near future. ################## Anil Amarasuriya, Sampath Bank Managing Director
"We are very pleased that it was sorted out in a manner acceptable to all parties. The growth of the bank was impeded due to this issue. "The bank is initiating a fresh start to move forward with the settlement being agreeable to all parties. It is a good sign for the banking industry as well." Rienzie Wijetilleke, HNB Managing Director "It is a very good nett gain, is very advantageous and can be called a blessing in disguise because we were blocking the money which could have been put to good use. "The bank did very well last year and we are hopeful that it will be more interesting this year with the dividend of peace and the enhanced activities of the economy." |
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