The Hindu Business Line : Investment banking venture

Hatton National Bank, the largest private sector bank in Sri Lanka and the Development Finance Corporation of Ceylon (DFCC), have promoted a joint venture - `Acuity Partners' - to offer a gamut of investment banking services in Sri Lanka, South India and Bangladesh. The entity will have a capital of 500 million Srilankan rupees (Rs 200 million). The joint venture is being started to release regulatory capital as well as enable savings in costs, a senior official of the bank said. HNB is shortly expected to start a joint venture in investment banking in India with the Kumbakonambased City Union Bank. - Our Bureau

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