Sampath Bank takeover: A golden opportunity missed due to communal mindsets | Daily FT

Many people involved in the negotiations seemed to consider HNB as a ‘Tamil bank’. Thus any potential take-over of Sampath was suddenly viewed through the lens of communal division. The idea of creating a regional powerhouse was now framed as a hostile acquisition of a ‘Sinhala’ bank by a ‘Tamil’ bank. The well had been poisoned By Rienzie Wijetilleke and Kusum Wijetilleke There was a period in the late ’80s and early ’90s when Sri Lanka’s banking sector was beginning to expand its correspondent relationships around the world and strengthening these relationships through carefully-structured f…

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HEDGE accordingly