Cargills gets CB approval to set up new bank

Sri Lanka: Colombo picture 40
Cargill's had started as Milne, Cargill, and Company, but
Milne soon retired to Glasgow, while Cargill had other
interests, including Burmah Oil.  Long registered in
Glasgow.Cargills ws sold to Sri Lankans in 1946,
but they chose to keep the Cargill's name. 
The Central Bank has issued a provisional letter of approval to Cargills Ceylon PLC to establish a new commercial bank in Sri Lanka, a stock exchange filing said.


It said the application for a banking license had been made jointly by Cargills and its parent C T Holdings, who are the joint promoters of the new bank ‘Cargills Agriculture and Commercial Bank(CACB).

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