Financial and Banking News
EBI Sells Colombo Branch
The Colombo branch of Emirates Bank International (EBI) has been sold to aprivately-owned Sri Lankan bank, Hatton National Bank. The date of thetakeover is set for October, but no details of the sale have been revealed byeither bank. The Dubai-based EBI, which until last year was known by its formername as Union Bank of the Middle East (UBME), has recovered from a series of baddebts in the local...