Lanka HSBC to settle stock payments

Sri Lanka HSBC to settle stock payments Jan 13, 2010 (LBO) - Sri Lanka's HSBC bank said it has been appointed as a settlement bank by the Colombo Stock Exchange's central depository system, and has started settling deals from January 12.

HSBC said it is the only foreign bank in Colombo that has been appointed settlement bank as part of the multiple bank system of the bourse.
The deal was signed by CSE chairman Nihal Fonseka and HSBC's head of corporation banking Chamira Wijetilleke.