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Overview

China Development Bank provides $49 million loan in 2013 to Hatton National Bank for on-lending activities (Linked to Record ID#33397)

Commitments (Constant USD, 2023)$50,664,593
Commitment Year•2013Country of Activity•Sri LankaDirect Recipient Country of Incorporation•Sri LankaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2013
Last repayment
May 31, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • Hatton National Bank PLC (HNB)

Loan desecription

China Development Bank provides $49 million loan in 2013 to Hatton National Bank for on-lending activities

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On March 28, 2012, China Development Bank issued a $50 million loan to Hatton National Bank for trade-related, long-term project financing activities (via on-lending). The agreement was signed by Chairperson Dr. Ranee Jayamaha and Managing Director/CEO Rajendra Theagarajah on behalf of Hatton National Bank PLC and Deputy General Manager Guangxi Branch Wei Peng on behalf of China Development Bank Corporation. The maturity length of the loan was 5 years. The other borrowing terms of the loan are unknown. Then, in June 2013, China Development Bank issued a $49 million loan to Hatton National Bank for trade-related, long-term project financing activities (via on-lending). The agreement was signed by Dr. Ranee Jayamaha, Chairperson of Hatton National Bank PLC and Mr. Bai Yingfu, general manager of CDB’s Guangxi branch. The maturity length of the loan was 5 years. The other borrowing terms of the loan are unknown. The 2012 CDB loan is captured via Record ID#33397. The 2013 CDB loan is captured via Record ID#33414.

Staff comments

1. Hatton National Bank PLC is a private bank in Sri Lanka with 251 branches and 563 ATMs. It is the fifth largest company by market capitalization (FY2014: 11th ranked) on the Colombo Stock Exchange (SLRs116.5 billion). It is considered a systemically important bank in Sri Lanka.