National Development Bank PLC (COSE:NDB-N-0000) and DFCC Bank (COSE:DFCC-N-0000) would be merged. Central Bank of Sri Lanka's (CBSL) roadmap for 2014 confirmed the merger plans. CBSL's Governor Cabraal said: "Consolidation in the banking sector will have to proceed at an organic pace; therefore it is difficult to specify a definite time-period.

There are many issues that will have to be looked at and dealt with before such consolidation can take place." Banks would be expected to submit "broad plans" on potential merger and consolidation options by June 30, 2014.