Acuity Partners Rebrands as HNB Investment Bank After Full Acquisition
Deal News | Feb 06, 2025 | EIN
Hatton National Bank PLC (HNB) has rebranded Acuity Partners (Pvt) Ltd as HNB Investment Bank (Pvt) Ltd following its full acquisition of the securities firm. This change was prompted by HNB's purchase of DFCC Bank's 50% stake in Acuity Partners for Rs. 6.5 billion. The newly rebranded entity will offer services spanning mergers and acquisitions, debt and equity capital markets, and advisory solutions to leverage HNB's financial strength and expertise. This acquisition allows HNB to align its investment banking operations with its growth strategy both locally and internationally. Previously, Acuity Partners worked in joint collaboration with DFCC Bank, and included other subsidiaries like Acuity Securities Ltd and Acuity Stockbrokers (Pvt) Ltd. HNB Investment Bank also plans to introduce new wealth management services by year-end and seeks to bolster its fintech collaboration efforts moving forward.
Sectors
- Finance
- Investment Banking
- Fintech
Geography
- Sri Lanka – The article revolves around Hatton National Bank's operations, acquisitions, and future plans primarily in Sri Lanka.
Industry
- Finance – The article involves financial services, specifically concerning banking, securities, mergers and acquisitions, and capital market services.
- Investment Banking – The rebranding to HNB Investment Bank and the expansion into services such as M&A, and wealth management emphasize the relevance of this industry.
- Fintech – With HNB's plans to invest and collaborate with fintech companies, this industry becomes pertinent to the future strategy outlined in the article.
Financials
- Rs. 6.5 billion – Amount paid by Hatton National Bank for the 50% stake in Acuity Partners owned by DFCC Bank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Hatton National Bank PLC | Bidding Company/Buyer | Company | A leading bank in Sri Lanka acquiring full control of Acuity Partners. |
| Acuity Partners (Pvt) Ltd | Target Company | Company | Former joint venture securities firm between HNB and DFCC, now fully acquired and rebranded by HNB. |
| DFCC Bank | Selling Company/Vendor | Company | Previously held a 50% stake in Acuity Partners which was sold to HNB. |
| HNB Investment Bank (Pvt) Ltd | Rebranded Company | Company | The rebranded entity offering a spectrum of financial services, following HNB's full acquisition. |
| Damith Pallewatte | HNB Managing Director and CEO | Person | Official spokesperson for HNB's strategic direction and rebranding efforts. |
| Ray Abeywardana | Company Representative | Person | Involved in the announcement of the rebranding effort. |