HSBC to open branch in Jaffna

Banking giant HSBC will open a branch in Sri Lanka's former war zone, the first foreign bank to do so since the end of the country's long ethnic conflict, the Central Bank Governor said.

HSBC will open for business in Jaffna, the heartland of the island's Tamil minority, next week. "The North has been an untapped market for years due to the war and we are seeing a lot of interest from financial companies to expand into that area," Cabraal said.

Since the bloody conflict between government troops and Tigers ended last May, the Central Bank has allowed 73 national banks to open branches in the North.

AFP