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ComBank liquidates money transfer subsidiary in Italy – Business News & More Breaking News

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Commercial Bank Ceylon PLC yesterday announced the voluntary liquidation of Commex Sri Lanka S.R.L, a wholly owned subsidiary of the bank located in Italy.

A disclosure by the bank said the decision was taken considering the economic impact following Covid-19.
Commex Sri Lanka S.R.L. launched  its money transfer operation in Italy in 2016, following the grant of a Money Transfer Licence from the Bank of Italy.

Commercial Bank is the first Sri Lankan bank to open a firm in Italy for money transfer operations.

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