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NDBIB recognised Best Investment Bank in Sri Lanka 2013

Comments / 1351 Views / Thursday, 21 March 2013 00:00

NDB Investment Bank Limited (NDBIB) has been adjudged as ‘Best Investment Bank in Sri Lanka 2013’ by the Global Banking and Finance Review, a leading online magazine providing informative and independent news within the global financial community.

In addition to this feat, NDBIB received two more coveted accolades, ‘Most Innovative Investment Bank in Sri Lanka 2013’ and ‘Most Innovative Asset Backed Securitisation in Sri Lanka 2013’, bearing ample testimony for its continuous quest for excellence and innovation within the investment banking sphere in the country.

The string of awards follows NDBIB’s momentous achievement in 2012 when it became the first investment bank in the history of Sri Lanka to have received an international accolade for excellence by being adjudged as ‘Best Investment Bank in Sri Lanka’ at the Awards for Excellence 2012 by Euromoney, the world’s premier financial markets magazine.

Commenting on the unique feat, NDB Capital Holdings CEO Vajira Kulatilaka, the parent company of NDBIB, stated: “We are proud to have been selected for three prestigious awards by Global Banking and Finance Review. We are steadfastly committed to strive for excellence and innovation, thereby adding value to our clients and propelling the country’s capital markets to the international pedestal.

“The economic growth and prospects of the country will naturally call for the best-in-class knowledge and practices in our capital markets in order to cater to the growing needs.”

NDBIB CEO Darshan Perera mentioned: “It is a delightful moment for us at NDBIB to be recognised as the best investment bank in the country and particularly with regard to the recognition of many innovative financial products and services that we have offered to the capital markets.

“Innovation is a critical success factor in the dynamic financial services spectrum and hence these awards provide ample evidence of the success achieved by NDBIB in its quest for continuous innovation. I am confident that these accolades by Global Banking and Finance Review would motivate the NDBIB team by recognising exceptional performance and inspire us to achieve greater heights.”

NDBIB’s track record of providing innovative financial products and services to its valued clients was amply demonstrated during 2012, with the successful execution of numerous transactions. A case in point was the securitisation of future credit and debit card receivables carried out for a leading FMCG client of NDBIB.

NDBIB Chief Operating Officer Kaushini Laksumanage commenting on the achievement saying: “NDBIB has been a pioneer in carrying out asset back securitisations in the Sri Lankan capital markets, particularly for leasing and hire purchase receivables and future tea receivables.

“We are delighted to have been recognised for our innovation in executing the third and the largest ever securitisation of future credit and debit card receivables in the country having pioneered this product in the capital markets with two such transactions taking place in 2011.”

NDBIB demonstrated its dominance in the local investment banking sphere by managing two of the three IPOs to be opened during 2012, advising on three large M&A transactions and involving in numerous valuation, restructuring and other advisory transactions.

NDBIB acted as the financial advisor to NDB Capital Holdings during the divestiture of its shareholding in the insurance business to AIA Group Limited in Hong Kong, whilst Morgan Stanley advised Aviva PLC in what was a landmark M&A transaction to take place in Sri Lanka in 2012.

The company also cemented its leadership as a debt house by raising approximately Rs. 14 billion in debt instruments notwithstanding the high interest rate regime and credit ceilings that prevailed in the country.

The launch of Sri Lanka’s only family fixed income indices for Government securities, co-branded with CRISIL of India, fulfilled a long-felt need for performance measurement in our debt capital markets and demonstrated the company’s foresight and commitment to capital market development.

Subsequent to the restructuring exercise carried out within the NDB group during 2012, NDBIB is now positioned as the local investment banking arm of NDB Capital Holdings (formerly known as Capital Development and Investment Company), the leader in providing a wide gamut of capital market solutions, covering stock brokering, wealth management, and investment banking in both Sri Lanka and Bangladesh.

NDBIB is well positioned to continue its dominance during the current year with a strong pipeline of deals and the expected improvement in the capital markets.

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