The Global Banking and Finance Review Awards 2014 adjudged NDB Investment Bank as the ‘Best Investment Bank Sri Lanka’ and ‘Most Innovative Investment Bank Sri Lanka’, while recognising the company for the ‘Best Asset-Backed Securitisation Sri Lanka’. NDBIB received these three awards for the second consecutive year, signifying its continued leadership and dominance in the Sri Lankan capital market. Additionally, NDBIB was awarded the ‘Best Investment Banking Services Sri Lanka 2014’ for its range of debt and equity products and corporate advisory services that is unmatched within the country.
Commenting on the distinguished accomplishment NDBIB CEO Darshan Perera said: “We are extremely honoured to receive four prestigious awards from the Global Banking and Finance Review. These accolades validate our position as the leader in investment banking with a business portfolio consisting of debt and equity products and corporate advisory services. While 2013 was an excellent year for NDBIB, we will continue to strive to achieve greater excellence and innovation in driving the capital markets to be in par with international markets.”
NDBIB raised Rs. 42 billion in funds in 2013 concluding its most successful year to date. NDBIB established a stronghold in listed corporate debentures in the past year as the market leader with over 40% share both in terms of number of issues and total funds raised in a fragmented market of over 10 players.
Market leader in non-banking/financial sector fund raising
NDBIB remained the market leader in the non-banking and financial sector fund raisings, maintaining an 80% market share. The largest ever-corporate debenture in Sri Lanka was structured by NDBIB for the ultimate parent National Development Bank PLC, recording the highest funds raised in a listed corporate debenture issue in Sri Lanka.
In continuing its quest for innovation, NDBIB introduced multiple green-shoe options in the event of an oversubscription for debentures and structured the first ever securitisation of future receivables of broker advances. NDBIB together with its sister company in Bangladesh, NDB Capital Ltd., arranged a syndicated loan facility comprising financial institutions both in Sri Lanka and Bangladesh for Lakdhanavi Ltd., the premier power and energy company in Sri Lanka to set up a heavy fuel thermal power plant in Rajshahi, Bangladesh.
NDBIB COO and Head of the Debt Division Kaushini Laksumanage, commenting on the string of awards said: “It is indeed a delightful moment for us at NDBIB to be recognised by Global Banking and Finance Review as the Best Investment Bank in the country for the second consecutive year. NDBIB has been duly recognised for our innovation representing the range of financial products and services that we have offered to the Sri Lankan capital markets.”
Actively in equity markets
NDBIB was actively engaged in the equity market via private placements and extended advisory services despite the moderation in activity on the CSE in the year 2013.
Adding to its list of achievements, NDBIB acted as the Financial Advisor to the largest share repurchase in Sri Lanka on behalf of its parent, NDB Capital Holdings PLC. NDBIB also was the Financial Advisor to Hemas Manufacturing Ltd.’s acquisition of a 72% stake in J.L. Morison Sons & Jones (Ceylon) PLC where NDBIB advised and acted as the Manager to the Mandatory Offer and the Voluntary Offer arising from the acquisition.
NDBIB is the flagship company within NDB Capital Holdings PLC, the only full service investment bank listed on the CSE, offering a range of services in the areas of stock broking, wealth management, private equity and investment banking both in Sri Lanka as well as Bangladesh.
Global Banking and Finance Review is a leading online magazine providing informative and independent news within the global financial community. The Global Banking and Finance Review Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community.