From left: Rob Hartley, Asia Editor of the Euromoney Magazine, Darshan Perera, CEO of NDBIB, Kaushini Laksumanage, COO of NDBIB, and Clive Horwood, Editor of the Euromoney Magazine
NDB Investment Bank was adjudged the ‘Best Investment Bank in Sri Lanka 2014’ once again by Euromoney Awards for Excellence, held at the Island Shangri-La in Hong Kong recently. NDBIB won the prestigious award for the third consecutive year in recognition of its leadership position in both debt and equity fund raising and corporate finance transactions in the country.
Darshan Perera, CEO of NDBIB, commenting on the award stated: “We are indeed honoured and privileged to be awarded by Euromoney and winning the Euromoneyaward for the Best Investment Bank in Sri Lanka for the third successive year substantiates our consistency in maintaining a high level of excellence in providing customised solutions as well as the benchmark we have set for our peers. This award signifies the dedication and commitment of the team at NDBIB in fulfilling the diverse needs of our valued clients.”
Last year NDBIB raised Rs. 42 billion of funds concluding its most successful year to date. The company has extended its leadership in the debt capital market space as the main debt house with over 40% share in listed corporate debentures both in terms of number of issues and total funds raised in a fragmented market of over 10 players.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.
Over the years, NDBIB pioneered the introduction of many innovative structures and instruments for the local capital markets. Last year, 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.
Commenting on the triumphal achievement, Kaushini Laksumanage, COO and Head of the Debt Division of NDBIB, “We are delighted to be recognised as the Best Investment Bank by Euromoney for the third consecutive year. Adding to the series of recent accolades, the Euromoney award confirms our dominance in the Sri Lankan capital market. We look forward to another great year as we continue our journey to be in par with international markets.”
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 advised Hemas Manufacturing (Pvt) Limited on the acquisition of a 72% stake in J L Morison Sons & Jones (Ceylon) PLC and managed the subsequent Mandatory Offer and the Voluntary Offer successfully. With the continuation of the low interest rates, improved investor sentiment towards Sri Lanka, and strong collaborations with the NDB Group network, NDBIB looks forward to a successful year ahead.
Euromoney’s Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world. Established in 1992, the Euromoney Awards for Excellence recognizes outstanding institutions in finance based on their exceptional performance, continuous innovation, and excellent financial performance year-on-year.