MBSL marks 31 years of business excellence in Sri Lanka

The pioneer among Sri Lanka’s investment and merchant banking, Merchant Bank of Sri Lanka PLC (MBSL), has made arrangements to celebrate its 31st anniversary in a grand manner this month and has activated several corporate social responsibility (CSR) programs for the Sinhalese, Tamil and Muslim communities centring on their branches island-wide.

Merchant Bank of Sri Lanka, launched in 1982, became a public company listed on the Colombo Stock Exchange in 1991. At present, MBSL, as the most successful pioneer in the investment and merchant banking industry of Sri Lanka, offers its clients a plethora of financial service such as leasing, hire purchase facilities, microfinance facilities for small and medium scale industries, credit facilities for business ventures, corporate advisory services, corporate secretarial services and capital market activities.

Merchant Bank of Sri Lanka has established 30 customer touch points covering 30 principal cities in Sri Lanka to date including Colombo, Panadura, Ambalangoda, Deniyaya, Hingurakgoda, Kekirawa, Kandana, Embilipitiys, Bandarawela, Moneragala, Nittambuwa, Puttalam, Avissawella, Mathugama, Mahaiyawa, Ampara, Ratnapura, Kandy, Kurunegala, Galle, Maharagama, Anuradhapura, Negombo, Trincomalee, Ambalantota, Vavuniya, Batticaloa, Chilaw and Hatton.

In 2012, on its 30th anniversary, MBSL opened 16 new branches and customer service locations island-wide, establishing a record in the financial history of the country. MBSL’s largest shareholder is the Bank of Ceylon. Its strategic stake in MBSL is 72%. In 2005, MBSL entered a strategic alliance with the largest bank in India, SBI Capital Markets Limited.

RAM Ratings Lanka, an organisation that rates banks and financial institutions according to financial stability, awarded MBSL the long term institutional rating of AA- and the short term rating of P1 in 2008. MBSL has also been awarded the ISO 9001:2000 international standard certification.

The board of directors of the Merchant Bank of Sri Lanka comprises reputed business leaders and industrialists representing the State and the private sectors. MBSL has a staff with long term experience in the merchant banking and finance sphere, capable of offering friendly and efficient service to their customers.

Speaking at the 31st anniversary of the Merchant Bank of Sri Lanka, its Chairman M.R. Shah said: “We at MBSL strongly believe that the financial services of a merchant bank are of great assistance to the modernisation and high growth rate of companies.  Furthermore, as strategic partners fulfilling the financial requirements of persons and organisations, we always endeavour to increase their capital and fulfil their financial aspirations to the optimum.”

“Employing our mature knowledge, long term experience, specialisation and financial adroitness to the maximum, we have the opportunity to advice on capital dealings of businesses and industries through the submitting of excellent loan schemes with the highest security,” Shah further said.

The acting Chief Executive Officer of Merchant Bank of Sri Lanka, Lakshman Kaluarachchi stated: “As investment bankers, investors of quality and business managers, our collective professionalism are integrating with merchant banking.  We understand what the investors’ requirements are and work very closely with our employer organisations to build correct investment plans to suit the requirements of all our stakeholders.”

Merchant Credit of Sri Lanka with 13 branches island-wide, including a branch in Jaffna, strong and stable MBSL Insurance with 55 branches, and MBSL Savings Bank are the other affiliated institutions of MBSL. Furthermore, 29% shares of Lanka Securities Private Limited belong to Merchant Bank of Sri Lanka.