More brokers going rural

Monday, 13 February 2012 00:00 - - {{hitsCtrl.values.hits}}

Despite bearish market conditions, more stock brokers are expanding their reach to tap prospective investors in rural areas with a strong belief in the longer term.

New entrant DNH Financial Ltd., has opened a service centre in Jaffna whilst NDB Stockbrokers has set up a promotional desk in NDB Bank Plc’s Jaffna Branch.

The entry by the duo expands the broking community presence in North to eight. Others already present are Bartleet Religare, Asha Phillip, Lanka Securities, Capital Trust, SMB Securities and SKM Lanka. Another new entrant New World Securities has opened a branch in Anuradhapura whilst Capital Alliance Securities set up shop in Kandy. Bartleet Religare opened in Polonnauwa.

Asha Phillip Securities opened its 19th branch last week in Wattala hot on the heels of setting up operations in Ambalanthota. Among other openings were Calridge Stockbrokers in Negombo, Nation Lanka Equities in Matara, SC Securities in Welawatte and Capital Trust Securities opening its eighth branch at Rawathawatta, Moratuwa.

CSE has branches in Jaffna, Matara, Kurunegala, Kandy and Negombo.