Plans to introduce innovative investment products:

NDB Group launches operations in Bangladesh

NDB Capital Limited, NDB Bank’s Bangladesh joint venture investment bank was launched in Dhaka, Bangladesh. NDB Capital Limited hopes to contribute to the development of the capital markets in Bangladesh. NDB Capital Limited was formed by the NDB Group acquiring a controlling stake in Capital Market Services Limited, a licensed merchant bank in Bangladesh.

From left: Kusal Jayawardana, Managing Director, NDB Capital Limited, Al Maruf Khan, Director, NDB Capital Limited, P.M. Nagahawatte, Chairman, NDB Bank Limited, Nihal Welikala, Chairman, NDB Capital Limited, Vajira Kulatilake, Director, NDB Capital Limited and Ajith Wickremaratne, Director, NDB Capital Limited.

The investment gave NDB Bank a 77.8 percent equity stake in the merchant bank. NDB Capital Limited plans to introduce a range of innovative investment banking products in Bangladesh to fulfil the needs of the market.

The Company would customize globally available products to the Bangladeshi market conditions, practices and regulatory framework. A spokesman for NDB Group said that there would be opportunities for corporate advisory services such as feasibility studies leading to fund-raising, restructuring, diagnostic studies and mergers and acquisitions.

The major attraction of Bangladesh for investment banking related activities is the similarity of cultural and social aspects between the two countries.

NDB Capital Limited will leverage on the expertise within the NDB Group, especially NDB Investment Bank (NDBIB). NDBIB is the premier investment bank in Sri Lanka with market leadership in financial advisory services and debt and equity distribution.

NDBIB has developed in-depth expertise in the areas of securitisations and structured finance, project finance and loans syndications, initial public offerings, corporate valuations, balance sheet restructuring and financial advisory services.

NDB Bank’s Chairman P.M. Nagahawatte said, “NDB Capital provides the NDB Group’s investment banking business an opportunity to benefit from the larger Bangladeshi market, and also position NDB Group for future expansion in banking and financial services in a new market”.

The Chairman, NDB Capital Limited, Nihal Welikala said, “Like most emerging economies, Bangladesh is seeking to increase its capital investment to drive higher economic growth.