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