NDBIB awarded Best Investment Bank in SL

NDB Investment Bank Limited (NDBIB) has been adjudged as ‘Best Investment Bank in Sri Lanka 2013’ by Global Banking and Finance Review, a leading online magazine providing informative and independent news within the global financial community. In addition to this feat, NDBIB has received two more coveted accolades, namely, ‘Most Innovative Investment Bank in Sri Lanka 2013’ and ‘Most Innovative Asset Backed Securitisation in Sri Lanka 2013’, bearing ample testimony for its continuous quest for excellence and innovation within the investment banking sphere in the country.

The string of awards follows NDBIB’s momentous achievement in 2012 when it became the first investment bank in the history of Sri Lanka to have received an international accolade for excellence by being adjudged as ‘Best Investment Bank in Sri Lanka’ at the Awards for Excellence 2012 by Euromoney, the world’s premier financial markets magazine.

Commenting on the unique feat, Vajira Kulatilaka, CEO of NDB Capital Holdings PLC, the parent company of NDBIB, said “We are extremely proud to have been selected for three prestigious awards by Global Banking and Finance Review. We are steadfastly committed to strive for excellence and innovation thereby adding value to our clients and propelling the country’s capital markets to the international pedestal. The economic growth and prospects of the country will naturally call for best-in-class knowledge and practices in our capital markets to cater to the growing needs.”

Darshan Perera, CEO of NDBIB said, “It is indeed a delightful moment for us at NDBIB to be recognised as the best investment bank in the country and particularly with regard to the recognition of many innovative financial products and services that we have offered to the capital markets.

Innovation is a critical success factor in the dynamic financial services spectrum and hence these awards provide ample evidence of the success achieved by NDBIB in its quest for continuous innovation. I am confident that these accolades by Global Banking and Finance Review would motivate the NDBIB team by recognizing exceptional performance and inspire us to achieve greater heights.”

NDBIB’s track record of providing innovative financial products and services to its valued clients was amply demonstrated during 2012 with the successful execution of numerous transactions. A case in point was the secularization of future credit and debit card receivables carried out for a leading FMCG client of NDBIB.

Kaushini Laksumanage, Chief Operating Officer of NDBIB, said “NDBIB has been a pioneer in carrying out asset back secularization in the Sri Lankan capital markets, particularly for leasing and hire purchase receivables and future tea receivables.

We are delighted to have been recognised for our innovation in executing the third and the largest ever secularization of future credit and debit card receivables in the country having pioneered this product in the capital markets with two such transactions taking place in 2011.”

NDBIB demonstrated its dominance in the local investment banking sphere by managing two of the three IPOs to be opened during 2012, advising on three large M&A transactions and involving in numerous valuation, restructuring and other advisory transactions. NDBIB acted as the financial advisor to NDB Capital Holdings PLC during the divestiture of its shareholding in the insurance business to AIA Group Limited in Hong Kong, whilst Morgan Stanley advised Aviva PLC in what was a landmark M&A transaction to take place in Sri Lanka in 2012.