NDBIB struck a partnership with DBS Bank Singapore last year.
Vajira Kulatilaka, head of NDB group's investment banking said the award recognized the pioneering efforts made by the firm to develop capital markets in Sri Lanka.
"With this achievement, NDBIB has been able to take the local investment banking industry to global standards," he said.
NDBIB said it is the first time an investment bank in Sri Lanka has been recognized by Euromoney or similar awards.
During 2011, NDBIB had raised over 38 billion rupees in debt and equity for its clients, including two record breaking initial public offers.
"[W]e look forward to continuing our quest for innovation, as we have done in the past through pioneering products such as structured debt and book building, in order to provide unique tailor made solutions to our valued clients," chief executive Darshan Perera said.