June 22, 2012 (LBO) – Sri Lanka’s banks have to be ready to finance infrastructure when the state is expected to woo private capital into toll roads and ports in the next few years, an investment banker said. Several foreign firms have made proposals.
The government is already tapping commercial banks for infrastructure finance through syndicated loans, backing them up with Treasury guarantees.
The NDB group, which offers long term development finance and commercial banking has consolidated its investment banking, fund management and stock brokering operations under a separate its 99 percent owned unit.
Earlier known as Capital Development and Investment Company, which had its origin as a state backed venture capital firm, it will has now been renamed NDB Capital Holdings.
It also owns a stake in the Sri Lanka unit of Aviva Insurance.
The group also has a presence in Bangladesh through an investment banking presence via NDB Capital Limited. Kulatilaka said the Bangladeshi unit will also support Sri Lankan businesses who want to enter that country.
NDB also has a tie up with Singapore’s DBS group. Kulatilaka said the new group is now poised to offer inve