NDBIB crowned Sri Lanka’s best investment bank by Euromoney

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Jul 24, 2019 (LBO) – NDB Investment Bank (NDBIB) once again secured the prestigious “Best Investment Bank in Sri Lanka” award by Euromoney for the year 2019.

This marks the 8th consecutive win for NDBIB, one of the longest winning streaks for any investment bank, and coincides with the 50th year anniversary of the Euromoney Magazine.

The award is a testament to the diversity of transactions executed by NDBIB, its market leadership in debt and equity raising and mergers and acquisitions, and its passion for innovation.

The Asia Awards Ceremony was held on July 16, 2019 at the JW Marriot Hotel in Hong Kong.

The market leadership position enjoyed by NDBIB in Sri Lanka has been leveraged over the last few years to position NDBIB as a leading player in the South Asian region, particularly in Bangladesh and the Maldives.

This strategy resulted in robust performance across all business verticals despite significant capital market volatility in Sri Lanka. The wide array of transactions executed by NDBIB included approximately 50.0 billion rupees in debt raisings, 7.0 billion rupees in equity and hybrid products, and over 2.5 billion rupees in Mergers and Acquisitions, totaling to an impressive 60.0 billion rupees in capital raisings and value of transactions advised during the year 2018.

Commenting on this momentous achievement, Darshan Perera, CEO of NDBIB, stated “We believe in being consistent in what we do, especially when it comes to our passion for innovation and service delivery. The recognition we have received for eight consecutive years from Euromoney validates this consistency”.

NDBIB continued its quest for innovation by introducing several new capital market structures and products in 2018.

A case in point is the structuring of the first ever Non-Convertible Perpetual Debenture qualified as Additional Tier 1 (AT1) capital under the BASEL III regime to meet the regulatory capital requirements of a licensed specialized bank. AT1 instruments are used extensively in developed markets to enhance the efficiency of capital utilisation and was a novel addition to the Sri Lankan capital market.

NDBIB also executed its first fully offshore dollar term loan facility as a joint arranger raising US 100.0 million dollars for National Savings Bank.