NDB Investment Bank wins Asiamoney Award for 7th time

Monday, 14 August 2023 01:48 - - {{hitsCtrl.values.hits}}

NDBIB team from left: Director and CEO Darshan Perera, Head of Corporate Advisory Saminda Weerasinghe and Chief Operating Officer Kaushini Laksumanage

NDB Investment Bank Limited (NDBIB) secured the accolade of ‘Best Investment Bank in Sri Lanka’ by the prestigious Asiamoney Magazine, for the seventh consecutive time.

Despite the unprecedented socio-economic events in 2022 and a gruelling macro-economic environment characterised by rampant inflation and contractionary monetary policy measures, NDBIB was able to deliver on its promise of successful execution of transactions, and was recognised as the best in the investment banking space, yet again, by Asiamoney Magazine. In its press release, Asiamoney Magazine refers to NDBIB as “an institution that keeps going, during tough times.”

NDBIB Chief Executive Officer Darshan Perera said: “We are honoured to receive this accolade for the 7th year in a row by the prestigious Asiamoney Magazine, with relation to one of the most challenging years for Sri Lanka. Securing this title continuously would not have been possible if not for the dedication and commitment of our dynamic team, and we would like to thank our esteemed stakeholders for placing their trust on us.”

NDBIB helped raise Rs. 30 billion in funds in 2022 for its clients. NDBIB managed the Rights Issues of Abans Finance PLC, Pegasus Hotels of Ceylon PLC and AgStar PLC (all these raisings were oversubscribed). In the M&A front, NDBIB acted as the Financial Advisors to the (1) Shareholders of Kings Hospitals Colombo Ltd. on the strategic investment by Ceylinco Life Insurance Ltd., (2) Shareholders of Browns Investments PLC and Faber Capital Group on the divestiture of Saga Solar Power to Aitken Spence PLC, and (3) Sri Lanka Telecom PLC on the divestiture of Sri Lanka Technological Campus Ltd. to a consortium of investors. NDBIB also managed the Debenture Issues for Brown & Company PLC and Resus Energy PLC during the first quarter of 2022.

The vibrant Sri Lankan capital markets of 2021, which saw many entities going public, deteriorated as a result of the economic and political crises in 2022.

stated NDBIB Chief Operating Officer Kaushini Laksumanage said: “We are optimistic about the next 12 months, now that the interest rates and market conditions are easing following the clarity on the Government’s Domestic Debt Optimisation programme. We have also taken tangible measures to expand our reach beyond Sri Lanka, by entering into collaborative arrangements with strategic stakeholders in the African and APAC markets.”

NDBIB Corporate Advisory Division Head Saminda Weerasinghe said: “The award from the Asiamoney Magazine is a further endorsement of NDBIB’s undisputed position as the leading investment bank in Sri Lanka and we intend to carry forward this unblemished achievement into the next year as well, through placing and executing some of the exciting deals in our strong pipeline.”