NDBIB awarded ‘Sri Lanka’s Best Investment Bank’ by Euromoney for 10th consecutive year

Director/CEO Darshan Perera

Chief Operating Officer Kaushini Laksumanage

Chief Corporate Advisory Officer Nilendra Weerasinghe

NDB Investment Bank’s (NDBIB) dominance as the market leader for investment banking in the country was affirmed by the highly acclaimed Euromoney magazine in its recently announced Country and Regional Awards for Excellence 2021. This marks the 10th consecutive year that NDBIB has secured the award for ‘Sri Lanka’s Best Investment Bank’ and is one of the longest winning streaks in addition to being the first and only investment bank in the country to be recognised by the Euromoney Magazine.

Expressing his views, NDBIB Chief Executive Officer Darshan Perera stated, “Being crowned as the best for 10 consecutive years has been one of the proudest moments for everyone at NDBIB. We have been steadfast in our quest for innovation and it is great to witness this being recognised repeatedly by Euromoney. We would like to extend our heartfelt gratitude to our esteemed clientele who have placed their trust in us and been with us through this journey.”

NDBIB recorded a laudable performance in the year 2020, advising on a mammoth Rs. 37.4 billion worth capital raising transactions via equity, debt and hybrid instruments while executing numerous strategic M&A transactions despite a global pandemic and multiple lockdowns in Sri Lanka. NDBIB also remained active across all business verticals maintaining its stature as the market leader and preferred investment bank for capital raising and M&A advisory.

NDBIB also experienced heightened activity on the M&A front having advised on four M&A transactions in food and beverage, travel and leisure sectors including the divestiture of Daintee Ltd., the market leading confectionery company, to Sunshine Holdings PLC where NDBIB was the exclusive financial advisor to the divesting shareholders. This was the also the first transaction to be executed in the immediate aftermath of the first country-wide lockdown due to COVID-19.

NDBIB COO Kaushini Laksumanage commented, “This award speaks volumes for the great lengths we go to ensure the highest quality of standards and service that we maintain in all our transactions. We take great pride in being recognised by Euromoney for the tenth consecutive year, mainly due to our deep and diverse expertise and quest for continuous innovation.” She also reiterated the significance of the achievement amidst volatile market conditions, particularly during a year with multiple disruptions to business continuity due to lockdowns in the country.

Furthermore, NDBIB’s advisory expertise was sought by SDB Bank to raise Rs. 1.5 billion which was executed as the first stage of a three-year capital augmentation plan. The transaction was launched and concluded solely via an online platform at the height of the pandemic, the first ever fully digitalised fund raising on the Colombo Stock Exchange. 

Head of Corporate Advisory Nilendra Weerasinghe stated, “The most significant aspect of winning a prestigious award for a decade is the underlying consistency. It is such consistency that enables success even in the midst of a globally challenging year. We also look at advanced regional markets and their market participants to improve our processes and ensure we continue to add value to our clients.”

NDBIB was responsible for securing a $ 15 million commitment from Norfund to invest in NDB Bank’s capital raise and a $ 35 million foreign fund raising for a state-owned bank, a record volume of equity and debt transactions which resulted in dollar flows into Sri Lanka at this pivotal phase of the country’s economy. 

In addition to NDBIB being named ‘Sri Lanka’s Best Investment Bank’ for the 10th consecutive year by Euromoney, it has also been able to secure the ‘Best Corporate and Investment Bank’ award by Asiamoney Awards for five consecutive years. 

NDBIB is the investment banking subsidiary of NDB Capital Holdings, the largest full-service investment banking group in the country holding a complementary business portfolio consisting of fee based and fund-based investment banking, wealth management, managing private equity and stock broking.