Friday Nov 15, 2024
Friday Nov 15, 2024
Wednesday, 25 April 2012 00:02 - - {{hitsCtrl.values.hits}}
In order to mark its 30th milestone in the annals of trade banking services in Sri Lanka, Merchant Bank of Sri Lanka PLC (MBSL) hosted its business partners and trade associates to a function held recently at the GOH on 11 April.
In line with the ongoing strategy to enhance and strengthen its trade finance, Capital Market and Corporate Advisory services, MBSL undertook the record breaking commissioning of its 16 new branches and service centres in just one day.
MBSL is in the forefront in investment banking and business advisory services. With its combined trade finance experience of 30 years in different aspects of the business environment including sourcing of clients, setting up different trade finance credit facilities and their execution, and relationship management, each team member has its own individual strengths and product/market expertise, which are complimentary.
Through the expansion of its services, the bank is now diversifying its geographical reach to encourage new emerging markets by offering trade financing in the areas of; generators and tool equipment textile and garments, dairy products, pharmaceuticals, steel and cement and fixed income securities (debentures and others). Concentrating on the SME sector and micro-financing, MBSL is moving parallel with the Government’s policy of developing the rural sector, thus encouraging and increasing exports by enlisting the active participation of the rural industries.
In line with this, micro financing is introduced to the rural sector, which has been a tremendous success with 100 % recovery with abase of above 5000. The resultant increase in the national GDP is the vision shared and actively pursued by MBSL.
“MBSL confirms its vision and commitment to the nation. It is our firm conviction that our Bank will play an important role in supporting entrepreneurship, combining the quality of services of any professional bank to enhance revenue generation, client and product diversification, and associated processes and controls,” endorsed MBSL Chairman M.R. Shah. The Bank’s largest shareholder is the Bank of Ceylon which holds a strategic stake of 72% and in 2005 entered into a strategic alliance with SBI Capital Markets Limited, which is the largest investment Bank in India.
Its subsidiary companies Merchant Credit of Sri Lanka Ltd. which has 13 branches island-wide including Jaffna and MBSL Insurance with 50 branches add strength and stability to its trade portfolio. In addition, MBSL holds a 29% share of Lanka Securities Pvt. Ltd.
