MBSL takes significant steps to improve business environment

Friday, 18 January 2013 00:38 - - {{hitsCtrl.values.hits}}

In MBSL’s recent past, significant steps have been taken towards the implementation and contribution towards the development of the financial sector. It is however clear that the growth initiatives that are being implemented run parallel to the maintaining of customer confidence through an accelerated and focused effort in improved and prompt customer service.

MBSL is thus following the only path which is a prerequisite providing the business and Small and Medium Enterprise sectors with liquidity. MBSL will continue to support its Customers responsibly and protect shareholders’ interests, thereby reinforcing confidence as it has done since the day it was founded.

The bank’s product portfolio includes leasing, micro finance, trade finance, corporate advisory and capital market, corporate secretarial services, restructuring of companies, loan syndication, IPO management, debenture and debt market tool management. Leasing products include one-day three wheeler lease, hire purchase and vehicle loans, lease schemes for professionals and lease facilities for software requirement.

The bank intends giving its customers more choices – from designing tailor-made solutions which allows its customers to create the type of banking experience that fits their own unique financial requirements.

Chairman of MBSL M.R. Shah stated: “The year ahead will prove to be a challenge which we hope to overcome through various schemes to help initiate small businesses in our communities and help them grow, thus creating new jobs and opportunities for advancement of hopeful entrepreneurs.”

Merchant Bank of Sri Lanka PLC., incorporated in March 1982, is the pioneer investment/merchant bank in Sri Lanka and was quoted on the Colombo Stock Exchange in 1991. 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 55 branches add strength and stability to its trade portfolio. In addition, MBSL holds a 29% share of Lanka Securities Ltd.