NDB Investment Bank Limited (NDBIB) reaffirmed its supremacy in the capital market by successfully raising a total of Rs.31.5 billion through listed debentures during 2016 as the sole manager to the issue and jointly. From this amount, Rs.19.0 billion was raised for commercial banks, Rs.10.5 billion for finance companies and Rs.2.0 billion for corporates.
As in 2015, NDBIB once again posted an unmatched market share of approximately 38 percent in listed debenture issues during the year 2016, maintaining its market leadership position. NDBIB has the largest cumulative market share (38 percent) of all the listed debenture issues to date since the introduction of tax incentives in 2013 by the government to develop the capital markets.
Furthermore, for its superior execution of transactions in the debt, equity and corporate advisory space, NDBIB was crowned as ‘Sri Lanka’s Best Investment Bank 2016’ for the fifth consecutive year by Euromoney, the world’s premier financial markets magazine, bearing ample testimony to NDBIB’s continuous quest for excellence and innovation within the investment banking sphere in the country. NDBIB is honoured to be the only investment bank in Sri Lanka to have achieved this feat.
Commenting on the market leadership of NDBIB, NDBIB CEO Darshan Perera stated, “We are extremely proud to have continued our leadership position in managing listed debenture issues from 2015 to 2016. We are steadfastly committed to strive for excellence and innovation thereby adding value to our clients and propelling the country’s capital markets to the international pedestal. The economic growth and prospects of the country will naturally call for best-in-class knowledge and practices in our capital markets in order to cater to the growing needs.”
He also added, “In the investment banking sphere, all the players thrive to win a coveted award from a prestigious institution and NDBIB has reached this pinnacle five times consecutively.” NDBIB Chief Operating Officer Kaushini Laksumanage mentioned, “It is indeed a proud achievement for us at NDBIB to be the number one investment bank in the country in managing listed debenture issues during 2016, particularly when considering the volatility that prevailed in the capital markets during this period.
Adaptability and innovation are critical success factors in the dynamic financial services spectrum and hence these achievements provide ample evidence of the success achieved by NDBIB in its quest for continuous improvement. I am confident that these achievements would motivate the NDBIB team and inspire us to achieve greater heights.”
It is expected that there will be a decline in the issuance of listed debt securities going forward due to the removal of tax incentives previously offered to these products, through the budget 2017. However, NDBIB views this as an opportunity to introduce innovative new products that can fulfil the unique requirements of both investors and borrowers by giving them best possible opportunities under the prevailing market conditions. NDBIB is well positioned to continue its dominance during the current year with a strong pipeline of deals with the expected improvement in the capital markets.