From left: Asia Euromoney Editor Clive Horwood, NDBIB VP Debt and Equity Distribution Avanthi Dissanayaka, NDBIB CEO Darshan Perera, NDBIB COO Kaushini Laksumanage and Asia Euromoney Asia Editor Chris Wright
NDB Investment Bank (NDBIB), which completed a record-breaking year in 2015 raising a mammoth Rs.60 billion, was awarded ‘Sri Lanka’s Best Investment Bank 2016’ by the prestigious Euromoney magazine.
This marks the fifth consecutive year NDBIB has been bestowed with this highly acclaimed award. The award was presented at a gala event held at Island Shangri-La Hotel in Hong Kong attended by regional and global heavyweights in the banking industry.
NDBIB has won global acclaim for uplifting standards and setting the benchmark for investment banking in Sri Lanka and is the first and only investment bank in the country to have been recognized by the prestigious Euromoney magazine.
NDBIB CEO Darshan Perera stated, “Being awarded as the best for five times in a row tells that we have been doing something more than being market leaders for equity, debt and M&A transactions. I believe it proves that we have built a culture of excellence and ingrained it in the DNA of our team. Recruiting the best people, training, retaining and providing continuous challenges to them create a virtuous cycle which automatically brings client satisfaction, successful execution and innovation.”
NDBIB achieved an unassailable 55 percent share of the debenture market in 2015 and co-managed the largest IPO to take place during the year. The latter raised Rs.750 million closing on the first day itself with healthy participation from institutional investors whilst achieving an oversubscription of 6.9 times, showcasing NDBIB’s placement capabilities amidst the rising interest rate environment. NDBIB also experienced a healthy year in terms of M&A activity having advised on two transactions valued at approximately US $ 33 million.
The highlight amongst M&A transactions was the joining of forces between two fast-growing apparel companies, Hela Clothing and Foundation Garments, where NDBIB was involved right from originating the idea and creating a merger opportunity up to closure of the transaction. The idea was originated after having closely studied both parties’ complementary strengths in terms of clientele, markets and product portfolio and common growth aspirations.
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 fifth 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 two national elections.
During 2015, NDBIB also acted as financial advisor and arranger to a syndicated loan facility to finance a luxury resort project in the Maldives among its other debt raising initiatives. A consortium of local banks was assembled together with an overseas bank for this purpose. Furthermore, NDBIB’s advisory expertise was sought by Resus Energy who undertook an exercise to restructure its balance sheet in order to unlock shareholder value via a leveraging and share repurchase exercise.
The corporate culture at NDBIB is driven by the highest ethical standards with honesty and integrity as its hallmarks. NDBIB adheres to strict compliance and ethical guidelines, including CFA Code of Conduct, an internal policy framework for compliance and industry best practices.
Euromoney’s Awards for Excellence recognise institutions that demonstrate leadership, innovation and momentum in global financial markets. The accolades cover more than 20 global product categories and include best-in-class awards in all regions and recognitions for the best banks in close to 100 countries.
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 stockbroking.