NDB Group creates history in investment banking in region
For the first time in investment banking history, NDB Group has been named the ‘Best Investment Bank’ by the esteemed Euromoney Magazine both in Sri Lanka and in Bangladesh. NDB Group creates history as the only local investment-banking group in Asia to be named as the Best Investment Bank simultaneously in two countries, namely Sri Lanka and Bangladesh. Euromoney recognised NDB Investment Bank as the “Best Investment Bank in Sri Lanka” for the third successive year and NDB Capital Limited Bangladesh as the “Best Investment Bank in Bangladesh” for the very first time at the 2014 Euromoney Awards for Excellence ceremony held recently in Hong Kong.
Commenting on this exceptional achievement, NDB Group Investment Banking cluster CEO Vajira Kulatilaka stated, “We are honoured to have been recognised by Euromoney regionally and the two awards demonstrate that we are a force to be reckoned with in the investment banking sphere in Asia, validating the strength of our global presence among other investment banking giants. This recognition is a testament of the powerful combination of local expertise and the strength of our regional platform, which has enabled us to emerge as the only Asian investment bank to have won the Euromoney Award for the Best Investment Bank in two countries in Asia. I would like to sincerely thank the teams and all our valued clientele both in Sri Lanka and Bangladesh for their support towards making NDB investment banking cluster truly regional.”
NDB Investment Bank
NDB Investment Bank (NDBIB) received the prestigious award for the third consecutive year, a tribute to its constant performance in debt and equity markets in Sri Lanka. In 2012, NDBIB became the first investment bank in Sri Lanka to receive an international accolade affirming NDBIB’s undisputed dominance in the Sri Lankan investment banking sphere. Over the years, it has led many of the largest and most innovative transactions in the local capital market.
Last year NDBIB successfully managed to highlight its credentials in debt and capital market despite the moderate market sentiment in Sri Lanka raising LKR 42 billion (USD 322 million) of funds in 2013.
NDBIB led the fragmented market in listed debentures with over 40% share both in terms of number of issues and total funds raised. It remained the market leader in the Non-Banking and Financial sector fund raisings, maintaining an 80% market share. The largest ever corporate debenture in Sri Lanka was structured by NDBIB for the ultimate parent National Development Bank PLC, recording the highest funds raised in a listed corporate debenture issue in Sri Lanka amongst other corporate advisory assignments.
NDB Capital Limited, Bangladesh
NDB Capital Limited (NDB Capital) was adjudged the ‘Best Investment Bank in Bangladesh’ for the very first time at the 2014 Euromoney Awards for Excellence. This is a historical accomplishment for NDB Capital Limited as well as Bangladesh since it is the first time Euromoney has recognised and accredited an investment bank in Bangladesh. NDB Capital has been successful in establishing a unique brand identity by executing a number of landmark investment banking transactions in the nascent capital market of Bangladesh that had thus far only offered plain vanilla products.
Last year NDB Capital raised approximately BDT 10,000 million (USD 130 million) from the Bangladeshi capital market through a wide variety of products including convertible bonds, preference shares, USD offshore syndications, convertible preference shares and private equity. Adding to its list of landmark achievements, NDB Capital structured and executed the first convertible preference share issue and the first convertible bond with a put option in Bangladesh.
NDB ventured into the virgin Bangladesh market in 2009 via NDB Capital Limited, a joint venture investment bank. NDB Capital is a fully-fledged merchant bank licensed by the Bangladesh Securities and Exchange Commission. It has an experienced team, which offers a unique combination of local and foreign expertise.
Euromoney’s Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world. Established in 1992, the Euromoney Awards for Excellence recognises outstanding institutions in finance based on their exceptional performance, continuous innovation, and excellent financial performance year on year.