NDB launches operations in Bangladesh
NDB Capital Limited, NDB Bank’s Bangladesh joint venture investment
bank, was formally launched on the 1st of July in Dhaka, Bangladesh. NDB
Capital Limited hopes to contribute to the development of the capital
markets in Bangladesh. NDB Capital Limited was formed by the NDB Group
acquiring a controlling stake in Capital Market Services Limited, a
licensed merchant bank in Bangladesh. The investment gave NDB Bank a
77.8% equity stake in the merchant bank.
NDB Capital Limited plans to introduce a range of innovative
investment banking products in Bangladesh to fulfil the needs of the
market. The Company would customize globally available products to the
Bangladeshi market conditions, practices and regulatory framework. NDB
Group is of the view that there would be opportunities for corporate
advisory services such as feasibility studies leading to fund raising,
restructuring, diagnostic studies and mergers and acquisitions. The
major attraction of Bangladesh for investment banking related activities
is the similarity of cultural and social aspects between the two
countries.
NDB Capital Limited will leverage on the expertise within the NDB
Group, especially NDB Investment Bank (NDBIB). NDBIB is the premier
investment bank in Sri Lanka with market leadership in both financial
advisory services and debt and equity distribution. NDBIB has developed
in-depth expertise in the areas of securitisations and structured
finance, project finance and loans syndications, initial public
offerings, corporate valuations, balance sheet restructuring and
financial advisory services. NDB Bank’s Chairman P.M. Nagahawatte said,
“NDB Capital provides the NDB Group’s investment banking business an
opportunity to benefit from the larger Bangladeshi market, and also
position NDB Group for future expansion in banking and financial
services in a new market”. Speaking on the occasion, Nihal Welikala,
Chairman, NDB Capital Limited, stated, “Like most emerging economies,
Bangladesh is seeking to increase its capital investment in order to
drive higher economic growth.
|