MBSL celebrates 29th year Strong asset base, sustainable growth

Merchant Bank of Sri Lanka PLC (MBSL) commemorated 29 years in the banking industry on March 4. It is a milestone in the success story of the Bank. During the past decade the bank has faced the challenging needs of the market and its customers a media release from the Bank said. The balance sheet strength of total assets has grown from Rs. 7.2 billion to Rs. 2.3 billion.

Nurtured by accredited professionals with long standing industry experience, MBSL has established itself as a frontier in the flourishing banking industry in Sri Lanka with an unmatched intellectual capital of dynamic and dedicated staff of approximately 160 employees, specialising in the areas of Leasing, Corporate Advisory and Capital Markets, and Trade and Project Finance.

The main asset is the committed staff base with expertise in any region that is anticipated from a bank as MBSL. Creativity and productivity has been increasing within MBSL with greater focus on staff motivation.

Embraced by the parental strength of the Bank of Ceylon, MBSL as an incumbent player has projected immense comfort cum stability to its clientele, while blending with better industry practices with its international rapport through the strategic alliance with SBI Capital Markets Limited which is recognised to be the largest investment bank in India. Our branch network has grown from three in 2000 to 11 strategically located branches islandwide delivering capital to entrepreneurs.

The Board of MBSL has provided support, which is a definite advantage for the future.

2009 marked an end to terrorism and it entered a new era of peace with economic and social prosperity.

MBSL will ensure that every business opportunity will be tapped at the right time with the right style.

In 2009 MBSL took over two financial institutions which were in distress and since then commenced the turnaround process which has begun to reap benefits for MBSL.

"We understand these companies are at breakeven levels but with great focus on the core business of those financial institutions, returns are expected to improve dramatically, the release said.

MBSL said that the downturn is an opportunity to introduce efficiencies across all business lines which in turn will cherish towards a good platform for growth.

This would strengthen structures and outlook for the future and help to be more proactive in business dealings. Forward thinking and building towards the future will be the key aspects that the Bank will look forward, with focus on a sustainable brand management strategy.