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
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
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.