Business Times

NDB strikes partnership deals with DBS Singapore, plans others

By Duruthu Edirimuni Chandrasekera

On the back of inking a memorandum of understanding with Singapore’s DBS Bank for a strategic alliance, both the NDB Investment Bank and NDB Bank Group are scouting other such partnerships with similar giants in different regions, officials said.

“We are bullish on similar partnerships in other regions," Vajira Kulatilaka, CEO NDB Investment Banking Cluster told the Business Times on the sidelines of this week’s launch.
The main objective of launching the NDB-DBS alliance now, according to him, is to capitalise on the significant increase in capital requirements that the country will need in the immediate future. “Sri Lanka having weathered a three decades-long war is now poised to reap the peace dividend and has already experienced the dawn of an era of rapid economic development. This new era of economic rejuvenation would naturally lead to a significant increase in capital requirements, in both debt and equity," he explained.

He added that while, in a slow growth scenario in the country, entities were able to fund the capital requirements through retained earnings and bank borrowings, such strategic alliances will help fuel the development phase providing access to a large network of investors and funds. "They are able to draw from the vast regional network and expertise of entities such as DBS bank.”

He said the ongoing development initiatives specially infrastructure development projects and setting up of large scale projects will need capital and this partnership will help NDB to tap the distribution capabilities of DBS bank while meeting the capital requirement of its customers.

Amongst other benefits, he said that exposure to the best technology and training in the banking sector stands prominent. He also added that NDB will also be able to benchmark against a global player and learn implement industry best practices in order to provide the best service and products to our clients. “In short, this strategic alliance will help NDB Group enter a new phase in its growth and this alliance is indeed preparing for the future. NDB has recognised that there will be a need for global funds to propel the growth in the country and DBS foresees this need too," he explained, adding that with the backing from DBS, NDB is ready for more growth prospects.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
SriLankan Airlines back to the WTC
Sri Lanka Telecom streamlines tender procedures
Defence Ministry directs Urban Development Authority to probe ‘Chalmers Granary' issue
Softlogic to divest more than 30% in Asian Alliance
IPO issues this year fall by half from original targets
Eyeing Budget 2012
COMMENT - Juggling attendance at AGMs
Consultants are siphoning your money
What the next Mayor of Colombo should know about the travails of travel
New fund manager to invest in firms with a future
Logiwiz commended by Chevron President for logistics support
Emirates offers special Economy, Business Class fares from Colombo
Smart Media win 19 Golds at ARC awards
i-Sri Lanka project in Jaffna revolutionises lifestyles of the people
Small businesses flourish in Jaffna
DHL Express Sri Lanka grooms internal talent
CMA felicitates CPA Australia on 125th anniversary
Commercial Credit launches strategic growth plan
“Money flows into the Jaffna peninsula …”
Renuka Holdings bullish on Agri, Automotive and FMCG
Banks should increase focus on loans to the rural communities
Frauds' survey to help combat swindlers and con artists
Colombo South Container Terminal $500 mln deal finally through
Applications close for CCC Best Corporate Citizen Award 2011
Palmyra goods by Jaffna, Mannar weavers
Top Panasonic official visiting Sri Lanka for company event
Central Bank appoints new deputy governors
Cabinet sub-committee appointed to bring tourism stakeholders together
Sri Lanka to play host to ‘Ceylon Experience 2011’ Rally
Year-old Island Leisure aims to be top 10 SL inbound tour operator by 2017
Tourism industry builds on its manpower
Winter arrivals seen rising by 10% this year
SriLankan Airlines launches flights to Moscow
NDB strikes partnership deals with DBS Singapore, plans others
Hilton likely to manage some Confifi hotels
Frayed tempers, accusations after CSE system crashes
Flow of AGMs at the same time


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution