Singapore's DBS, Sri Lanka's NDB to cooperate more in investment banking

A strategic alliance has been agreed that will see DBS and NDB collaborate in equity and fixed income issuances, syndications, project financing and mergers and acquisitions. An MoU has been signed by the two groups.

“With the expected high-growth scenario in Sri Lanka’s economy, the size of transactions will increase exponentially during the next few years. Irrespective of the form, the future fund-raising requirements may not be able to be handled within Sri Lanka, and our clients will have to resort to international markets, regional markets in particular, to fill the gaps. This MOU will enable us to tap the distribution capabilities of DBS while meeting the capital requirements of our clients,” said NDB Bank CEO Russell De Mel.

Said DBS head of capital markets Eric Ang, “Over the years, DBS has built up significant capital markets expertise and established a broad investor base in Singapore, and elsewhere in the region. With our impressive track record in Singapore and our growing Asian franchise, increasingly, DBS has been facilitating more cross-border deals in the equity, debt, M&A and syndications space. This collaboration with NDB will further create opportunities for DBS to offer seamless regional connectivity to customers, and to intermediate the increasing investment flows within Asia.”