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Wednesday, 21 September 2011

DBS, NDB sign MOU

By TEO SI JIA


DBS Bank on Wednesday announced that it has signed a memorandum of understanding with Sri Lanka's NDB Group.

The partnership will see the two working together in the investment banking sector and collaborating in equity and fixed income issuances, syndications, project financing and mergers and acquisitions.

'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,' said CEO of NDB Bank, Russell De Mel.

'This MOU will enable us to tap the distribution capabilities of DBS while meeting the capital requirements of our clients.'

The head of capital markets at DBS, Eric Ang, also said that the partnership will help DBS to 'offer seamless regional connectivity to customers', and to 'intermediate the increasing investment flows within Asia'.

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