Business
NDB Investment Bank wins Euromoney Award for the 13th consecutive year.
NDBIB Team from left to right: Darshan Perera – CEO |NDB Investment Bank, Kaushini Laksumanage – COO | NDB Investment Bank and Senaka Kakiriwaragodage – CEO | NDB Capital Holdings Ltd
NDB Investment Bank (NDBIB) has once again been recognized as the “Best Investment Bank in Sri Lanka” by Euromoney Magazine at the Euromoney Awards for Excellence 2024. This milestone marks the 13th consecutive year NDBIB has been honoured with this prestigious award, reaffirming the company’s sustained excellence and undisputed leadership in Sri Lanka’s investment banking landscape. NDBIB remains the only investment bank in Sri Lanka to have secured this award despite an increasingly competitive environment.
Expressing his views, NDBIB’s Chief Executive Officer, Darshan Perera stated, “Winning the Euromoney Award for the 13th consecutive time is a remarkable achievement that underscores the exceptional dedication and excellence of the NDBIB team. Throughout the years, our unwavering commitment to delivering the highest standards of service and innovation has set us apart as the leading investment bank in Sri Lanka. This award is a testament to the hard work, resilience and strategic acumen of our team, demonstrated even in the height of macroeconomic and political volatility.”
He further stated, “Our success is built on a foundation of trust and collaboration with our esteemed clients and stakeholders, who have supported us unwaveringly. We are deeply grateful for the confidence our clients have placed in us, and we are committed to leveraging these relationships to create even greater value in both local and global capital markets.”
NDBIB remains steadfast in its pursuit of excellence, ready to navigate the evolving investment banking landscape and seize new opportunities for growth and success, particularly as a facilitator at this pivotal point in time from a Sri Lanka perspective.
NDBIB is in the forefront of structuring, placing and executing equity and debt capital market transactions (i.e. Initial Public Offerings, Private Placements, Mergers and Acquisitions, Debentures and Other Debt and Equity Products) and facilitating other Corporate Advisory assignments.
The Chief Operating Officer of NDBIB, Kaushini Laksumanage commented, “Being recognized by Euromoney for the 13th consecutive year, reflects our enduring commitment to providing top-tier financial services. This recognition highlights our adeptness at navigating our key challenges through strategic foresight and innovation. As we continue to expand our cross-border collaborations and partnerships, we remain dedicated to enhancing our regional presence on top of our recent achievements.”
In 2023, NDBIB made its debut in the African region as the exclusive financial advisor to Hela Apparel Holdings PLC, successfully arranging a debt fundraising of USD 14 Mn via Norfund (Norwegian Investment Fund for Developing Countries), for the Group’s East African operations.
Furthermore, NDBIB was also able to successfully structure and raise two out of three equity Initial Public Offerings (IPOs) that took place in the local market in 2023. The IPO of UB Finance PLC, was the first company to successfully launch an IPO following Sri Lanka’s economic crisis. Furthermore, NDBIB acted as the joint financial advisor and manager to the IPO of Cargills Bank that led to its listing in January 2024. NDBIB also successfully completed three Rights Issues and four de-listings in 2023.
The Chief Executive Officer of NDB Capital Holdings, Senaka Kakiriwaragodage stated, “NDBIB performed a stellar role, acting as the exclusive sell side advisors to Emerald Sri Lanka Fund 1 Limited, a fund managed by the sister company of the Group, in the divestiture of the fund’s stake in Consolidated Business Systems (Private) Limited (a leading coconut-based product exporter). NDBIB has been instrumental in facilitating each of the Fund’s exits to date via both the IPO and M&A routes. Over the years, NDBIB has been a vibrant and an integral member of the wider NDB Group, having provided numerous opportunities to other Group entities whilst executing transactions in complex settings.”
NDBIB was also in the forefront of product innovation in 2023, being an active stakeholder in the structuring of market pioneering Shariah-compliant capital market instruments in the CSE which NDBIB hopes to bring to the market in the near future.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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