Alpen Capital of Dubai publishes report outlining opportunities in Sri Lanka
Alpen Capital (ME) Ltd., which is a Dubai-headquartered investment banking advisory firm, has reportedly announced the publication of its latest report titled ‘Sri Lankan Banking and NBFI Sector.’
According to reports, this report provides a comprehensive overview of the Sri Lankan Banking and Non-Banking Financial Institutions (NBFI) sectors, highlighting the strengths, opportunities and challenges for a diverse group of investors (investment funds, corporate institutions, etc.) looking for investment opportunities in Sri Lanka.
The report has also profiled some of the key firms within these sectors.
“Alpen Capital forayed into Sri Lanka in 2015 and since then witnessed remarkable success, in both of its equity and debt advisory services, arranging more than $ 500 million of bilateral loans, club loans and syndications for banks and finance companies as well as advising clients on regional cross border mergers and acquisitions. We continue to believe in the tremendous growth potential of the country and anticipate immense opportunities for investors,” Alpen Capital Executive Chairman Rohit Walia has been quoted as saying.
“The Central Bank of Sri Lanka is closely monitoring the Banking and NBFI sector by adopting international regulatory standards, which has increased investors’ confidence in these sectors. Highly professional individuals who manage the banks and top-tier NBFIs have ably led the sector through challenging times and successfully fulfilled the expectations of investors. We expect the outlook of these sectors to improve and through this report intend to showcase them,” Alpen Capital Senior Director Dilip Samanthilaka has reportedly said.
Sri Lanka’s economic growth which has seen a slowdown in recent years due to external factors is expected to improve as a result of easing of monetary policy by the Central Bank as well as fiscal expansion and the International Monetary Fund (IMF) has projected real GDP growth to strengthen to 3.5% in 2020, the report has stated.
The report has further stated that despite the downgrade in sovereign ratings, Sri Lanka has retained the ability to raise sovereign bonds and raised them twice in 2019, with both bond issuances being healthily oversubscribed. Sri Lanka has managed to maintain inflows of around US$ 1-2 billion over the last few years.
Sri Lanka has reportedly retained stable fundamentals despite economic challenges in the recent past. Growth was driven by an increasingly important services sector, and achieved relatively high-levels of GDP per capita.
The publication of opportunities in Sri Lanka by the Dubai based financial company could be used by foreign businesses/investors looking at opportunities in the Indian Ocean island. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region.
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