IDLC Investments Limited has won a Euromoney Award for Excellence, in the category of Best Investment Bank in Bangladesh, for a third year in a row.
It received the same award in 2017 and 2018.
Until the beginning of the last decade, the merchant bank had been operating as the investment banking division of IDLC Finance Ltd, the country's top non-banking financial institution.
IDLC Investments became a subsidiary of the NFBI in January 2011 following a regulatory instruction.
"IDLC Investments has been awarded by Euromoney for its: ability to adapt and tailor its offerings in adverse conditions, superior financial performance compared to its peers, unique deals, plus legacy of delivering tailored and innovative solutions to local and international clients across a range of products and services," read a press release by the country's leading investment bank.
Applauding this achievement, Arif Khan, managing director of IDLC Finance, said, "IDLC's strength lies in its adaptability to change and also its commitment to creating a lasting impact on the society through various business efforts."
"Winning this award for a third time in a row reiterates our merchant bank's continued leadership in the investment banking landscape of the country," added Khan, who had previously served the country's securities regulator as a commissioner with his background as a market professional.
Established in 1992, Euromoney's Awards for Excellence are the first of their kind in the global banking industry.
Md Moniruzzaman, managing director of IDLC Investments, told The Business Standard that the firm has excelled during both the market's good and bad times.
"Our risk management culture, customer focus and determination to adopt global best practices have allowed us to stay ahead of the curve," he added.
Historically, they tried to bring good-governed initial public offerings to the market. The firm also did some merger and acquisition deals.
"This recognition will inspire us to do the right things and serve our customers better," said Moniruzzaman, also a vice-president of the Bangladesh Merchant Bankers Association.