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Lecture Retail and merchant banking – Lecture 29

Merchant Banking provides specialist services including portfolio management, project financing and counselling, issue management and underwriting, mergers, acquisitions, venture capital financing, leasing and so on. Merchant banking, although a non-banking financial activity, resembles banking function. | Revise Lecture 29 1 1 Merchant Banking 2 Merchant Banking – An Overview The financial services sector is an important constituent of the financial system and plays a significant role in the realm of economic development of a country. Merchant Banking is a prominent component of the financial sector of our country. 3 Merchant Banking – An Overview Merchant Banking provides specialist services including portfolio management, project financing and counselling, issue management and underwriting, mergers, acquisitions, venture capital financing, leasing and so on. 4 Merchant Banking – An Overview Merchant banking, although a non-banking financial activity, resembles banking function. The function of merchant banking which originated, and grew in Europe, was enriched by American patronage, and these services are now being provided throughout the world by both banking and non-banking institutions. 5 Merchant Banking – An Overview The word ‘Merchant Banking’ originated among the Dutch and the | Revise Lecture 29 1 1 Merchant Banking 2 Merchant Banking – An Overview The financial services sector is an important constituent of the financial system and plays a significant role in the realm of economic development of a country. Merchant Banking is a prominent component of the financial sector of our country. 3 Merchant Banking – An Overview Merchant Banking provides specialist services including portfolio management, project financing and counselling, issue management and underwriting, mergers, acquisitions, venture capital financing, leasing and so on. 4 Merchant Banking – An Overview Merchant banking, although a non-banking financial activity, resembles banking function. The function of merchant banking which originated, and grew in Europe, was enriched by American patronage, and these services are now being provided throughout the world by both banking and non-banking institutions. 5 Merchant Banking – An Overview The word ‘Merchant Banking’ originated among the Dutch and the Scottish traders, and was later on developed and professionalized in Britain. 6 Merchant Banking – An Overview A set of financial institutions that are engaged in providing specialist services, which generally include the issue and underwriting, project financing, mergers, acquisitions, venture capital financing, acceptance of bills of exchange and other banking services, are known as ‘merchant bankers’. A merchant banker may specialize in one activity and take up other activities, which may be complementary or supportive to the specialized activity. 7 Merchant Banking – An Overview In the U.S., investment bankers cater to the needs of business enterprises carrying out merchant banking functions. The main functions of merchant banking are the following; Corporate counselling Project counselling Pre-investment studies 8 Merchant Banking – An Overview 4. Capital restructuring 5. Credit syndication and project finance 6. Issue management and underwriting 7. Portfolio management 8. .