The Commercial Bank of Ceylon has once again been crowned the ‘Best Bank in Sri Lanka,’ as well as the ‘Best Sustainable Bank in Sri Lanka’ in 2022 at FinanceAsia’s flagship Country Awards which recognise institutions that have demonstrated resilience in their commitment to supporting their clients and government schemes.
This is the 11th year that Commercial Bank has been named the Best Bank in Sri Lanka by this publication that is credited with honestly and objectively commenting on Asia’s financial and capital markets for the past 25 years.
Ranked alongside Commercial Bank this year are banks of the calibre ofAllied Bank (Pakistan), HSBC (Hong Kong), Khan Bank (Mongolia), and E.SUN Bank (Taiwan).
Commenting on the Bank’s triumph at the FinanceAsia Country Awards, Commercial Bank Managing Director/CEO Mr Sanath Manatunge said: “Together, these awards representrecognition of the Bank’s prowess via an excellent combination of performance indicators, going beyond bottom line alone. While banks tend most often to be assessed on financial figures, there are many other measurements, including sustainability, which are as important to create ultimate shareholder value.”
Commercial Bank was adjudged the Best Bank for its performance in 2021 including being the private bank with the highest total operating income, highest market share of deposits, highest total asset base, highest advances base, highest profit before and after-tax and highest net interest income.Commercial Bank is also the largest lender to the SME sector in Sri Lanka.
The Bank launched a series of products and services in 2021 that contributed towards winning this title. These include introducingViber and WhatsApp banking, becoming the first Sri Lankan bank to issue a unified QR code under LANKAQR specifications, launching the first-ever Aggregator App in the local banking space, redesigning the ‘Anagi Women’s Banking’ portfolio, introducing the utility bill payment feature across the Bank’s Cash Recycler Machine (CRM) network, automating monthly utility bill settlements via the ComBank website, launching the e-slips app to facilitate paperless deposits of cash and cheques, and linking its ‘Flash’app with the global climate impact calculation leader – Doconomy,among others.
Additionally, Commercial Bank became the first bank in the country to accept digital signatures in 2021, relaunched its corporate website in all three languages, introduced prepaid as well as credit cards for corporate fuel purchases, and added features such as payments to government institutions on ComBank Digital.