The Commercial Bank of Ceylon has been ranked the Most Respected Bank in Sri Lanka and the fourth Most Respected corporate entity in the country overall in the 2023 ‘Most Respected Entities in Sri Lanka’ rankings published by the LMD magazine.
The largest private sector bank in the country, Commercial Bank was also ranked second overall across all sectors of business for Financial Performance and Honesty, and was ranked among the top five Sri Lankan corporates for Vision, Management Profile, National Perspective and Corporate Culture.
This is the 19th consecutive year that Commercial Bank was ranked the Most Respected Bank inSri Lanka. The Bank has also been among the top five most respected entities in the country in every one of the annual surveys conducted byLMDsince the launch of the ranking in 2005, earningCommercial Bank the 4th place in the magazine’s2023 Hall of Fame of the country’s most respected entities.
Commenting on this latesttribute to the Bank,Commercial Bank’s Managing Director and Chief Executive Officer Mr Sanath Manatunge said:“Respect is central to corporatesuccess. In financial services, a reputation for honesty and solid financial performance are indispensable elements. To achieve top rankings in these areas on the basis of votes cast by the general public and to be ranked as the “Most Respected Bank” for 19 consecutive years is a truly remarkable achievement.”
LMD uses a weighted ranking system based on the opinions of surveyed respondents. The ranking system operates by weighting three nominations for each company by assigning a weight of five points for the first mention, a weight of three for the second, and one for the third mention. The final rankings are based on the total sum value of the weighted scores for each company.