Business News from Sri Lanka: The Commercial Bank of Ceylon has been declared the ‘Best Commercial Bank Sri Lanka 2019’ by the International Banker Magazine, a prestigious UK publication that prides itself on authoritative analysis of international banking operations. The magazine’s awards program is designed to recognize top-ranking individuals and organizations setting new benchmarks for performance and pushing the boundaries within the financial industry around the world.
This is the fifth award presented by International Banker to Commercial Bank since 2015. In the preceding four years, the publication adjudged Commercial Bank Sri Lanka’s Commercial Bank of the Year twice, Private Bank of the Year once, and presented the Bank with the award for ‘Best Innovation in Retail Banking.’
According to International Banker, the 2019 awards recognize award winners for offering what top-of-the-line banks provide: much-needed capital for economic growth, cutting-edge innovation to improve security and efficiency, intelligent investing to maximize profits and shareholder value.
The magazine said the winners are banks that are not just doing their jobs well but exceptionally well, that are in effect operating on the cutting edge of the industry and setting new levels of performance to which others in the field will aspire.
The awards were open to all banking institutions regardless of size, market capitalization or a number of employees. The sole concern of the awards is to highlight the best banks globally.
Finance Publishing Limited, the parent company of the International Banker, International Director and Forex Focus is a leading global source of authoritative analysis and opinion on banking, finance and world affairs.
The only Sri Lankan Bank to be ranked among the world’s top 1000 banks for nine years consecutively, Commercial Bank operates a network of 266 branches and 846 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and over 40 international and local awards in 2018.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay PyiTaw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake