Commercial Bank of Ceylon Honoured as Best Bank for 14th Consecutive Year

Strategic Insights -

Commercial Bank of Ceylon has been recognised as the Best Bank among Sri Lanka's domestic banks for an impressive 14th year by FinanceAsia. The bank's Chief Financial Officer, Prasanna Indrajith, accepted the award on behalf of the bank at the FinanceAsia Country Awards celebration in Hong Kong. The bank's exceptional financial results in 2024 were a testament to its prudential approach to managing external challenges and operational resilience.

Key Takeaways:

  • Commercial Bank of Ceylon has been awarded the Best Bank title for the 14th consecutive year by FinanceAsia.
  • The bank's Chief Financial Officer, Prasanna Indrajith, accepted the award on behalf of the bank at the FinanceAsia Country Awards celebration in Hong Kong.
  • The bank's exceptional financial results in 2024 were driven by its prudential approach to managing external challenges and operational resilience.
  • Commercial Bank was ranked the biggest lender overall to the country's Small and Medium Enterprise (SME) sector for the fourth consecutive year in 2024.
  • The bank maintained the highest market shares among private sector banks in Sri Lanka in deposits, loans, total assets, market capitalisation, gross income, and total capital base.
  • FinanceAsia's awards process celebrates financial institutions that demonstrate determination to deliver desirable outcomes through commercial and technical acumen.
  • Other Country Award winners in the Best Domestic Bank category included City Bank (Bangladesh), Allied Bank (Pakistan), Bank of China (Hong Kong), PT Bank Mandiri (Indonesia), BDO Unibank (Philippines), Techcombank (Vietnam), and United Overseas Bank (Singapore).

Statistics:

  • Commercial Bank of Ceylon has a Group asset base of Rs. 2.876 trillion.
  • The bank has deposits of Rs. 2.31 trillion, a loan book of Rs. 1.53 trillion, and gross income of Rs. 274.976 billion as at 31st December 2024.
  • The bank has maintained the highest market shares among private sector banks in Sri Lanka in various financial indicators, including deposits, loans, total assets, market capitalisation, gross income, and total capital base.
  • FinanceAsia has been in publication since 1996, providing readers with the latest financial trends, interviews, features, and investigative reports.
  • The company is owned by Haymarket Media Limited, the largest privately-owned publishing group in the UK.

Sources:

  • FinanceAsia
  • Commercial Bank of Ceylon
  • Haymarket Media Limited
  • Publication date: 31st December 2024 (latest available information)