Sri Lanka’s Commercial Bank of Ceylon PLC has officially completed the liquidation of its subsidiary, Commex Sri Lanka S.R.L., located in Rome, Italy. The bank first announced the voluntary liquidation of the wholly-owned subsidiary in August 2022.
The final procedures have now been concluded, and Commex Sri Lanka S.R.L. has been deregistered from the Chamber of Commerce, Craft, Industry, and Agriculture of Rome, which functions as the Italian Registrar of Companies. Antonio Caporale, the appointed liquidator, confirmed that all liquidation formalities have been finalized.
Commex Sri Lanka, established in 2016, began operations after securing a Money Transfer Licence from the Bank of Italy. It enabled many Sri Lankan expatriates in Italy to use the bank’s e-Exchange remittance service, providing a formal and secure channel for money transfers to Sri Lanka. Italy remains one of the largest markets for Sri Lankan migrant workers, with substantial remittance flows to the country.