In a recent announcement by the US-based Global Finance magazine, the Commercial Bank of Ceylon has once again secured the title of ‘Best Bank in Sri Lanka’ for an impressive 22nd consecutive year. This recognition underscores the bank’s commitment to offering a wide range of services, long-term reliability, and innovative technological solutions.
Global Finance’s Best Bank Awards highlight financial institutions that excel in meeting customer needs, navigating challenging markets, and driving technological advancements. According to the magazine, this year’s winners demonstrated exceptional management of assets and liabilities amid dynamic interest rate scenarios.
The 2024 edition of Global Finance’s list of top banks in the Asia Pacific region features Commercial Bank alongside renowned institutions such as CBA (Australia), China Construction Bank (China), HSBC (Hong Kong), ANZ (New Zealand), UOB (Singapore), Hana Bank (South Korea), MUFG Bank (Japan), and State Bank of India (India), each recognized as the best in their respective countries.
Sanath Manatunge, Managing Director and Chief Executive Officer of Commercial Bank, expressed pride in the bank’s achievements over the past financial year. He highlighted the bank’s milestones in performance, sustainability efforts, digitization initiatives, and support for SMEs and women entrepreneurs.
As the largest private sector bank in Sri Lanka with significant assets, deposits, loan portfolios, and gross income, Commercial Bank has maintained its leadership position while contributing significantly to the country’s Small & Medium Enterprise (SME) sector.
Global Finance’s selection criteria for the World’s Best Banks in 2024 included quantitative factors such as asset growth, profitability, geographic reach, strategic partnerships, and innovation, along with qualitative inputs from industry experts and analysts.
Commercial Bank’s consistent excellence in these areas underscores its resilience, strategic vision, and commitment to delivering value to its customers and stakeholders.