The ComBank Top 40 ranking for 2024–25 highlights the bank’s consistent performance and long-term stability in a recovering economic environment. The recognition reflects a steady year marked by strategic decisions and measurable progress.
ComBank Top 40 ranking reflects steady growth and financial strength
Commercial Bank of Ceylon has secured the No. 1 position in the Business Today Top 40 for 2024–25, reaffirming its role as one of Sri Lanka’s most reliable and high-performing financial institutions. With an aggregate score of 37.65, the bank led the publication’s annual review of the country’s top corporate entities, marking its seventeenth consecutive year among the top five strongest businesses in Sri Lanka. The ranking acknowledges the bank’s ability to maintain operational stability, serve customers effectively, and strengthen its financial footing during a period of gradual economic recovery.
Business Today described Commercial Bank as an organisation that demonstrated resilience during a defining year for the industry. The publication noted that the bank’s performance in 2024 was shaped by strategic transformation, disciplined execution, and a continued focus on sustainable growth. It commended the bank’s progress across its core business segments and its deeper emphasis on customer needs, which have contributed to its reputation as one of Sri Lanka’s most trusted financial partners.
Managing Director and CEO Sanath Manatunge said the recognition reflects the collective effort behind the bank’s steady performance during challenging conditions. He explained that the institution prioritised strengthening its fundamentals, supporting customers through uncertainty, and preparing for long-term growth. According to him, the ranking serves as confirmation that the bank’s strategy is delivering positive results and positioning it to contribute to national progress with renewed clarity and confidence.
The publication also highlighted Commercial Bank’s record financial results during the review period. Chairman Sharhan Muhseen stated that the bank achieved the highest profits in its history, attributing this success to efficient resource management, ongoing digital transformation, and a renewed focus on customer-centred operations. Business Today noted that these strengths allowed the bank to improve its market position while contributing meaningfully to broader economic recovery efforts.
Significant milestones during the year included an equity capital infusion of Rs. 22.54 billion through a rights issue and the raising of Rs. 20 billion in Tier II capital via a debenture issue. These measures strengthened capital adequacy and supported the bank’s future expansion plans. The loan book grew by Rs. 221.34 billion in 2024, marking a historic high. Group net interest income also recorded notable growth, rising by 36.71 percent to Rs. 118.13 billion, reflecting effective balance sheet management and a stable deposit base.
In assessing the broader business environment, Business Today stated that the 2024–25 Top 40 ranking recognises the resilience, adaptability, and innovation demonstrated by Sri Lankan companies as the economy gradually stabilised. The publication observed that the past year represented a turning point for many corporates following improvements in policy direction and a rise in business confidence. The organisations featured in the ranking reflect how economic stabilisation is enabling more consistent performance and cautious optimism across multiple sectors.
Commercial Bank continues to hold several industry leadership positions. It was the first Sri Lankan bank to surpass a market capitalisation of US$1 billion and the first Sri Lankan bank listed among the Top 1000 Banks of the World. It also maintains the highest Tier I capital base in the local banking sector and remains the largest private sector lender in the country. The bank is a key supporter of the SME segment and has established a strong presence in digital banking, making it Sri Lanka’s first fully carbon-neutral bank.
The bank’s operational network includes an extensive branch and ATM presence across Sri Lanka along with the widest international footprint among local banks. This includes 20 branches in Bangladesh, a majority stake in a Tier I bank in the Maldives, a microfinance company in Myanmar, and a representative office at the Dubai International Financial Centre. Its subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Ltd., add to its service portfolio through their own branch networks.
Through these developments, the ComBank Top 40 ranking underscores the institution’s steady progress, consistent financial discipline, and continued commitment to supporting the country’s economic recovery. The recognition reflects a combination of long-term planning, operational balance, and responsible growth that has shaped Commercial Bank’s journey during a challenging yet transitional year for the economy.