“Commercial Bank not only focuses on profits, but ensures that all processes and procedures are ethical, sustainable and are able to make a significant difference in the lives of its customers and key stake holders.”
Established in 1969 in Colombo, Commercial Bank of Ceylon PLC is in the banking and finance industry and has a customer base of 3.6 million. It has maintained a steady growth in all of its business lines and has maintained good governance practices throughout its years in operation, being instrumental in delivering exceptional value to its shareholders and contributing to the uplifting of the Sri Lankan economy.
The belief at Commercial Bank of Ceylon PLC is that to become a top company in Asia, a company should have consistent financial performance, deliver value to its stake holders and should make a significant change in the lives of its customers.
The biggest challenges that the bank faces currently is the sharp increase in interest rates, which resulted in tightening of liquidity. However, it was able to correctly assess its situation and is now one of the most liquid banks in the country. Commercial Bank’s focus on customer convenience and its strong ethic of building relationships with its customers enabled it to stay stable and offer superior customer service to ensure that even during times of fluctuating interest rates, customers would stay with the bank.
The bank’s phenomenal strength ensured that top companies as well as SMEs and micro level businesses were serviced equally. Complementing this are the competitive strength of its network of branches (256, with 75 in operation outside traditional banking hours) and ATMS (over 650) spread around the island; over 1000 correspondent banks around the world; a diverse portfolio of products and services that cater to all age groups and socio economic groups; and a team of highly professional and capable staff. The organisation is also the first private bank to achieve an asset base of Over Rs.1 trillion. Commercial Bank of Ceylon is also the most awarded bank in Sri Lanka.
As the largest private bank in the country, Commercial Bank’s customer base is diverse and includes all socio economic groups, ensuring that everyone from a farmer in a remote village in Sri Lanka to a senior executive of a top corporate entity in the business capital of Sri Lanka are serviced equally.
Milestones that the bank has accomplished include being the only private bank in Sri Lanka to achieve one trillion assets; the only Sri Lankan bank to achieve a market capitalisation which exceeded Rs. one billion; the most awarded bank in Sri Lanka which has also been ranked in the Top 1000 Banks in the World for the seventh consecutive year; the Sri Lankan Bank with the largest footprint in Asia and emerging as the largest financier to Small and Medium Entrepreneurs (SME) in the country.
Commercial Bank also enjoys one of the lowest human capital turnaround figures in the industry and supports their members of staff in their upgrading of skills and training sessions – something which has now is arranged at the regional level.
The bank also actively promotes work life balance among its staff members and organises many events to facilitate this. Events such as children’s carnival, Christmas carols and sports tournaments are organised and funded by the bank. Furthermore, the bank owns seven holiday bungalows where staff can reserve and vacation with their families for a nominal charge. Last but not least, ethical standards are held to the highest levels with documented policies on Code of Ethics and the Whistle Blower Charter.
Commercial Bank not only focuses on profits, but ensures that all processes and procedures are ethical, sustainable and are able to make a significant difference in the lives of its customers and key stake holders. This honest and transparent approach has won the loyalty of customers and ensured that the bank stays on top of its game.
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As One Of Asia’s Top Leadership and Sustainability Players