Commercial Bank wins its third best bank award of 2012
The Commercial Bank of Ceylon has been conferred its third
international accolade as Sri Lanka’s Best Bank in 2012, this time from
the prestigious FinanceAsia magazine. In March 2012, Global Finance
chose Commercial Bank as the Best Bank in Sri Lanka for the 14th
consecutive year, and on July 5, the Bank received the award for the
Best Sri Lankan Trade Bank from Trade Finance magazine.
“Wining a string of international awards of this calibre does not
happen by accident,” said Ravi Dias, Commercial Bank’s Managing Director
and CEO. “It takes years of hard work, passion and commitment to
fundamentals and best practice by the entire team to consistently be
adjudged the best bank in the country.”
The FinanceAsia award is based on the respective banks’ financial
performance and considers capital adequacy, liquidity and cost income
ratios, pre and post tax profits, provisions for possible losses, return
on equity and network of branches, agents and correspondents. The Bank’s
Total Assets, Loans and Deposits portfolio, vision and long term
strategy, as well as market position versus its nearest competitor are
also evaluated by FinanceAsia for the award.
Other winners of FinanceAsia’s Best Bank awards in the region include
HSBC – Hong Kong, HDFC Bank – India, DBS – Singapore, Chinatrust
Commercial Bank – Taiwan, Hana Bank – South Korea, China Merchants Bank
– China, Siam Commercial Bank – Thailand, Public Bank – Malaysia and
Standard Chartered Bank – Pakistan.
Commercial Bank is the largest private bank in Sri Lanka, and the
only Sri Lankan Bank listed in the world’s Top 1,000 Banks. It operates
a network of 219 service points in Sri Lanka and a network of 521 ATMs,
the single largest ATM network operated by a bank in the island. The
Bank posted profit before tax of Rs 10.987 and profit after tax of Rs
8.047 billion in 2012.