BOC only State institution among Top 10 Most Admired Companies | Daily News

BOC only State institution among Top 10 Most Admired Companies

Prime Minister Wickremesinghe and the Indian High Commissioner Taranjit Singh Sandhu presenting the Award “Top Ten Most Admired Company in Sri Lanka” to the Bank’s Chairman, President’s Counsel Ronald C. Perera and the CEO/ General Manager Senarath Bandara
Prime Minister Wickremesinghe and the Indian High Commissioner Taranjit Singh Sandhu presenting the Award “Top Ten Most Admired Company in Sri Lanka” to the Bank’s Chairman, President’s Counsel Ronald C. Perera and the CEO/ General Manager Senarath Bandar

Sri Lanka’s No.1 Bank, Bank of Ceylon was conferred as one of the “Top Ten Most Admired Companies in Sri Lanka” at the 2nd convention organized by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA) to recognize Sri Lankan companies that have excelled in their respective industries and contributed to the overall economic growth of the country.

Having completed 80 years of unwavering service to the Nation, Bank of Ceylon is said to be the highest profit earning single business entity in the country as at today. It is also one of the significant contributors towards economic growth of the country and takes greater responsibility in every possible way to assist the Government initiatives towards social and economic development.

The award was presented at a ceremony held recently attended by the Prime Minister Ranil Wickramasinghe as the Chief Guest.

“As a state bank, recognition as being among the Top Ten Most Admired Companies in Sri Lanka, is the result of a collective effort made by all stakeholders who are linked with the Bank, that necessarily includes the Government of Sri Lanka and all Sri Lankans as one. We have always looked at sustainable growth as a win-win situation for all, thus the nature of our operation strives not only for business excellence but value creation for everyone who are involved. As “Banker’s to the Nation” we admit that our scope is very large and diverse compared to many organizations, but we have envisioned that all our products and service lines will stream lined focusing on long-term financial soundness encompassing quality of management, Good Governance, Human Resources, innovation and ability to attract and build relationships over time,” stated the Chairman, President’s Counsel Ronald C. Perera.

Commenting on the achievement the Bank’s CEO/ General Manager Senarath Bandara said “Our score card has always exhibited unprecedented records, but we believe it is the underlying values and believes we have that built the mechanism for our work-process to flow in order to create value for all stakeholders in the long-term. Bank of Ceylon (BOC) is currently holds the highest asset base, which is Rs. 2.2 Trillion, owned by a single Sri Lankan business entity. It also has the highest valued loans and advances portfolio which is Rs. 1.5 Trillion and the highest deposit base Rs. 1.8 Trillion held by a business entity in the country.”

It was able to add value to its key stakeholder the Government of Sri Lanka as a direct contribution of Rs.24 Billion in terms of dividends and taxes. This is apart from assisting the Government of Sri Lanka with its progressive agenda towards a socially equitable and an economically developed country. The bank has a broader perspective in terms of assisting to develop entrepreneurship, employment, assisting to sustain social and economic growth and preserving the environment whilst maintaining corporate ethics. The Bank’s Good Governance policy ensures that all operations and dealings are carried out in a transparent manner. We have been recognized in numerous events for our commitment towards these values.”

“All organizations were shortlisted through a process that evaluated their performance that has gone beyond their profit making objective to actually create value for the Government, other shareholders, customers, employees and a wider community in general.”


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