ComBank, Sri Lanka’s ‘Most Respected Bank’ for record 16 years | Daily News


ComBank, Sri Lanka’s ‘Most Respected Bank’ for record 16 years

Ranked No 1 overall for Honesty and No 1 for Financial Performance in LMD’s 2020 rankings

Achieves the second place in main ranking of Most Respected Entities in the country

The Commercial Bank of Ceylon has been adjudged the ‘Most Respected Bank’ in Sri Lanka and been ranked Number One among all corporates in the country for ‘Honesty’ and ‘Financial Performance’ in the 2020 edition of the ‘Most Respected Entities in Sri Lanka’ just released by LMD magazine.

Sri Lanka’s leading private sector bank not only retained its position at the pinnacle of the Banking sector for the 16th successive year, it achieved the second place in the overall ranking. Commercial Bank was placed in the overall No 1 position of this list in 2009.

Announcing the latest rankings, LMD said the 10 most admired businesses in Sri Lanka in 2020 include diversified conglomerates, multinational consumer goods companies and leading players in apparel and telecommunications in the country.

“Commercial Bank has the honour of being perceived by its peers as the benchmark for financial performance and honesty,” LMD said. “We are naturally elated to be ranked at the very top in two of the most important attributes – Honesty and Financial Performance and to remain the Most Respected Bank in Sri Lanka for the 16th year running,” Commercial Bank Managing Director, S. Renganathan said.

“Earning and retaining the respect of our peers for such an extended period of time affirms in no uncertain terms that the perceptions of the Bank are backed by solid proof of its conformance to the highest expectations of all stakeholders.” The 10 attributes by which companies are ranked for the LMD Most Respected Entities ranking are Financial Performance, Honesty, Quality Consciousness, Management Profile, Dynamism, Corporate Culture, Vision, Innovation, CSR and Nation-mindedness. Commercial Bank was ranked among the top five corporate entities in Sri Lanka in 2020 in seven of the 10 attributes.

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