Commercial Bank expands in Bangladesh with two more branches

The Commercial Bank of Ceylon, the country's leading private sector bank, has opened two new branches in Bangladesh, increasing the number of outlets in that country to seven, with five branches and two booths.

The first of these branches was opened in Syhlet, a key regional town located 250 kilometres north-east of Dhaka and will serve this centre of the tea industry in Bangladesh.

This is Commercial Bank's second branch in a regional city in Bangladesh, the first being in Chittagong, the bank said in Colombo.

Picture shows Commercial Bank Chairman Mahendra Amarasuriya (right) addresses the gathering at the branch opening. Also in the picture is (from left) S. Prabagar, Chief Manager - Operations, S Renganathan, Country Manager and George Gomez, Manager of the Uttara branch.

The second branch was opened in Uttara, an important industrial suburb and a business hub of Dhaka. Uttara is located very close to the Dhaka International Airport and is home to many industrial, trading and small and medium enterprises.

Most of these business enterprises have been attracted to Uttara due to its unique location.

The Commercial Bank of Ceylon entered the Bangladesh market in 2003, when it acquired Credit Agricole Indosuez operations in Bangladesh consisting of two branches in Dhaka and Chittagong and two booths in Gulshan and Sonargaon.

The Bank later opened one more branch at Dhanmondi and has introduced several new services to the local market.