Sri Lanka is once again represented in the top 1,000 banks in the world, with the inclusion of the Commercial Bank of Ceylon to this prestigious annual ranking by the UK based ‘The Banker’ magazine, the local bank said.
Commercial Bank is the only Sri Lankan Bank in this ranking by the premier magazine serving the world’s investment, retail and commercial banking sectors.
The local bank has been ranked 52nd in the world in the Performance category (assessed on profits on average capital) and 986th on Tier 1 capital, the criterion widely accepted as the most important benchmark for assessing the financial stability of a bank, in the publication’s July 2011 issue.
“The significance of this achievement by Commercial Bank is evident when viewed in the context that only three banks from Singapore are ranked among the top 1000,” Commercial Bank Managing Director Amitha Gooneratne said in a press release. “This is an excellent and timely endorsement of the bank’s stability and robust performance at a time it is poised to play a key role in supporting economic development in the country as its leading private bank.”
Among the banks surpassed by Commercial Bank in the different areas of assessment by The Banker are some of the world’s largest banks including the Bank of America, Citigroup, Bank of China, HSBC Holdings, Deutsche Bank and Barclays. |
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