ComBank wins “Bank of the Year’ award from ‘The Banker’- UK
View(s):The Commercial Bank of Ceylon has been crowned Sri Lanka’s ‘Bank of the Year’ by the respected ‘The Banker’ magazine of the UK, the Oscar equivalent of the banking fraternity.
This is the 12th occasion that Commercial Bank has won this coveted award which is presented in recognition of the bank’s ability to deliver returns, gain strategic advantage and serve the market while being regarded as the industry standard for banking excellence, the bank said in a media release.
‘The Bank of the Year’ title is conferred upon financial institutions excelling in growth and performance, strategic initiatives, innovation in technology, new or upgraded products and services, and other noteworthy achievements in the field.
“Being named Bank of the Year 12 times is a remarkable achievement by any standards,” Commercial Bank Managing Director/CEO Sanath Manatunge observed. “Winning this title in respect of 2022 is particularly noteworthy in the context of the conditions that prevailed. Our performance under intense pressure is a tribute to the entire Commercial Bank team, which has delivered consistently, leading to the numerous accolades won this year.”
A banking sector benchmark and the largest private sector bank in Sri Lanka, Commercial Bank’s assets grew 20.51 per cent to Rs. 2.390 trillion in the first nine months of 2022, reaffirming its position as one of the strongest banks in the country. The bank also achieved a gross income of Rs. 195.573 billion for the first nine months and Rs. 76.056 billion for the third quarter of 2022, reflecting robust growth rates of 62.91 per cent and 89.58 per cent respectively and reported a net profit of Rs. 6.283 billion for the period.
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