ComBank adjudged 'Best Trade Finance Bank in Sri Lanka’ by Asian Banker for 3rd consecutive year 

The Commercial Bank of Ceylon was declared the ‘Best Trade Finance Bank in Sri Lanka’ for the third year in a row at the 2020 Asian Banker Transaction Awards recently, in recognition of its achievements in cash management, payments, and trade finance. 

This prestigious accolade was conferred on Commercial Bank following a thorough evaluation by the magazine with an audit-based approach. The rigorous selection process took place over several months and involved feedback and interviews with all constituents in a position to comment on the candidates. It was anchored by a panel of global leaders and subject matter experts as advisors, the local bank said in a media release.

A survey of domestic institutions that use Commercial Bank’s trade finance services, corroborated by interviews and an evaluation of changes in the market share of competitors, the size and strategic importance of the transaction business as a percentage of the bank’s business, the contribution of the transaction business to total income, the growing annuity value of the business, core and recurrent customer base and the benefits of processing efficiencies and cost management that are passed on to the bank’s clients were among the determining factors that led to the bank winning this award.