ComBank - only Sri Lankan Bank in Top 1000 World Banks for 10 successive years

The Commercial Bank of Ceylon has brought honour to the country’s banking industry by moving up 51 places on the World’s Top 1000 Banks ranking for 2020, and become the only Sri Lankan bank to be on this prestigious list for 10 years in a row.

In its milestone 50th ‘Top 1000 World Banks’ ranking, ‘The Banker’ magazine, published by the Financial Times of the UK, has ranked Commercial Bank at No. 878, primarily on the basis of the bank’s Tier I capital, the local bank said in a media release.

“Commercial Bank was the first Sri Lankan bank to enter the Top 1000 World Banks ranking, and to remain on this ranking for 10 consecutive years in the midst of local and global challenges is a strong testament to our strength and resilience,” the bank’s Managing Director S. Renganathan said. “To be benchmarked against global giants and to move significantly up the ranking this year is no mean task, and is extremely encouraging to every member of the Commercial Bank team as we face the unprecedented challenges of the COVID-19 pandemic.”

The Banker ranks banks from 1 to 1,000, primarily on tier-one capital, and regional breakdown is supported with editorial commentary, making the Top 1000 World Banks one of the most industry-recognised rankings available. This year's ranking adds a new Best Performing Banks ranking using a newly developed model to compare leading G20 banks across eight key performance categories; highlighting the banks’ relative strengths and weaknesses going into the crisis and indicating which are likely to emerge in best shape.

Commercial Bank is celebrating its 100th anniversary this year. The bank enjoys the position of the Most Awarded Bank in Sri Lanka, having won more than 50 international and local awards in 2019, and operates a network of 268 branches and 865 ATMs in Sri Lanka.

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the bank has a fully-fledged Tier I Bank with a majority stake.