The Commercial Bank of Ceylon has been adjudged the ‘Best Commercial Bank’ in Sri Lanka and the ‘Best Foreign Bank’ in Bangladesh in 2020 by the UK-based Global Business Outlook (GBO) magazine, adding to the growing list of international awards won by the bank this year.
The Global Business Outlook awards recognise and reward excellence in business of companies all over the globe, both in the public and private sectors. Its goal is to ensure that innovation, creativity and the drive to create value get due recognition.
The magazine invited and accepted applications from companies that performed in exceptional terms, created great value, business edge and market recognition, the local bank said in a media release.
The prestigious ‘Best Commercial Bank in Sri Lanka’ award is based on quantitative as well as qualitative indicators encompassing the bank’s financial performance in the year of assessment, its impact on the national economy, financial inclusion and rural development, geographic range, achievements, new products, CSR initiatives and awards and accolades.
The Best Foreign Bank award presented to Commercial Bank Bangladesh recognises growth achieved in new accounts, deposits and advances, services offered to corporate and personal banking customers, new products and the growth of the bank’s Online Banking services in that market.
At the close of 2019, the CBC Bangladesh achieved a 28.79% growth in deposits, 20.62% growth in Profit After Tax, and a 5.71% increase in the number of accounts. The bank’s CSR focus has been to help underprivileged segments of society, particularly poor students.
This is the third occasion that Commercial Bank has been recognised with awards by Global Business Outlook magazine.
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