Commercial Bank Bangladesh marks a decade at the top with 10th successive ‘AAA’ rating

The Bangladesh operations of Commercial Bank of Ceylon PLC achieved another milestone in 2020 with the assignment of an ‘AAA’ (Triple A) long term credit rating for the 10th consecutive year by Credit Rating Information and Services Ltd. (CRISL).

Commercial Bank of Ceylon Bangladesh also received a short term rating of ‘ST-1 – Outlook Stable’ from CRISL, the premier rating agency in Bangladesh, the bank said in a media release.

AAA and ST-1 are the highest credit ratings given to a financial institution in Bangladesh by CRISL for long and short term credit respectively. The latest ratings are valid till June 2021.

“Receiving the highest available credit rating for 10 successive years is a new paradigm in consistency, especially when the volatility of local and global economies is considered,” Commercial Bank Managing Director and CEO S. Renganathan said. “As the first Country Manager of the Commercial Bank of Ceylon Bangladesh operation, I am delighted with this achievement and congratulate our Bangladesh team for keeping the ComBank flag flying high in that country.”

The CRISL rating is the outcome of an in-depth analysis of the operational and financial performance of the bank along with relevant quantitative and qualitative factors. The basis of the evaluation was the financial results of the bank up to December 31, 2019 and subsequent factors that prevailed up to the date of the rating.