The Commercial Bank of Ceylon has won the titles of ‘Best Commercial Bank’ in Sri Lanka and the ‘Best Foreign Bank’ in Bangladesh in 2018 from the UK-based Global Business Outlook (GBO) magazine, ending a year of international and local accolades with twin honours across the Palk Strait.
The prestigious Best Commercial Bank 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.
This is the first occasion that Commercial Bank has participated in the Global Banking Outlook awards programme.
“This is an encouraging end to what has been a year of achievements for Commercial Bank,” the Bank’s Managing Director/CEO Mr S. Renganathan commented. “We have probably won more awards in 2018 than in any other year, demonstrating that we do not compromise on quality and performance even in challenging market conditions, and that growth can be achieved with an unwavering focus on fundamentals and best practices.”
Global Business Outlook evaluated a vast number of companies in various sectors of industry for these awards, including but not limited to Banking, Insurance, Wealth Management, Asset Management, Brokerage, Technology, Real Estate and Hospitality.
The 2018 Global Business Outlook awards reflect the innovation, achievements, strategies, and progressive and inspirational changes taking place within the global business community. The awards were created to recognise companies of all sizes, which are prominent in particular areas of expertise and excellence within their respective sectors.
Global Business Outlook is a leading information provider on critical events and developments in the world of business, providing comprehensive, detailed, factual and up-to-date coverage of Global Banking, Insurance, Brokerage, Islamic Finance, Hedge Funds, Brands, Energy, Hospitality, Real Estate Start-ups and emergent technologies such as Block Chain and Internet of Things that are set to make a major impact on people’s lives and the way they interact and do business. The magazine has a dedicated readership comprising of C-suite management and directors of some of the world’s top companies across various sectors.
The only Sri Lankan Bank to be ranked among the world’s top 1000 banks for eight years consecutively, Commercial Bank operates a network of 263 branches and 813 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and more than 20 international awards in the first eight months of 2018.
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 PyiTaw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.