Business
FinanceAsia crowns ComBank as Best Bank in Sri Lanka for 12th year
The Commercial Bank of Ceylon has been adjudged the Best Bank among Sri Lanka’s domestic banks by FinanceAsia, considered the world’s foremost information source on the Asian financial markets.This prestigious accolade was conferred on Commercial Bank at the 27th FinanceAsia Country Awards gala at the Ritz Carlton in Hong Kong on 28th June. Notably, Commercial Bank was the first Sri Lankan bank to be honoured at these awards and has won the Best Bank award 12 times.
Other Country Award winners ranked alongside Commercial Bank as the Best Banks in their respective countries at this year’s FinanceAsia awards were CICC (China), HSBC (Hong Kong and South Korea), CTBC (Taiwan), and Allied Bank (Pakistan).
Commenting on the Bank’s consistent success in the FinanceAsia Country Awards, Commercial Bank Managing Director /CEO Sanath Manatunge said: “Sector-leading financial performance is, of course, fundamental to the Best Bank award, but what makes this award particularly significant is that it looks beyond the figures to assess factors like strategy, customer service, business development, ESG compliance and customer centricity. Winners are therefore institutions that did not compromise on quality to improve financial performance.”
Assessments for the FinanceAsia Best Domestic Bank awards covered the performances of banks in 2022, a period the magazine said was impacted by supply chain woes, energy disruptions, geopolitical tensions, interest rate hikes and uncertainty.
“The FinanceAsia team invited banks, brokers and ratings agencies to showcase their capabilities to support their clients as they navigated these uncertain economic times. Our awards process celebrates those institutions that showed determination to deliver desirable outcomes, through display of commercial and technical acumen,” FinanceAsia said.
Among the factors that contributed to Commercial Bank’s victory was its achievement of the highest asset base, highest deposit base, largest lending portfolio, highest net profit, and highest gross income among private sector banks in Sri Lanka in the year assessed, as well as its recording the best CASA ratio among all banks in the country, and its position as the bank with the highest market capitalization on the Colombo Stock Exchange (CSE).
The Bank was also recognised for its market position in terms of having the highest market share of deposits, loans and total assets among private sector banks, the Bank’s sustainability initiatives in 2022, deployment of technological innovations for customer convenience, its support to small and medium enterprises (SMEs) via lending and knowledge base building, and its efforts to advance its vision and strategy.First published in 1996, FinanceAsia provides readers with the latest financial trends, interviews, features and investigative reports.
Business
ComBank hands over fully refurbished wards at De Soysa Hospital for Women
The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.
Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.
Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.
Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.
The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.
Business
IIHS expands global nursing pathways
The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.
Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.
Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.
Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.
Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.
“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.
IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.
The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.
The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.
Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.
Business
Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair
Sampath GPay customers can enjoy 25% cash back on Book Fair purchases
Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.
Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.
Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”
The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.
Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.
-
News6 days agoPolice remove Thileepan statue in Jaffna
-
Features6 days agoThe 22nd Amendment, constitutional recovery and illiberal slippage
-
Features6 days agoOf foreigners as CEOs of Lankan ventures
-
Latest News4 days agoGold winner Tharanga gets brand-new Honda Vezel from SLAAJ
-
News6 days agoSajith rejects Jt. Opp. protest sabotage claim; SJB TU chief demands remedial action
-
Features4 days agoWhy Sri Lanka needs an Inclusive Civic Nationalism – urgently
-
Features5 days agoThailand’s biggest new global star …
-
News3 days agoUS-assisted ‘Ice’ detection: NPC to examine IGP’s move to transfer drug-busting team
