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Bank of Ceylon celebrates 83rd Anniversary steering strongly and steadily

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Sri Lanka’s No. 1 Bank, Bank of Ceylon, marks its 83rd Anniversary today. The Bank will celebrate the occasion beginning with a multi-religious ceremony at the Bank’s Head Office with the participation of distinguished guests comprised of customers and well- wishers.

The event will be held with the patronage of the Bank’s Chairman, Kanchana Ratwatte, Members of the Bank’s Board of Directors, the General Manager, K. E. D. Sumanasiri, and the Corporate and Executive Management and Bank officials. In line with the ceremony, the branch network will also celebrate this important milestone at their own premises with the participation of customers and well-wishers.

To mark this special day, BOC will symbolically launched “My Health” account emphasising its innovative spirit in delivering novel value additions to customers. In addition, the Bank will also launche BOC Foreign Circle, a specialised unit geared to delivering superior quality to overseas based customers.

Of further note is the opening of the newly refurbished Bank’s historically significant 1st branch at 41, Bristol Street, Colombo 1, known as the “City Office” on the same day.

BOC Chairman Kanchana Ratwatte said, “I believe it is a commendable achievement for a corporate brand to reach its 83rd anniversary in its journey. As a trailblazer in the industry and a dedicated corporate citizen, Bank of Ceylon (BOC) commemorates this day with humility. With a rich heritage that has evolved along with Sri Lankan culture, and as the No. 1 Bank in the country, BOC’s purpose has always been to enrich the lives and the livelihood of the citizens of Sri Lanka. Hence, innovation and developments towards digitalisation is an organic process within the bank. I wish to take this opportunity to thank our valued customers and all other stakeholders on behalf of the Bank for the confidence placed on the bank and inspiration given to continue the Bank’s legacy”.

“Our Journey as the No. 1 Bank in the country has always been a challenging, yet inspiring one,” stated the General Manager of Bank of Ceylon, K. E. D. Sumanasiri.

“We must thank all our staff members especially, including those who were there since the inception, our loyal customers and valued stakeholders for setting the foundation that the Bank could build itself strongly and steadily to survive and thrive even during strenuous times. Bank of Ceylon ensures that it upholds the values that it was built on and ensures that it has a strong footing both locally and internationally. As the largest bank that boasts of an asset base that exceeds four trillion rupees, BOC ensures that it redistributes its wealth to enhance the country’s wellbeing, through a strong inter-connected branch and digital network and a product portfolio that is developed to cater to the needs of our customers around the clock, wherever they are. We have introduced new initiatives such as “SME Circle” and “Export Circle” by taking a step to further develop entrepreneurship within the local SME and export sectors. This was an extension of BOC’s decision to assist customers through specialised concessionary schemes to overcome continuous economic challenges that took place in recent times. As a prominent financial institution, we are also committed to build a financially and digitally inclusive community aiming for a positive impression on economy.” Sumanasiri further added.

From the inception of the Bank, with the opening of its first branch, the “City Office Branch”, Bank of Ceylon has increased its footprint to include a network of up to 649 branches, and 1,415 ATMs, CDMs and CRMs across the country. Its overseas presence includes branches in Chennai, Male, Hulhu-Male, Seychelles and a banking subsidiary in London. BOC has systematically established its roots within every facet of banking and finance, simultaneously building a strong affiliation with the international banking network. With these strong ties BOC leads the trade finance and inward remittances market in Sri Lanka.

Adopting the latest digital banking technologies, the Bank successfully embarked into green banking where it accommodated strategies to reduce its carbon footprint and increase its usage of renewable energy. BOC has built its strategic green banking initiatives according to United Nation’s SDG guidelines to ensure that the intended value is generated to all stakeholders.

Being recognised by Brand Finance Lanka as the Country’s No. 1 Banking Brand with a brand value of over Rs. 53 billion, Bank of Ceylon boasts of a strong balance sheet with assets worth over Rs. 4 trillion and deposits of over Rs. 3 trillion.

“The Banker” Magazine U.K. named Bank of Ceylon as the “The Bank of the Year 2021” and also recognised it among the “Top 1000 Banks” in the world with a country ranking of No. 1, again by “The Banker” magazine, UK.

“SLIM-Kantar People’s Awards 2022”, adjudged Bank of Ceylon as the “People’s Service Brand of the Year 2022” and “the People’s Banking Services Brand of the Year 2022,” which are two prominent awards in the ceremony based on a people’s vote.



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India’s rise in manufacturing sector seen as holding out possibilities for SL

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India’s rise in manufacturing sector seen as holding out possibilities for SL

India’s rapid rise as a global manufacturing hub and consumer market is reshaping South Asia’s apparel landscape, creating both urgency and opportunity for Sri Lanka to reposition itself through deeper regional integration, Acting Indian High Commissioner to Sri Lanka Dr. Satyanjal Pandey said recently at the Sri Lanka Apparel Exporters Association (SLAEA) Annual General Meeting in Colombo.

Addressing industry leaders at Cinnamon Life, Dr. Pandey said the next phase of growth in South Asian apparel will be driven not by competition within the region, but by collaboration across it, particularly between India and Sri Lanka.

“India and Sri Lanka bring very different but highly complementary strengths, he said. “India offers scale, raw materials, a vast labour pool and a rapidly expanding domestic market. Sri Lanka brings world-class manufacturing standards, compliance, speed, flexibility and trusted relationships with premium global brands. Together, these strengths can create globally competitive regional value chains.”

Dr. Pandey revealed that India had concluded a major trade agreement with the European Union earlier in the day, granting tariff-free access across more than 9,000 product lines, including apparel, with tariffs reduced from 12 percent to zero.

The agreement, he noted, reinforces India’s growing centrality in global trade and underscores the need for Sri Lanka to move swiftly in aligning its trade and investment strategies with regional developments.

He stressed that India’s objective is not to displace Sri Lankan apparel producers, but to grow together in an increasingly complex global market where buyers are demanding resilience, sustainability and regional diversification.

India today is one of the world’s fastest-growing major economies, with a large and youthful population, expanding middle class and rising apparel consumption. For Sri Lankan manufacturers, this presents opportunities not only as a sourcing partner, but also as an export destination for value-added apparel, technical textiles and sustainable fashion.

Against this evolving landscape, Sri Lankan industry leaders highlighted the urgency of aligning domestic policy and regulatory frameworks with India’s accelerating trade momentum.

Sri Lanka Exporters Association chairperson Ms. Rajitha Jayasuriya said global regulatory compliance has become a prerequisite for market access, particularly in Europe.

She pointed to the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), enhanced traceability requirements and Digital Product Passports (DPPs) as measures that will increasingly shape trade flows.

“These are no longer optional standards. They are a licence to operate, she said, adding that Sri Lanka must urgently build national support systems to help SMEs and supply chain compliance through transparency, sustainable materials and robust data systems.

Jayasuriya warned that failure to secure the renewal of Sri Lanka’s GSP Plus facility would further weaken competitiveness, especially as India strengthens its trade position with the EU.

“With India moving ahead rapidly, Sri Lanka must mobilise faster to protect preferential access and avoid erosion of market share, she said.

India also featured prominently in the industry’s forward-looking trade agenda.

Jayasuriya said priorities for 2026 include securing quota-free access to the Indian market, ensuring predictable trade flows and deepening Sri Lanka’s integration into India-centric regional value chains.

“A stronger India–Sri Lanka apparel corridor is not just an economic opportunity; it is a strategic imperative, she said.

Policy reform at home was identified as a critical enabler of regional integration.

Jayasuriya called for accelerated digital reforms, including the introduction of a fully fiscalised e-invoicing system for exporters, to improve liquidity, compliance and transparency.

She noted that countries such as India have already moved ahead in this area, strengthening their competitiveness.

The apparel industry’s performance in 2025, she said, demonstrated what is possible when factory-level resilience is matched by responsive policymaking. However, she cautioned that regional competitors such as Cambodia, Vietnam and Bangladesh continue to move aggressively on scale, automation and trade agreements.

By Ifham Nizam

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Arpico NextGen Mattress gains recognition for innovation

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(From Left – Right) Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, represented by Lalith Wijeyesinghe, Managing Director, and Jayanatha Alwis, Deputy General Manager - Manufacturing, accept the award and certificate for the Innovative Product of the Year Award

Arpico, the longstanding frontrunner in Sri Lanka’s mattress industry, recently received the award for 2nd Runner-Up in the category of Innovative Product of the Year at the 2025 PRISL Industry Awards. Hosted by the Plastic and Rubber Institute of Sri Lanka (PRISL), the awards honour outstanding industry contributions to the plastics, rubber, latex, and recycling sectors.

Awarded for Arpico’s NextGen mattress, the recognition reaffirmed the company’s commitment to crafting state-of-the-art sleep solutions and providing its customers with seamless retail experiences.

The Arpico NextGen mattress stands as a distinctive example of Arpico’s vision. With its inclusion of profile-cut air-cooling pocket technology, the NextGen mattress is the product of intensive research and development, designed to align with Arpico’s mission to innovate products that enrich everyday living. Built using cutting-edge German Computer Numerical Control (CNC) foam-cutting technology, the NextGen’s design aims to amplify cooling, essentially enhancing sleep quality through its superior comfort, adaptive support, and long-lasting performance, allowing sleepers to wake rejuvenated.

Discussing the award, Lalith Wijeyesinghe, Managing Director of Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, said, “The award is a testament to the efforts and ingenuity of our team, led under the visionary guidance of our Group Chairman, CEO, and Managing Director of Richard Pieris & Company PLC, Dr Sena Yaddehige. It reaffirms our endeavours to design products that integrate emerging technologies for the benefit of our customers. Furthermore, we recognise the award as an incentive to continue pushing the boundaries of our achievements and pursue ever greater heights of success.”

 Arpitech (Pvt) Ltd is a leading trailblazer in polyurethane foam and spring mattresses, sheets, cushions, and siliconised fibre pillows, backed by a corporate legacy spanning over four decades of manufacturing excellence. The company upholds the highest quality standards, having secured the prestigious ISO 9001:2015 certification. Furthermore, Arpico adheres to the SLS standard for its acclaimed Arpifoam. Renowned as a trusted brand, Arpitech (Pvt) Ltd draws from the 90-year legacy of its parent company, the Richard Pieris & Company PLC. From a modest beginning as a filling station in 1932, Richard Pieris & Company has grown into one of Sri Lanka’s most diversified business conglomerates with interests in retail, plantations, rubber, furniture, tyres, plastics, insurance, stockbroking, financial services, and logistics. It is one of the largest listed entities on the Colombo Stock Exchange, with a remarkable annual turnover.

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Advice Lab unveils new 13,000+ sqft office, marking major expansion in financial services BPO to Australia

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Advice Lab, a leading provider of financial services BPO solutions to the Australian market, announced the opening of its new 13,000+ square‑foot office in Colombo, one of the most modern and dynamic workspaces in Sri Lanka. The move marks a significant milestone in the company’s rapid growth as a BPO and highlights its ongoing commitment to creating valuable job opportunities across Sri Lanka’s professional workforce.

The state‑of‑the‑art facility has been thoughtfully designed to support the company’s expanding operations and its growing portfolio of Australian financial advisers, accountants, and mortgage professionals. Purpose‑built for scale and efficiency, the workspace accommodates larger teams and advanced technology infrastructure while prioritizing employee well‑being and productivity. This emphasis on a people‑first culture is reflected in the inspiring, comfortable, and energizing environment created throughout the new office.

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