Business
BOC targets Rs. 50 bn coronavirus business bounce back loans
Bank of Ceylon chairman Kanchana Ratwatte engages in religious activities at BOC headquarters in Colombo yesterday with Acting General Manager D.P.K Gunasekera, Board of Directors, senior management and staff. Pic by Sujatha Jayaratne
by Sanath Nanayakkare
Bank of Ceylon (BOC) chairman Kanchana Ratwatte said in Colombo yesterday that the Bank has set its sights on distributing Covid-19 bounce back business loans totaling Rs. 50 billion going forward.
“The government has developed and announced a range of measures aimed at supporting the economy, businesses and employees through the COVID-19 crisis, and the BOC will play a significant role in the government’s business support mechanisms with a view to reigniting the economy back to pre-Covid-19 level”, he said.
BOC chairman made these remarks at an event where BOC celebrated its 81st anniversary, leading the banking and finance landscape in Sri Lanka.
Speaking further Ratwatte said: “The Central Bank has proposed loan schemes to help revive affected businesses and increase money circulation in the country. BOC staff and senior management should work as one to achieve this objective. Under trying circumstances during the pandemic the entire staff rallied round BOC to keep the wheels of commerce moving in the country. BOC made a significant role in moving the economy in the right direction. I want to thank the government and the Central Bank for their guidance and support during this period. Entire staff of the bank had to make many sacrifices too.
‘’Those efforts were never mentioned in the media or elsewhere. In fact, it was under very trying circumstances, services were rendered by the banking sector. Despite the health risk, we kept the banks open throughout the period. Everybody from the lower level employee to the DGM to Acting GM made their fullest contribution to keep BOC operations moving. The health threat is not over yet, But we need to get our 12 million strong customers participating actively in the economy back again. We have started going to regions in the country and encouraging our customers to come to the bank and start their normal business activities.
‘’BOC has a share of 40% of foreign remittances and we have been able to maintain that level up to the end of July except for the month of June where there was a small deviation. Every other month despite the covid situation foreign remittances have flowed to the bank as usual. I would like to call upon the staff and senior management of BOC that despite the challenges we are facing, we need to address the concerns of the government of Sri Lanka. The main focus of the government is to ensure that there is enough liquidity in the system. Most of the relief schemes and moratoriums have been introduced by the Central Bank to ensure that there is adequate money circulation in the market for which purpose we have to think beyond the usual banking practices – without breaking the rules and well within the realm of our accepted banking practices – and help keep the wheels of commerce moving”.
D.P.K Gunasekera, Acting General Manager-BOC said,”BOC has distributed about Rs, 9 billion coronavirus business bounce back loans. Potential loan grants worth Rs. 6 billion have been registered with the Central Bank. In addition to that, our branch network is currently in the process of reviewing loans worth Rs. 12 billion. Thus BOC is working ‘shoulder to shoulder’ with the government to achieve quick economic recovery”.
A number of leading businesspeople of the country who are top-line customers of the bank took part in the event.
Senior business leaders, economists and international development experts, alongside the Prime Minister of Sri Lanka, will headline the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12 and 13 October at the Shangri-La Colombo.
The Summit will open with a keynote address by T. Krishnakumar, Chief Executive Officer, Reliance Consumer Products Ltd, who brings more than four decades of experience in the consumer brands and FMCG sectors. Having previously served as President of Coca-Cola India and Southwest Asia, with extensive experience in building businesses and driving growth across emerging markets, Krishnakumar, more popularly known as Kk, now leads Reliance Consumer Products as it expands across categories and builds new customer, partnership and market opportunities.
Day 2 will bring together four international perspectives across discussions on economic resilience, regional connectivity, sector growth and digital transformation.
Lilia Aleksanyan, Senior Country Economist for Sri Lanka at the Asian Development Bank, will open the day’s discussions with a focus on Sri Lanka’s economic resilience. Her work covers the country’s macroeconomic outlook, policy advice and macro-fiscal and financial-sector reform. Her international policy experience also includes roles at the French Ministry of Finance and the French Central Bank.
The Summit will then turn to Sri Lanka’s connections with regional markets, with P. D. Singh, Chief Executive Officer, India & South Asia, Standard Chartered Bank, delivering the keynote for the session on trade corridors and value chains. Singh counts close to three decades of experience in banking and finance, with senior leadership roles spanning Standard Chartered, JPMorgan Chase Bank and HSBC.
The Sector Deep Dives will bring international perspectives to discussions on healthcare and energy.
Tushar Shroff, Chief Financial Officer, Zydus Lifesciences Ltd, will deliver the keynote for the healthcare discussion, drawing on more than three decades of experience in corporate finance, strategic investment and financial transformation. His career spans senior finance and leadership roles with ABB, Piramal Healthcare, Intas Pharmaceuticals and Vedanta Group, giving him a broad perspective on the business and investment decisions shaping the healthcare sector.
For the energy-focused deep dive, Edore Onomakpome, Regional Infrastructure Industry Manager for Bangladesh, Sri Lanka and Nepal at the International Finance Corporation, will bring extensive experience in infrastructure investment and project finance across emerging markets. Since joining IFC in 2013, she has held senior roles across Africa and South Asia, including managing IFC’s infrastructure portfolio across 16 countries.
The Summit will conclude its keynote programme with Prime Minister Dr. Harini Amarasuriya, who will deliver the keynote for “Nation Building in the Digital Age.” The Prime Minister also oversees the Ministry of Education, Higher Education and Vocational Education, bringing a direct policy perspective to discussions on digital transformation, innovation, education and the skills needed for a changing economy.
Together, these perspectives will bring regional, international and policy insight to SLEIS 2026 as Sri Lanka considers how to strengthen economic resilience, attract investment, deepen regional connections and develop new sources of growth.
Held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy,” SLEIS 2026 will take place on 12 and 13 October 2026 at the Shangri-La Colombo.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Microsoft Sri Lanka (Pvt) Limited, Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations for SLEIS 2026 are now closed. The Ceylon Chamber looks forward to welcoming participants to the discussions on Sri Lanka’s future trajectory on 12 and 13 October.
Commercial Bank of Ceylon has launched ‘Prestige’, a three-tier banking proposition aimed at high-net-worth (HNW) clients, combining wealth management, advisory services and lifestyle benefits.
The initiative replaces the bank’s existing ‘Elite’ private banking brand with Ruby, Sapphire and Diamond tiers, designed to cater to customers according to their wealth profiles and banking relationships.
The bank said Prestige would provide dedicated relationship managers, priority branch services, preferential rates on loans and deposits, enhanced card privileges, family banking programmes and offshore account solutions.
Its wealth and investment management services include access to capital-protected income solutions, dual-currency investments, institutional deals and estate and portfolio governance.
Clients will also have access to specialist financial and corporate advisory services, including assistance with international relocation, overseas property and capital repatriation.
The programme includes lifestyle benefits such as VIP airport lounge access, travel concierge services, property management and medical coordination, as well as access to selected art and culinary events.
The bank said its flagship Prestige banking residence at R.G. Senanayake Mawatha, Colombo 07, had been refurbished, with the service to be extended to other economically important cities.
Commercial Bank Managing Director/CEO Sanath Manatunge said Prestige was intended to support customers in managing their wealth, business interests, family needs and long-term legacy.
Existing Elite clients are being transitioned to the new programme, the bank said.
Ceylinco Life has rewarded 80 members of its sales force with overseas tours to Vietnam and China for their outstanding performance in the company’s 2025 sales competitions.
The group comprised 62 sales achievers who travelled to Vietnam and 18 who visited China.
The Vietnam tour included visits to Hanoi’s Ho Chi Minh Complex, One Pillar Pagoda, Tran Quoc Pagoda and Hoan Kiem Lake. The group also travelled to Ha Long Bay, where they went on an Aurora Cruise and explored attractions including Sung Sot Cave, Luun Cave and Titop Island.
The tour also featured a sunset party aboard the cruise, with music and refreshments.
The 18 achievers who travelled to China visited several of Beijing’s major historical and cultural attractions, including Tiananmen Square, the Forbidden City and the Summer Palace. They also took a boat ride on Kunming Lake.
A highlight of the China tour was a visit to the Mutianyu section of the Great Wall, including a round-trip cable car ride. The group also attended an acrobatic show at Chaoyang Theatre and visited the Panda Garden at Beijing Zoo.
The company said the tours were organised to recognise and reward sales personnel for their performance and achievements.
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