Business
ComBank adjudged ‘Best Bank in Sri Lanka’ by Global Finance for 23rd year
The Commercial Bank of Ceylon has once again been recognised as the ‘Best Bank in Sri Lanka’ by the US-based Global Finance magazine, conferring this coveted accolade on the bank for an unprecedented 23rd year.
Global Finance’s ‘World’s Best Banks 2025’ list encompasses financial institutions in nearly 150 countries including 28 in the Asia Pacific region, whose best banks have just been announced by the magazine.
The 2025 edition of Global Finance’s Best Banks in the Asia Pacific region names Commercial Bank alongside leading banks of the calibre of CBA (Australia), China Construction Bank (China), HSBC (Hong Kong), ANZ (New Zealand), DBS (Singapore), SMBC (Japan), State Bank of India (India), City Bank (Bangladesh) and CTBC (Taiwan) which were adjudged the best banks in their respective countries.
“Global banking continues to adapt and evolve, meeting challenges and capitalizing on opportunities with resilience and innovation. AI has quickly taken a pivotal role in the transformation of banking, and its growth promises to reshape the financial sector at an unprecedented pace,” the founder and editorial director of Global Finance Joseph D. Giarraputo said. “Global Finance’s Best Bank Awards honour financial institutions that excel in diversity of offerings, long-term stability, and technological innovation.”
Commercial Bank Managing Director/Chief Executive Officer Sanath Manatunge commented: “The concluded financial year was one of unparalleled milestones and transformative success for Commercial Bank of Ceylon, and is particularly significant in the context of the debt restructuring and other socio political challenges that we had to manage. The Bank also raised Rs 22.54 billion through a remarkably successful rights issue, managed an outstanding debenture issue, demonstrated exceptional financial resilience and market trust, and won 115 international and local awards, while breaking new ground in sustainability, digitisation and initiatives to help SMEs and women entrepreneurs. It is not surprising therefore, that we have once again been crowned the Best Bank in Sri Lanka.”
Global Finance’s Best Banks are to be honoured at an awards ceremony to be held during the IMF/World Bank annual meetings in Washington DC, on October 18, 2025.
The largest private sector bank in Sri Lanka with Group assets of Rs 2.876 trillion, deposits of Rs 2.31 trillion, a loan book of Rs 1.53 trillion and gross income of Rs 275 billion as at 31st December 2024, Commercial Bank was also the biggest private sector lender overall, and the biggest lender to the country’s Small & Medium Enterprise (SME) sector. The Bank continued to be the benchmark private bank in Sri Lanka with the highest market shares among private sector banks in deposits, loans, and total assets, and had the highest market capitalisation, gross income and total capital base.
In selecting the World’s Best Banks for 2024, Global Finance considered factors that ranged from the quantitative objective to the informed subjective. Objective criteria included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Award winners were selected by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.
Founded in 1987, Global Finance has readers in 188 countries, territories and districts, and a circulation of 50,000 that reaches chairpersons, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance is headquartered in New York and has offices in London and Milan.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
-
News6 days agoRepatriation of Iranian naval personnel Sri Lanka’s call: Washington
-
Features6 days agoWinds of Change:Geopolitics at the crossroads of South and Southeast Asia
-
News5 days agoProf. Dunusinghe warns Lanka at serious risk due to ME war
-
Sports4 days agoRoyal start favourites in historic Battle of the Blues
-
Sports3 days agoThe 147th Royal–Thomian and 175 Years of the School by the Sea
-
News3 days agoHistoric address by BASL President at the Supreme Court of India
-
Business7 days agoSeven decades of sartorial excellence: The legacy of Linton Master Tailors in Kandy
-
News4 days agoCEBEU warns of operational disruptions amid uncertainty over CEB restructuring
