Business
ComBank Group takes deposits past Rs. 3 Tn. threshold in solid six-month performance
Loan book grows by Rs. 270.4 Bn. in six months to Rs. 2.36 Tn.
Total assets up by Rs. 361 Bn. to Rs 3.74 Tn.
six-month gross income crosses Rs. 200 Bn.
Prepares for impacts of global volatility with prudent impairment provisions
The Commercial Bank of Ceylon Group has reiterated its leadership in financial intermediation, becoming the first private sector banking group in Sri Lanka to cross the Rs. 3 trillion threshold in deposits, a new performance benchmark established in the second quarter of the 2026 financial year, the bank said in a news release covering its first half performance.
The Group’s deposits grew by Rs. 315.13 billion in the six months ending 30th June 2026, at a monthly average of Rs 52.52 billion, to end the first half of the year with deposits of Rs. 3.02 trillion. Over the preceding 12 months, deposits grew by a noteworthy 20.33% at a monthly average of Rs. 42.46 billion.
In the six months reviewed, the Group’s gross loans and advances grew by Rs. 270.43 billion at an average of Rs. 45.07 billion per month, taking the loan book to Rs. 2.36 trillion, underscoring the scale of the Bank’s role in financial intermediation. Lending over the preceding 12 months grew by Rs. 624.48 billion or 36.07% at a monthly average of Rs. 52.04 billion.
Interim financial statements filed with the Colombo Stock Exchange (CSE) report that total assets of the Group grew by 10.68% or Rs. 361 billion since December 2025 to Rs. 3.74 trillion as at 30th June 2026. This reflects an impressive increase of 19.42% or Rs. 608.16 billion over the preceding 12 months.
With taxes on financial services for the six months increasing by 20.38% to Rs. 10.56 billion, the Group reported profit before income tax of Rs. 53.05 billion, reflecting a growth of 13.33%. Income tax for the period under review increased by 12.67% to Rs. 17.63 billion, generating a six-month net profit after tax of Rs. 35.42 billion for the Group, reflecting a bottom-line growth of 13.66%.
“As the impacts of global and regional developments continue to take their toll on businesses and economies, our stakeholders can draw confidence from the resilience underscored by the enduring strength of our core banking operations,” Mr Sharhan Muhseen, Chairman of Commercial Bank commented. “We continue to refine our projections and strategic responses to the evolving challenges while remaining firmly anchored to our strategic vision and steadfast in our commitment to delivering lasting value to our customers, stakeholders and the wider community we serve.”
Mr Sanath Manatunge, Managing Director and CEO of Commercial Bank added: “Our prudential approach of maintaining adequate buffers to cushion the adverse impacts of external factors is evident in our six-month results. This includes an increase in impairment provisioning, noticeably in respect of the second quarter. While our heightened emphasis on risk management is dictated by the volatile global economic landscape, we remain well positioned to support our customers through the turbulence.”
Comprising Sri Lanka’s largest private sector bank and six subsidiaries, the Commercial Bank Group reported gross income of Rs. 209.16 billion for the six months, an increase of 18.28%. Gross income for the second quarter alone grew by 24.04% to Rs. 110.16 billion. Interest income improved by 17.05% to Rs. 171.65 billion for the six months, and by 19.86% to Rs 88.76 billion for the second quarter, primarily due to the growth of the loan book.
Commercial Bank was the first Sri Lankan bank to achieve a market capitalisation exceeding US$ 1 billion. The Bank emerged as the No. 1 ranked Sri Lankan bank in the 2026 edition of the prestigious Top 1000 World Banks ranking published by The Banker magazine, UK. The Bank has the highest capital base among all Sri Lankan banks, and is the largest private sector lender in Sri Lanka. Ranked No. 1 in the Business Today Top 40, Commercial Bank is recognised as the most respected and most-awarded bank in Sri Lanka, is a leader in digital innovation and is the country’s first 100% carbon-neutral bank.
Commercial Bank operates more than 270 strategically-located branches and an extensive network of automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 21 branches in Bangladesh, a majority stake in a fully-fledged Tier I Bank in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully-owned subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
Business
From Mt. Fuji to Sri Pada: Lessons from a father-son climb
by SK Samaranayake
For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.
Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.
“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.
Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.
The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.
Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.
“Reaching the top was an achievement. Returning safely was success,” Gunasena said.
The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.
Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.
He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.
For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.
Business
FLIR, Marlbo promote smarter industrial maintenance
Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.
The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.
Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.
FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.
Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.
The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.
Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.
Business
Lumbini Tea Valley wins intl award for Singharaja Wirytips
Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.
The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.
Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.
Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.
Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.
The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.
-
News5 days agoMissing doctor’s body found in Mahiyanganaya
-
News5 days agoAustralia declines to release Finance Secy Suriyapperuma’s citizenship details
-
News5 days ago22A: BASL suggests CJ recuse himself from hearing petitions
-
News2 days agoEight politicians in drug kingpin probe
-
Editorial6 days agoGovts. drag feet as undergrads age
-
Features4 days agoInsights from Chieftains of Uva: Genealogy of two Kandyan Families – Part II
-
Features4 days agoExport diversification: Missing the wood for the trees – Part I
-
Business2 days agoSri Lanka opens up: A new season of direct connectivity
