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ComBank named ‘Most Sustainable Bank in Bangladesh’

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Ends 2021 with 3 top awards and retains ‘AAA’ credit rating

Commercial Bank Bangladesh, Commercial Bank of Ceylon’s largest overseas operation, has been adjudged the ‘Most Sustainable Bank in Bangladesh’ at the close of 2021, during which the Bank was named ‘Best Foreign Bank in Bangladesh’ by two independent bodies and retained its ‘AAA’ credit rating.

The ‘Most Sustainable Bank in Bangladesh’ award was presented at the Dubai-based International Business Magazine Awards 2021 that honoured best-in-class achievements of organisations across various spheres related to international business and finance. The title recognises the sustainable and stable growth that Commercial Bank Bangladesh has demonstrated over the years.

In 2021, Commercial Bank Bangladesh was also recognised with top awards by two UK-based institutions – the Global Business Outlook (GBO) magazine and Global Economics Limited, a financial publication that recognises best performers in various financial sectors, worldwide.

Both these publications crowned Commercial Bank Bangladesh the ‘Best Foreign Bank in Bangladesh’ – a title that acknowledges the Bank’s resilience in the face of competition from local and international banks, its service excellence and dedication towards serving customers.

The Bank’s prowess in 2021 was also underlined by its ‘AAA’ (Triple A) credit rating from Credit Rating Information and Services Ltd (CRISL). This was the 11th consecutive year that Commercial Bank Bangladesh was given a ‘AAA’ long term credit rating, which is the highest credit rating given to a financial institution in Bangladesh by CRISL. The latest rating is the outcome of an in-depth analysis of the operational and financial performance of the Bank along with an assessment of relevant quantitative and qualitative factors.

Commenting on the Bangladesh operation’s achievements in 2021, Commercial Bank Managing Director and Group CEO Mr S. Renganathan said: “Despite the pandemic-caused decline in economic activity and other challenges, Commercial Bank Bangladesh has proven its mettle and stayed on the course charted for itself. The accolades and accreditations the Bank has received are affirmations of its stability, consistency in performance and service delivery. We would like to thank our stakeholders and customers in Bangladesh for their support as we celebrate the close of another successful year.”

Commercial Bank entered Bangladesh in July 2003 with the acquisition of the Bangladesh operations of Credit Agricole Indosuez (CAI), its first ever acquisition of a banking operation. The French multi-national bank operated two branches and two booths in Bangladesh at that time. Over the 18 years that followed, the Commercial Bank of Ceylon Bangladesh operation has established itself above other regional banks operating in the country with 11 branches, six SME Centres and two Offshore Banking Units.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. Besides Commercial Bank Bangladesh, the Bank’s overseas operations encompass Myanmar, where it has a Microfinance company in Nay Pyi Taw and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.



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A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy

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Transport Minister Bimal Rathnayake and Indian High Commissioner Santosh Jha at the plaque unveiling ceremony for the Moragahakanda Bridge project, supported by Indian grant assistance.

By Sanath Nanayakkare

An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.

Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.

Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.

Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.

From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.

What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.

Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.

The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:

Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.

Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.

Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.

By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.

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Bring your own bag to book fair, CEA urges

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By Ifham Nizam

The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.

CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.

“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.

The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.

The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.

The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.

The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.

These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.

The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.

The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.

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Japanese investor Yoshimichi Watanabe backs Hunas Holdings

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Yoshimichi Watanabe / Tanaka - Director Hunas Holdings PLC

Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector

Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.

The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.

Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa

For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.

Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.

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