Business
ComBank named ‘Most Sustainable Bank in Bangladesh’
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.
Business
Cross-border supply chains seen as key to new business opportunities
By Ifham Nizam
Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.
The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.
Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.
‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.
His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.
The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.
Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.
The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.
The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.
But the investment also has a distinctly local agricultural dimension.
Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.
That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.
Duckworth said this type of business partnership could generate benefits for both countries.
‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.
‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.
The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.
For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.
Business
Ideal Motors makes history with multiple workplace excellence accolades
HR-led transformation places people, culture and business performance at the heart of the organisation
Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.
Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.
The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.
At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.
These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.
Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.
Business
AAC takes seat belt safety message to Colombo motorists
The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.
AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.
The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.
AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.
The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.
-
News6 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News4 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
News5 days agoBid for Basil’s extradition nears final stage: Police
-
Business6 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
News3 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Opinion6 days agoA journalist who wrote across the divide
-
Editorial7 days agoMore fuel price shocks shrouded in secrecy
-
Features3 days agoWhy the spelling Sri Lankan names in English vary
