Business
ComBank, one of 10 ‘Most Admired Companies’ in Sri Lanka for 4th consecutive year
The Commercial Bank of Ceylon has once again been included among the 10 ‘Most Admired Companies in Sri Lanka’ in the annual list compiled by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA).
This is the fourth consecutive year that Sri Lanka’s biggest private sector bank has been ranked among the top 10 companies in this list, which was launched in 2018.
Commenting on this prestigious accolade, Commercial Bank Managing Director S. Renganathan said: “The past year has been adverse for companies in general, but we believe it is how we have responded to the challenges of the pandemic and its impacts on our customers, that has earned us the admiration of the people. Our performance was achieved with an extremely balanced approach that considered the interests of all stakeholder groups, with an emphasis on those most vulnerable.”
Open to both listed and unlisted companies, the ICCSL-CIMA Most Admired Company Awards recognise entities that are a cut above the rest in terms of not just their financial performance but also the value they create for their shareholders, customers, employees, and the wider community in general. Commercial Bank was recognised as a company that inspires other organisations and entrepreneurs by proving its mettle with consistency, authority and sustainable growth, creating excellent business performance.
Ranked Sri Lanka’s Strongest Bank Brand in 2021 by Brand Finance, Commercial Bank of Ceylon ended 2020 with total assets of Rs 1.763 trillion, gross income of Rs 151.966 billion, net profit of Rs 16.373 billion, a deposits base of Rs 1.287 trillion and a loan book of Rs 961.859 billion. In the second quarter of 2021, the Bank had the distinction of becoming the first private bank in the country to have three key balance sheet indicators exceeding Rs 1 trillion, with total assets of Rs 1.935 trillion, total deposits of Rs 1.4 trillion and a loan book of Rs 1.034 trillion as at 30th June 2020.
One of the highlights of the Bank’s performance in 2020 was the confirmation by the Ministry of Finance that it was the biggest lender to Sri Lanka’s SME sector among all state-owned, private and specialised banks in the country, accounting for more than a fifth of all loans in terms of value and number. Commercial Bank lent Rs 163.98 billion or 21.57% of the Rs 759.7 billion in loans provided to SMEs by 19 institutions, while the 58,584 loans provided by the Bank represented 23.82% of the total of 245,883 loans granted in the pandemic-impacted year.
Commercial Bank was also the leader in providing financial relief, especially to SMEs, under the Government stimulus package during the first wave of the pandemic in 2020.
Another noteworthy recent milestone was the Bank’s achievement of carbon-neutral status, becoming the first Bank in Sri Lanka to have completely balance its environmental footprint.
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 931 automated machines in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; 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
‘Green Chilies’ returns after seven years to reignite Sri Lanka’s advertising industry spirit
After a seven-year hiatus, one of Sri Lanka’s most loved advertising industry gatherings is making a much-anticipated return. Green Chilies 2026, the iconic festival that once defined the fun, camaraderie and creative spirit of Sri Lanka’s advertising fraternity, returns on 4th June 2026 at Rise Up, Colombo 03, bringing together professionals from across agencies, media, digital, production and marketing for an evening of celebration, entertainment, and industry camaraderie.
Originally launched in 2011, Green Chilies was conceived as a platform to celebrate Sri Lanka’s Young Lions winners as they embarked on their journey to represent the country at the prestigious Cannes Lions International Festival of Creativity, while also creating a unique opportunity for the industry to come together outside boardrooms and deadlines.
This year’s revival comes at an especially meaningful time, as an entire new generation of industry professionals have entered the business without ever experiencing the culture and energy that made Green Chilies such a defining event. Some key highlights will be the recognition of the winners of the young Lions competition and the much-loved return of The Agency Idol, the wildly entertaining competition where agencies battle it out on stage in a spirited showcase of talent, humour, and creativity, bringing back one of the event’s most iconic traditions.
Speaking about the return of the festival, Ranil de Silva, Founder of Green Chilies and of Metal Factor, said: “When we first launched Green Chilies, the idea was simple. It was to celebrate our Young Lions and create something that brought the industry together as one community. Over the years it became far more than an event, it became part of our industry culture. Seeing it return after seven years is very special, particularly because so many young professionals will now get to experience the spirit that made this industry such a fun and inspiring place to be.”
Green Chilies 2026 is organized by Metal Factor and supported by the 4A’s Sri Lanka.
Event Details:
Venue: Rise Up, Alwis Place, Colombo 03
Date: Thursday, 4th June 2026
Time: From 6.30 PM onwards
Contact : Shelley +94 77 342 3123
Business
JKH posts 75% EBITDA growth to Rs.80.01 billion as recent investments begin to contribute
John Keells Holdings PLC (JKH) reported a strong financial performance for FY2025/26, with Group EBITDA increasing 75% to Rs.80.01 billion, reflecting the contribution of investments made over the past several years and the continued performance of the Group’s established businesses.
Group recurring EBITDA increased 71% to Rs.78.05 billion, compared to Rs.45.69 billion in the previous year, driven primarily by Retail, Transportation and Leisure. Recurring profit before tax rose 143% to Rs.35.72 billion, while recurring profit attributable to equity holders of the parent increased 155% to Rs.13.24 billion.
The year also marked the culmination of the largest investment phase in the Group’s history, with the operationalisation of key investments signalling a shift in the capital cycle from development to contribution. Overall funding requirements reduced materially in line with expectations, while net debt to EBITDA stood at approximately 2 times and net debt to equity at approximately 31%.
City of Dreams Sri Lanka recorded positive EBITDA for the full year, following the completion and launch of the remaining components of the integrated resort. Cinnamon Life’s conference and event spaces attracted interest from local and international organisers, while casino operations showed an encouraging pick-up from the fourth quarter onwards.
Colombo West International Terminal, the project company of WCT-1, recorded strong throughput growth during the year, supported by an improving volume mix. The business delivered a positive profit after tax ahead of expectations, despite recognising depreciation relating to phase 1, and has reached full utilisation of phase 1 capacity based on its latest monthly run-rate.
John Keells CG Auto recorded an exceptional year, supported in part by pent-up demand and the brand positioning and vehicle range of BYD.
The Supermarket business recorded approximately 14% growth in same store sales, driven primarily by a 14.3% increase in footfall. The Beverages and Confectionery businesses recorded strong volume growth, with Beverages benefiting from higher margins, while Confectionery margins were impacted by higher raw material costs and expenses linked to new product introductions.
Business
RCSS receives Chatham House Senior Research Fellow for discussion on South Asian Regionalism
Dr. Chietigj Bajpaee, Senior Research Fellow for South Asia, Asia-Pacific Programme at Chatham House, visited the Regional Centre for Strategic Studies on 26 May 2026 and met with the ED/RCSS, Ambassador (Retd.) Ravinatha Aryasinha, and researchers at the Centre. The discussion focused on Regionalism in South Asia and evolving geopolitical developments in the region.
Ambassador Aryasinha detailed the recent and ongoing initiatives undertaken by the RCSS and its wide Alumni Network spread throughout the region in strengthening South Asian solidarity. Dr. Bajpaee impressed on the need to consider alternative forms of regional cooperation in South Asia given the absence of India–Pakistan normalization, resulting in the stagnation of SAARC and the growing pull towards external regional frameworks such as the Regional Comprehensive Economic Partnership (RCEP). The two parties explored possibilities beyond state-led regionalism, including stronger networks among civil society, think tanks, diaspora groups, and business communities, as well as thematic “mini-lateral” cooperation on issues such as climate adaptation and maritime governance.
Ms. Chamika Wijesuriya, Ms. Thedini Herath, and Shayan Peris, Research/Programme Officers at RCSS, were associated with the discussion.
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