Business
ComBank strengthens its green financing mandate with GGGI partnership
The Commercial Bank of Ceylon has signed a milestone agreement with the Seoul-headquartered Global Green Growth Institute (GGGI), a leading international inter-governmental technical advisor on sustainable finance initiatives.
The Memorandum of Understanding (MoU) ratified by the two entities sets the stage for a sustainable finance collaboration programme, and enhances Commercial Bank’s readiness to mobilise green and blue investment opportunities for Sri Lanka’s private sector.
The Director General of GGGI Dr. Frank Rijsberman signed the MoU on behalf of GGGI, while the Managing Director and CEO of the Commercial Bank Sanath Manatunge signed on behalf of the Bank.
This transformative partnership between Commercial Bank and GGGI holds immense promise for accelerating sustainable finance initiatives in Sri Lanka, paving the way for a greener and more resilient economy for generations to come, the Bank said.
According to the GGGI, Commercial Bank continues to show its comitment to expanding its green portfolio through the exploration of thematic bond issuances. Through this partnership, the Bank will gain GGGI’s international technical expertise and support for the creation of a thematic bond framework and strengthen its institutional capacity.
Sri Lanka became GGGI’s 30th member state in 2019. The Institute has a unique in-country presence and plays a prominent role as a neutral, trusted advisor and strategic development partner embedded in Member and Partner governments. GGGI champions climate action and serves in the role of an enabler and facilitator of Members’ transition into a low-carbon green economy, providing policy advice and technical support in the development of green growth plans, policies and regulations, mobilisation of green investments, implementation of green growth projects, and development of local capacities and knowledge sharing.
Sri Lanka was elected as Vice President of the Assembly and Vice Chair of the Council of GGGI in October 2022, and GGGI has an in-country program with key strategic focus areas that include mainstreaming innovative climate finance tools; building resilience and supporting a national adaptation planning and implementation process; establishing energy-efficient and environmentally friendly transport systems; increasing the uptake of green energy and enhancing energy efficiency through an improved enabling environment and bankable projects, and sustainable landscapes.
One of the first banks in Sri Lanka to venture into green financing, Commercial Bank has been adjudged the winner at the Sri Lanka Sustainability Reporting Awards and is a pioneer in sustainability through its innovative green portfolio, while initiating a mandatory social and environmental screening process for its lending activities.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
Commercial Bank leads nationwide aquatic clean-up drive
Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.
Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.
The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.
Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.
The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.
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