Business
ComBank wins Oscar-equivalent ‘Bank of the Year’ award from ‘The Banker’- UK
The Commercial Bank of Ceylon has been crowned Sri Lanka’s ‘Bank of the Year’ by the respected ‘The Banker’ magazine of the UK, the Oscar equivalent of the banking fraternity.This is the 12th occasion that Commercial Bank has won this coveted award which is presented in recognition of the Bank’s ability to deliver returns, gain strategic advantage and serve the market while being regarded as the industry standard for banking excellence.
‘The Bank of the Year’ title is conferred upon financial institutions excelling in growth and performance, strategic initiatives, innovation in technology, new or upgraded products and services, and other noteworthy achievements in the field.
“Being named Bank of the Year 12 times is a remarkable achievement by any standards,” Commercial Bank Managing Director/CEO Sanath Manatunge observed. “Winning this title in respect of 2022 is particularly noteworthy in the context of the conditions that prevailed. Our performance under intense pressure is a tribute to the entire Commercial Bank team, which has delivered consistently, leading to the numerous accolades won this year.”
A banking sector benchmark and the largest private sector bank in Sri Lanka, Commercial Bank’s assets grew 20.51% to Rs 2.390 trillion in the first nine months of 2022, reaffirming its position as one of the strongest banks in the country. The Bank also achieved a gross income of Rs 195.573 billion for the first nine months and Rs 76.056 billion for the third quarter of 2022, reflecting robust growth rates of 62.91% and 89.58% respectively and reported a net profit of Rs 6.283 billion for the period.
Other factors considered for The Banker’s ‘Bank of the Year’ award encompassed Commercial Bank’s strategic initiatives such as enhancing its online banking platform ComBank Digital to better cater to its business user segment, launching social media-based banking with trilingual access, and implementing a new Customer Relationship Management (CRM) Platform, among others.
With these initiatives, the Bank became the largest user of CEFT Transactions in Sri Lanka with over 4.5 million transactions from 1st January to 31st May 2022, while its digital banking retail customer base grew by 89% over 2021, and its digital banking business customer base grew to over 31,500 users within a year of introduction.In terms of innovative technology, the Bank launched an award-winning end-to-end automation solution for its credit card on-boarding process, to improve customer experience and reduce operational costs. Furthermore, to position itself as the bank of choice for women by 2023, it unveiled ‘Anagi Women’s Banking,’ Sri Lanka’s first comprehensive women’s banking initiative that includes both financial as well as non-financial benefits to support the aspirations of women.
The range of new financial and non-financial products and services launched by the Bank under the Anagi Women’s Banking brand in the period assessed for the award included the Anagi Savings Account with a higher interest rate over regular savings, Anagi Business Loans exclusively for female business owners and businesses with female business partners or directors, Anagi Instant Loans for Salaried Women, Anagi Credit and Debit Cards with year round discounts and offers, Anagi Pawning with a lower interest rate and life and general insurance for Anagi account holders.
Commercial Bank also expanded the scope of the “Dirishakthi” Micro Entrepreneurs Loans scheme to benefit not just individual borrowers but all participants in their value chains. The new enhancements saw the introduction of the ‘Dirishakthi Value Chain Development Programme’ and the ‘Dirishakthi Sustainable Entrepreneurship Development Programme’ that together aim to increase the capacity of microentrepreneurs’ production chains by providing both financial and non-financial services to stakeholders across the value chain.
The Banker Magazine provides economic and financial intelligence for the world’s financial sector and has built a reputation for objective and incisive reporting. Since 1926, it has navigated its way through over 90 years of banking coverage from the Wall Street Crash of 1929 to the financial crisis of 2008 with the same reputation for accuracy, authority and integrity. The Banker strives to stimulate and inform, offering an unparalleled outlook with a wide range of news, features, analysis and interviews, and in-depth coverage of all the key issues facing the financial sector.
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 12 years consecutively, Commercial Bank operates a network of 269 branches and 943 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. 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.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
Showers in Western, Sabaragamuwa, Southern and North-western provinces and in Kandy district after 2.00 p.m.
LG polls: Sajith spurns UNP’s March 20 deadline
Ranil rejects Batalanda report wholesale
-
Foreign News2 days agoSearch continues in Dominican Republic for missing student Sudiksha Konanki
-
News5 days agoAlfred Duraiappa’s relative killed in Canada shooting
-
Features4 days agoRichard de Zoysa at 67
-
Editorial6 days agoGhosts refusing to fade away
-
Midweek Review5 days agoRanil in Head-to-Head controversy
-
Features4 days agoSL Navy helping save kidneys
-
Features6 days agoThe Gypsies…one year at a time
-
Latest News3 days agoDebutant Madara, Athapaththu fashion Sri Lanka women’s first T20I win in New Zealand