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ComBank’s Bangladesh operation wins 4 top awards at ICC Emerging Asia Banking Awards

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Commercial Bank’s Assistant General Manager Corporate Banking B. A. H. S. Preena accepts one of the four awards won by the Bank’s Bangladesh operation.

The Commercial Bank of Ceylon has been honoured with four prestigious awards for its Bangladesh operations by the Indian Chamber of Commerce (ICC), at the Emerging Asia Banking Awards 2024.

Commercial Bank of Ceylon PLC – Bangladesh operations was adjudged the Best Foreign Bank in Bangladesh, and received the awards for Best Performance of Growth, Best Performance in Asset Quality and Best Performance in Risk Management among foreign banks operating in Bangladesh.

These awards are based on an analysis of key performance indicators in areas such as profitability, efficiency, management and sustainability, including a comparison of growth achieved in assets, advances, deposits, investments, interest income and profits, as well as figures for non-performing assets, capital adequacy ratios, green loans and CSR expenditure.

The Emerging Asia Banking Conclave and Awards ceremony took place in New Delhi and was themed ‘Leading in the Digital Paradigm.’

Congratulating the Commercial Bank Bangladesh team on its achievements at the ICC Emerging Asia Banking Awards, Commercial Bank Managing Director/CEO Sanath Manatunge said: “Our Bangladesh operation has been a source of pride and inspiration virtually from its inception, and is now an important contributor to Group performance. These awards are an excellent tribute to the professionalism and commitment of our team in Bangladesh.”

The CEO of Commercial Bank’s Bangladesh operations Najith Meewanage added: “These awards are a great source of encouragement to every member of our staff across our 20 outlets, because they demonstrate what can be achieved through dedication and hard work, even in times of challenge. We are elated, in particular, to be declared the best foreign bank in Bangladesh, in addition to winning the best performance awards in three categories.”

Notably, Commercial Bank’s Bangladesh operations received a ‘AAA’ (Triple A) Long Term credit rating from Credit Rating Information and Services Ltd (CRISL) for 2024. This was the 14th consecutive year that Commercial Bank Bangladesh received the highest credit rating given to a financial institution in Bangladesh.

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 21 years that followed, the Commercial Bank of Ceylon Bangladesh operation has established itself above other regional banks operating in the country with 20 outlets, comprising of eight branches in Dhaka, (Motijjheel, Gulshan, Dhanmondi, Uttara, Pantopath, Mirpur, Tejgaon), one each in Chattogram, Sylhet and Narayanganj, two specialised Off-shore Banking Units in Dhaka (Gulshan and Chattogram – CEPZ) and six SME Centres in Old Dhaka (Dhaka), Progati Sarani (Dhaka), Shantinagar (Dhaka), Tongi (Dhaka), Jubilee Road (Chattogram) and CDA Avenue (Chattogram) and a booth in the US embassy.



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Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe

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The Lakvijaya power plant in Norochcholai.

By Ifham Nizam

A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.

The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.

The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.

The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.

One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.

A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.

A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.

The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.

That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.

Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.

The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.

The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.

When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.

The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.

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Sri Lanka Food Processors Association holds 29th Annual General Meeting

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The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.

At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.

President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.

1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.

2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.

Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.

Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.

Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.

Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:

Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited

Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.

Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.

Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.

Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.

Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC

The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.

The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.

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Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black

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New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel

Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.

The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.

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