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FinanceAsia crowns ComBank as Best Bank in Sri Lanka for 12th year

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Commercial Bank’s Deputy General Manager Treasury Asela Wijesiriwardane receives the award on behalf of the Bank

The Commercial Bank of Ceylon has been adjudged the Best Bank among Sri Lanka’s domestic banks by FinanceAsia, considered the world’s foremost information source on the Asian financial markets.This prestigious accolade was conferred on Commercial Bank at the 27th FinanceAsia Country Awards gala at the Ritz Carlton in Hong Kong on 28th June. Notably, Commercial Bank was the first Sri Lankan bank to be honoured at these awards and has won the Best Bank award 12 times.

Other Country Award winners ranked alongside Commercial Bank as the Best Banks in their respective countries at this year’s FinanceAsia awards were CICC (China), HSBC (Hong Kong and South Korea), CTBC (Taiwan), and Allied Bank (Pakistan).

Commenting on the Bank’s consistent success in the FinanceAsia Country Awards, Commercial Bank Managing Director /CEO Sanath Manatunge said: “Sector-leading financial performance is, of course, fundamental to the Best Bank award, but what makes this award particularly significant is that it looks beyond the figures to assess factors like strategy, customer service, business development, ESG compliance and customer centricity. Winners are therefore institutions that did not compromise on quality to improve financial performance.”

Assessments for the FinanceAsia Best Domestic Bank awards covered the performances of banks in 2022, a period the magazine said was impacted by supply chain woes, energy disruptions, geopolitical tensions, interest rate hikes and uncertainty.

“The FinanceAsia team invited banks, brokers and ratings agencies to showcase their capabilities to support their clients as they navigated these uncertain economic times. Our awards process celebrates those institutions that showed determination to deliver desirable outcomes, through display of commercial and technical acumen,” FinanceAsia said.

Among the factors that contributed to Commercial Bank’s victory was its achievement of the highest asset base, highest deposit base, largest lending portfolio, highest net profit, and highest gross income among private sector banks in Sri Lanka in the year assessed, as well as its recording the best CASA ratio among all banks in the country, and its position as the bank with the highest market capitalization on the Colombo Stock Exchange (CSE).

The Bank was also recognised for its market position in terms of having the highest market share of deposits, loans and total assets among private sector banks, the Bank’s sustainability initiatives in 2022, deployment of technological innovations for customer convenience, its support to small and medium enterprises (SMEs) via lending and knowledge base building, and its efforts to advance its vision and strategy.First published in 1996, FinanceAsia provides readers with the latest financial trends, interviews, features and investigative reports.



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Ogilvy Group tops award tally at Dragons of Sri Lanka 2026

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The Ogilvy team with the Gold and Silver awards at the Dragons of Sri Lanka 2026

Nine awards, including two Golds, across disciplines recognise business-driven creativity

Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies, a company news release said.

Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.

Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.

Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.

Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”

The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.

Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”

The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.

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Musical tribute to Fr. Marcelline Jayakody held in California

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Rev. Fr. Rashmi M. Fernando with the performers at the event

A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.

Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.

Shalika Perera singing at the event

The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.

The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.

Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.

The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.

Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”

The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.

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Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala

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Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.

The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.

The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.

The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.

Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.

Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited

Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.

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