BOC one of top 500 ‘Strongest and Largest Banks’ in Asia Pacific region for 2018



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The Bank’s CEO/ General Manager Senarath Bandara holding the plaque awarded by the "Asian Banker" for the top 500 Banks in the Asia- Pacific Region. BOC’s CFO/ Deputy General Manager Corporate and Offshore Russell Fonseka (Right) and Deputy General Manager Finance and Planning RMDV Jayabahu (Left) are also in the picture.


Based on the strength of the Bank’s balance sheet, the Asian Banker Magazine has named the Bank of Ceylon as the country’s strongest and the largest bank and to be among the 500 largest and Strongest Banks in the Asia Pacific region. The Asian Banker 500 ranking is the most comprehensive annual evaluation that captures the quality and sustainability of the balance sheets of the banks in the region.


All data are sourced from Central Banks and miscellaneous publications or via informed estimates. The evaluation was based on the balance sheet growth, scale of operations, risk profile, profitability, asset quality and liquidity for the stipulated year. The announcement was made at CIBOS- the SWIFT global payment provider, ceremony held in Sydney Australia. The list of 500 strongest banks in the Asia Pacific region named by the "Asian Banker" is topped by Bank of China (Hong Kong) and includes International Banking Giants in the industry such as Hang Seng Bank, HSBC, OCBC Bank, Citi Bank (Hong Kong), Commonwealth Bank of Australia, ANZ Bank of New Zealand and many others.


With this latest ranking BOC has set an unparalleled benchmark in the Sri Lankan banking industry as the Strongest and Largest Bank in the country, which stands along with other banking giants in the Asia Pacific region. This title was once given for the Bank of Ceylon in 2015 also by the Asian Banker. ‘And we are proud not only on part of the bank but also on part of the country’s economic profile for uplifting the Sri Lankan banking industry in the international arena. I must say we are further encouraged by this achievement to serve our customers and all our stakeholders with exceptional care and commitment to enrich their achievements" the CEO/General Manager Senarath Bandara stated. Over years the Bank has increased its overall balance sheet strength with strong improvements in profitability, capitalization and liquidity. Owning the highest asset base in the country, BOC closed the year 2017 on an exceptionally high note on the balance sheet.


The Asian Banker has been publishing this annual ranking since 2007 to highlight best performing banks in the Asia-pacific region based on the strength of the balance sheet. "The Bank of Ceylon surpasses Rs.One Trillion in Assets, Rs.One Trillion in Deposit base and Rs.One Trillion in Loans and Advances which counts a triplet of Trillions, in the balance sheet. Throughout its existence the Bank has been one of the major driving forces behind uplifting the country’s economic profile. BOC has been the highest profit earning single Sri Lankan business entity in the country since 2015. As for 2017 the Profit Before Tax (PBT) was Rs. 30.3 Billion which was an unprecedented 22.8% revenue growth from 2016".


(BOC)


 
 
 
 
 
 
 
 
 
 
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