Business
ComBank adjudged ‘Best Bank in Sri Lanka’ by Global Finance for 23rd year
The Commercial Bank of Ceylon has once again been recognised as the ‘Best Bank in Sri Lanka’ by the US-based Global Finance magazine, conferring this coveted accolade on the bank for an unprecedented 23rd year.
Global Finance’s ‘World’s Best Banks 2025’ list encompasses financial institutions in nearly 150 countries including 28 in the Asia Pacific region, whose best banks have just been announced by the magazine.
The 2025 edition of Global Finance’s Best Banks in the Asia Pacific region names Commercial Bank alongside leading banks of the calibre of CBA (Australia), China Construction Bank (China), HSBC (Hong Kong), ANZ (New Zealand), DBS (Singapore), SMBC (Japan), State Bank of India (India), City Bank (Bangladesh) and CTBC (Taiwan) which were adjudged the best banks in their respective countries.
“Global banking continues to adapt and evolve, meeting challenges and capitalizing on opportunities with resilience and innovation. AI has quickly taken a pivotal role in the transformation of banking, and its growth promises to reshape the financial sector at an unprecedented pace,” the founder and editorial director of Global Finance Joseph D. Giarraputo said. “Global Finance’s Best Bank Awards honour financial institutions that excel in diversity of offerings, long-term stability, and technological innovation.”
Commercial Bank Managing Director/Chief Executive Officer Sanath Manatunge commented: “The concluded financial year was one of unparalleled milestones and transformative success for Commercial Bank of Ceylon, and is particularly significant in the context of the debt restructuring and other socio political challenges that we had to manage. The Bank also raised Rs 22.54 billion through a remarkably successful rights issue, managed an outstanding debenture issue, demonstrated exceptional financial resilience and market trust, and won 115 international and local awards, while breaking new ground in sustainability, digitisation and initiatives to help SMEs and women entrepreneurs. It is not surprising therefore, that we have once again been crowned the Best Bank in Sri Lanka.”
Global Finance’s Best Banks are to be honoured at an awards ceremony to be held during the IMF/World Bank annual meetings in Washington DC, on October 18, 2025.
The largest private sector bank in Sri Lanka with Group assets of Rs 2.876 trillion, deposits of Rs 2.31 trillion, a loan book of Rs 1.53 trillion and gross income of Rs 275 billion as at 31st December 2024, Commercial Bank was also the biggest private sector lender overall, and the biggest lender to the country’s Small & Medium Enterprise (SME) sector. The Bank continued to be the benchmark private bank in Sri Lanka with the highest market shares among private sector banks in deposits, loans, and total assets, and had the highest market capitalisation, gross income and total capital base.
In selecting the World’s Best Banks for 2024, Global Finance considered factors that ranged from the quantitative objective to the informed subjective. Objective criteria included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Award winners were selected by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.
Founded in 1987, Global Finance has readers in 188 countries, territories and districts, and a circulation of 50,000 that reaches chairpersons, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance is headquartered in New York and has offices in London and Milan.
Business
AAC looks towards a future of vertical mobility in Sri Lanka
The Automobile Association of Ceylon (AAC) is looking beyond the traditional boundaries of mobility and road safety toward the future of mobility through sustainable developments in vertical mobility applications under the global guidance of the Fédération Internationale de l’Automobile (FIA).
AAC President Mr. Dhammika Attygalle believes AAC has the potential to contribute sustainable and proven systems, regulatory understanding, and international mobility frameworks toward developing Sri Lanka’s future mobility landscape while supporting the country’s broader economic development.
Representing Sri Lanka at the recent FIA Regional Drone and Vertical Mobility initiative held in Nepal was AAC Executive Committee Board Member Indula Sumithraarachchi, who participated alongside regional delegates and international mobility experts discussing the applications of vertical mobility systems and evolving regulatory frameworks covering mobility integration, safety, aviation and legal regulations.
“As mobility technologies evolve globally, we see vertical mobility as a natural extension of future mobility ecosystems. We believe vertical mobility is connected to sustainable areas not limited to future urban mobility, transport and logistics, infrastructure integration, safety frameworks, disaster and emergency response, and environmental efficiency,” he stated.
Drones are already being commercially utilized in Sri Lanka for dronegraphy (photography and videography using drones), agriculture, surveying and mapping, events, and marketing. However, it is important that greater attention is given toward safety standards, operational protocols, and aviation regulations, licensing, approvals and career professionalism as drone pilots within Sri Lanka in order to make these technologies safer and more accessible to the public.
International mobility experts increasingly recognize drones as part of a wider vertical mobility ecosystem operating alongside aviation and respective local regulatory frameworks. Experts explain that drone systems are helping countries establish regulatory structures, safety standards, technical expertise, aerial management systems, and operational frameworks that may eventually support broader future mobility technologies.
For AAC, the relationship between drones and vertical mobility represents a wider future mobility framework involving how people, services, safety, infrastructure, information, and transport systems may operate in more connected, intelligent, and efficient ways beyond conventional road-based transportation.
For decades, AAC has played an important role in Sri Lanka’s mobility sector through road safety advocacy, motoring assistance, tourism support services, driver awareness initiatives, and public mobility education. The association has continuously contributed toward improving safe mobility practices for Sri Lankan road users and motorists.
AAC now aims to position Sri Lanka within these evolving international mobility conversations while ensuring that future mobility development remains safe, responsible, and aligned with international standards.
The association also believes collaboration between regulators, aviation authorities, educational institutions, private sector innovators, and international mobility organizations will become increasingly important as future mobility ecosystems continue to develop globally.
Through FIA-supported international engagement and regional collaboration, AAC hopes to contribute toward building awareness and understanding of future mobility opportunities while ensuring Sri Lanka remains connected to emerging global transportation developments.
As mobility increasingly moves toward smarter, interconnected, and technology-driven systems worldwide, AAC’s initiatives into vertical mobility reflect its broader vision of supporting safe, progressive, and future-ready mobility solutions for Sri Lanka and future generations.
Business
Vietjet Air announces Colombo – Ho Chi Minh City route
Vietjet Air, Vietnamese new-age hybrid airline, has announced its first direct service connecting Colombo to Ho Chi Minh City at the Sri Lanka – Vietnam Trade, Investment and Tourism Cooperation Forum. The announcement took place in the presence of General Secretary and President of Vietnam To Lam, Prime Minister of Sri Lanka Harini Amarasuriya, and senior officials from both countries.
This is the airline’s first direct service between Sri Lanka and Vietnam, supporting the airline’s international expansion while contributing to stronger economic, trade, tourism, and people-to-people ties between the two nations.
The Colombo – Ho Chi Minh City route is expected to commence in August 2026 with four round-trip flights per week. Travelers from Colombo will soon enjoy affordable fares and seamless connectivity to Vietnam’s leading tourism and business hubs, along with convenient access through Vietjet’s extensive international flight network to major destinations across the Asia-Pacific region, including Australia, Japan, South Korea, China, and beyond.
Business
SDB bank and Hayleys Mobility forge strategic partnership to advance sustainable mobility and private vehicle leasing
SDB bank has entered into a strategic partnership with Hayleys Mobility Limited through the signing of a Memorandum of Understanding, reinforcing the bank’s commitment to expanding access to structured mobility financing while advancing its broader sustainability banking agenda. The collaboration brings together two established institutions to support customers seeking leasing solutions for private vehicles, with a notable emphasis on electric vehicles as part of a more future-focused approach to transportation.
The MoU was signed recently at the Hayleys Mobility office in Union Place, in the presence of senior representatives from both organizations. Representing SDB bank Kapila Ariyaratne, Executive Director and Chief Executive Officer, Manoj Akmeemana, Deputy Chief Executive Officer, Chitral De Silva, Chief Business Officer, Lahiru Ekanayake, Head of Leasing and Tharanga De Silva Chief Manager, Business Banking were participated. Hayleys Mobility Limited was represented by Managing Director Hasith Prematillake, Director Roshani Dharmaratne, Mr. Panduka Rathnayake – General Manager Finance, and Mr. Suraj Chularathne – Assistant General Manager.
The partnership is designed to expand access to private and sustainable leasing solutions across Sri Lanka, while also responding to growing interest in cleaner and more responsible mobility choices. By placing special focus on electric vehicle leasing, the initiative reflects SDB bank’s recognition of changing customer preferences and the importance of supporting more sustainable transport options through accessible financing.
In addition to supporting conventional private vehicle financing, the collaboration enables customers to benefit from a more integrated experience that brings together vehicle selection and financing under a single proposition. Through the combined reach of SDB bank and Hayleys Mobility, the partnership is expected to improve accessibility and convenience for customers across the country, including professionals, self-employed individuals, business owners and other private vehicle buyers looking for reliable, structured leasing solutions.
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