Business
ComBank adjudged ‘Best Trade Finance Bank in Sri Lanka’ by Asian Banker for 3rd consecutive year
The Commercial Bank of Ceylon was declared the ‘Best Trade Finance Bank in Sri Lanka’ for the third year in a row at the 2020 Asian Banker Transaction Awards recently, in recognition of its achievements in cash management, payments, and trade finance.
This prestigious accolade was conferred on Commercial Bank following a thorough evaluation by the magazine with an audit-based approach. The rigorous selection process took place over several months and involved feedback and interviews with all constituents in a position to comment on the candidates. It was anchored by a panel of global leaders and subject matter experts as advisors.
A survey of domestic institutions that use Commercial Bank’s trade finance services, corroborated by interviews and an evaluation of changes in the market share of competitors, the size and strategic importance of the transaction business as a percentage of the Bank’s business, the contribution of the transaction business to total income, the growing annuity value of the business, core and recurrent customer base and the benefits of processing efficiencies and cost management that are passed on to the Bank’s clients were among the determining factors that led to the Bank winning this award.
Asian Banker also looked at the unique features of the Bank’s fee-based products and services that are not dependent on credit as the primary relationship and the value they provide to clients, and the key achievements of the Bank in the year under review before bestowing the ‘Best Trade Finance Bank in Sri Lanka’ title on Commercial Bank.
Some of the products and services offered by Commercial Bank that contributed towards winning this prestigious award include the online Sri Lanka Ports Authority Payment Gateway, the ‘Biz Club’ for SME clients engaged in trade, door-to-door delivery of Letters of Credit, import documents and guarantees, financing of offshore business operations of local companies, and organisation of awareness programmes for trade-related clients. Other innovative product offerings introduced in the year to support trade finance operations were provision of foreign exchange market and economic updates, simplifying and providing online exchange rates on trade deals, and expediting the credit evaluation and approvals process by setting up a separate unit.
The winners for the ‘Best Trade Finance Bank’ awards are determined through a combination of surveys, interviews, and field research by The Asian Banker’s research staff assessing over 200 submissions from financial institutions across the Asia Pacific, Middle East, and Africa. The findings of the research are published in a neutral manner, with a scorecard outlining how the different domestic and global players feature in them.
Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.
His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.
He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.
The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.
Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.
Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.
Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.
Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.
In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.
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