Connect with us

Business

ComBank named ‘Most Sustainable Bank in Bangladesh’

Published

on

Ends 2021 with 3 top awards and retains ‘AAA’ credit rating

Commercial Bank Bangladesh, Commercial Bank of Ceylon’s largest overseas operation, has been adjudged the ‘Most Sustainable Bank in Bangladesh’ at the close of 2021, during which the Bank was named ‘Best Foreign Bank in Bangladesh’ by two independent bodies and retained its ‘AAA’ credit rating.

The ‘Most Sustainable Bank in Bangladesh’ award was presented at the Dubai-based International Business Magazine Awards 2021 that honoured best-in-class achievements of organisations across various spheres related to international business and finance. The title recognises the sustainable and stable growth that Commercial Bank Bangladesh has demonstrated over the years.

In 2021, Commercial Bank Bangladesh was also recognised with top awards by two UK-based institutions – the Global Business Outlook (GBO) magazine and Global Economics Limited, a financial publication that recognises best performers in various financial sectors, worldwide.

Both these publications crowned Commercial Bank Bangladesh the ‘Best Foreign Bank in Bangladesh’ – a title that acknowledges the Bank’s resilience in the face of competition from local and international banks, its service excellence and dedication towards serving customers.

The Bank’s prowess in 2021 was also underlined by its ‘AAA’ (Triple A) credit rating from Credit Rating Information and Services Ltd (CRISL). This was the 11th consecutive year that Commercial Bank Bangladesh was given a ‘AAA’ long term credit rating, which is the highest credit rating given to a financial institution in Bangladesh by CRISL. The latest rating is the outcome of an in-depth analysis of the operational and financial performance of the Bank along with an assessment of relevant quantitative and qualitative factors.

Commenting on the Bangladesh operation’s achievements in 2021, Commercial Bank Managing Director and Group CEO Mr S. Renganathan said: “Despite the pandemic-caused decline in economic activity and other challenges, Commercial Bank Bangladesh has proven its mettle and stayed on the course charted for itself. The accolades and accreditations the Bank has received are affirmations of its stability, consistency in performance and service delivery. We would like to thank our stakeholders and customers in Bangladesh for their support as we celebrate the close of another successful year.”

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 18 years that followed, the Commercial Bank of Ceylon Bangladesh operation has established itself above other regional banks operating in the country with 11 branches, six SME Centres and two Offshore Banking Units.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. Besides Commercial Bank Bangladesh, the Bank’s overseas operations encompass Myanmar, where it has a Microfinance company in Nay Pyi Taw and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Wing Commander (Retd.) D. Pradeep S. Kannangara elected president, Industrial Security Foundation

Published

on

The Industrial Security Foundation (ISF) which acts as the sole organization in Sri Lanka to represent the Private Security industry having incorporated by an Act passed in the Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kannangara as its President for the years 2022/2023 at its 30th annual General Meeting which was held at the PIM Auditorium in Borella. Wing Commander Pradeep Kannangara was appointed President while 14 other members were appointed to the Executive Committee, strengthening the ISF in order to drive and uplift the standards of the private security industry in Sri Lanka.

He has served on the ExCo consecutively since 2012 under four different presidents where he held the positions of Senior Vice President during the last three consecutive years. He has also been a committed member of the ISF and was awarded prestigious coveted FISF title due to his many valuable contributions to the organization and the Private Security Industry in Sri Lanka in 2012.

Wing Commander Kannangara’s journey into private security began after a successful career in the Sri Lanka Air Force for over 24 years where he served in many capacities finally being the Officer Commanding of the Special Air Borne Force. A recipient of the Ranasura Padakkama (RSP) Gallantry award for his bravery, sacrifices and service to the nation by the President of the Socialist Republic of Sri Lanka in 1990. He holds a Master’s in business management from the Edith Cowan University, Perth, Australia too and serves as a Board Director in AB Securitas (Private) Limited in Sri Lanka and AB Securitas Bangladesh Limited.

Continue Reading

Business

Kitchen & Bedroom reaffirms its partnership with Häfele Sri Lanka

Published

on

(L-R) Pawan Singh- General Manager Sales & Marketing at Hafele Sri Lanka, Jurgen Wolf- Managing Director Hafele South Asia, Dr. Sacquaff- Group CEO Kitchen & Bedroom, and Manish Mahajan, Director Sales Hafele South Asia

Kitchen & Bedroom, a name synonymous in the interior designing and furniture sector in the country recently celebrated its long-standing partnership with Häfele Sri Lanka during the latter’s 12th year anniversary celebratory event, reaffirming its ambitious plans to further strengthen and explore the numerous opportunities available here.

Häfele Sri Lanka, part of Häfele India which is a wholly owned subsidiary of the Hafele Global network, is a technology partner for various projects and initiatives of Kitchen & Bedroom. Both the companies operate in the interior design space, sharing their cumulative knowledge and expertise to provide extensive and personalized solutions catering to domestic requirements.

‘We take great pride in our association with Häfele Sri Lanka having exchanged and collaborated on many projects both commercial and household. We share similar values such as providing high quality, sustainable, functional and customized solutions to our customers, and most importantly to guide them through every aspect and step of the project and how best we could bring out their desired design,’ said Dr. Sacquaff, Kitchen & Bedroom Group CEO.

Continue Reading

Business

DSI strengthens its islandwide presence with three new showrooms

Published

on

Amid the prevailing economic hardships faced by Sri Lanka, Sri Lanka’s premier footwear brand DSI recently expanded its islandwide presence in the country with the opening of three new showrooms in Kahawatta, Akuressa, and Chavakachcheri, with the aim of offering greater access to its diversified product range to a wider customer base.

Gracing the special occasion, the showrooms were declared open by D. Samson & Sons (Pvt.) Ltd. Managing Director Thusitha Rajapaksa, in the presence of Director Asanka Rajapaksa, General Manager Pradeep Samarathunga, National Sales Manager – Retail Sales Naleen Weerawardana, invitees, and well-wishers.

Speaking at the opening ceremony, Thusitha Rajapaksa stated: “We are excited about expanding DSI wings to three new locations. Despite the ongoing economic conditions of the country, we took a call to take a proactive measure to expand our islandwide presence. While it has been a challenge, the commitment and hard work of our team has made it possible to serve our loyal customers better, and we are confident that we will be able to continue these efforts in the future as well.”

DSI is renowned for its well-trained staff who offer exceptional customer service. The three new DSI showrooms prioritize providing a unique service and customer support to make purchasing further convenient for the customer.

Continue Reading

Trending