Commercial Bank awards scholarships and laptops to 50 more undergraduates

The Commercial Bank of Ceylon awarded scholarships to 50 more undergraduates of seven universities, under the Bank’s CSR trust ‘Sarasaviyata Nawa Saviyak’ community initiative, and has increased the value of each scholarship by 20%.

Undergraduates from 16 districts will receive Rs. 30,000 each annually during the four or five years at the university, the Bank also presented them with a laptop at a ceremony graced by the Higher Education Minister S.B. Dissanayake.

The Bank’s sixth scholarships presentation under ‘Sarasaviyata Nawa Saviyak’ was held recently, bringing the total number of scholarships presented to date to 250. University Grants Commission Chairperson Prof. Kshanika Hirimburegama, Chairman and Board of Directors of the Commercial Bank along with the Corporate Management of the Bank also graced the occasion.

Of the latest batch of scholarship recipients, 39 were female. Of the 50 undergraduates, 22 are medical students, nine in management and three in accountancy and finance, while two each are in marketing management and business information systems and the others in many diverse spheres of study.

Speaking at the presentation ceremony Minister S.B. Dissanayake said: “Commercial Bank’s scholarship program fulfils an important social obligation and shows the way to other corporate entities. This service of the Bank to the community is extremely important and has earned the respect of the Government.”

The Minister said the 20,000 or so students who gained university admission each year represent the cream of the Sri Lanka’s future work force, and it is the duty of the Government and nation-minded organisations to provide the students with the opportunities to maximise their potential to play a key role in the growth of the country.

Commercial Bank Chairman Dinesh Weerakkody stressed in his speech, the importance of skills development and mastering new skills to the Government’s program to make Sri Lanka a US$ 100 billion economy by 2016. “Sri Lanka is our country, and Commercial Bank is committed to meeting the challenges of taking the country forward by contributing to the improvement of the knowledge and skills of our future generations,” he said.

Elaborating on the Bank’s commitment to the education sector, Commercial Bank CSR Trust Chairman Lakshman Hulugalle said motivating bright young Sri Lankans to pursue their academic aspirations is in perfect synchrony with the Bank’s brand promise of ‘A better future.’ “We believe that education is a critical element in achieving a better future,” Hulugalle said.

Recipients of the undergraduate scholarship are chosen by the assistance of the University Grants Commission (UGC). Being ineligible for Mahapola or any other scholarship program, the number of attempts made at the GCE A/L examination, the number of school-going children in the family, parental income and the distance between the university and the student’s home are some of the factors that are taken into consideration in identifying recipients.

This year’s beneficiaries were from the districts of Vavuniya, Trincomalee, Badulla, Anuradhapura, Colombo, Galle, Gampaha, Hambantota, Kandy, Kegalle, Kuruneglala, Matara, Nuwara Eliya, Puttalam, Monaragala and Ratnapura.

A student from Kadugannawa Manori Nayana Kanthi said the scholarship she received would significantly lessen the burden on her brother, who currently supports her to follow a degree course in Management at the Rajarata University, “I am motivated even more, and hope to follow a course in human resources management as well,” she said.

Nishanthi Balasingham an undergraduate in management at the University of Jaffna said the Commercial Bank scholarship and the laptop would have a life-changing impact on her studies. “The scholarship will help meet the costs of boarding and food, and I have never had a computer of my own,” she said. “I am now much better equipped to pursue my degree.” Besides its undergraduate scholarships program, the Bank also has a reward scheme for deserving younger students. All holders of the Bank’s Arunalu minors’ accounts who excel at the year five scholarship examinations every year are rewarded with valuable cash prizes.

Under its flagship CSR initiative in the sphere of education, the Bank also has to date donated fully-equipped IT labs to 78 schools and educational institutions, benefiting more than 42,000 students. The schools that receive computer laboratories from the Bank are provided brand new computers with licensed software.

The schools are also provided accessories such as computer tables, printers and chairs. The Bank provides assistance to maintain and upgrade these computer labs when necessary to ensure that the facilities benefit many batches of students.

The largest private bank in Sri Lanka, Commercial Bank is the only Sri Lankan Bank to be listed two years consecutively in the world’s Top 1,000 Banks. The Bank operates a network of 229 service points in Sri Lanka and a network of 560 ATMs.

It is also has been adjudged as ‘Best Bank in Sri Lanka’ for 14 consecutive years by the Global Finance Magazine, and has won multiple awards as the country’s best bank from The Banker, FinanceAsia, Euromoney and Trade Finance magazines.