Bank of Ceylon celebrates 85 years of innovation and inclusion in banking

BOC Chairman Kavan Ratnayaka 

BOC General Manager W.P. Russell Fonseka  

The Bank of Ceylon yesterday celebrated its 85th anniversary at a ceremony held at its head office in Colombo 1.

The ceremony began with special religious sermons, invoking blessings on the staff and on all customers of the bank. The event was held with the patronage of the bank’s Chairman Kavan Ratnayaka and General Manager/CEO Russel Fonseka. Members of the bank’s Board of Directors, corporate and executive management, staff members, customers and well-wishers were gathered at the head office to celebrate the event. Similarly the bank’s branch network too celebrated the anniversary along with their loyal customers and well-wishers. 

The establishment of the Bank of Ceylon and its opening on 1 August 1939 for business by British Governor Sir Andrew Caldecott led to an ordinary person or business could open an account and use cheques in transacting. Since its inception, BOC has stood as a pillar of strength for Sri Lankans, transforming the banking experience for millions. From empowering ordinary citizens with access to financial services to pioneering digital banking solutions, BOC’s journey has been nothing short of remarkable.

Today it is a thoroughly modern bank with technology forming the backbone of its operating infrastructure. Due to our contributions to the banking sector and commitment to delivering exceptional experiences to our valued customers this year, BOC’s dedication to digital excellence was recognised at the Technnovation Awards 2024, where it clinched the coveted ‘Overall Award – Gold for Excellence in Digital Payments.’ Additionally, the bank secured Gold awards for ‘Bank of the Year for Financial Inclusivity’ and ‘Best Common ATM Enabler of the Year,’ among others. These accolades serve as further proof of why we are Sri Lanka’s premier financial institution.

In a year filled with challenges, BOC was also honoured as ‘The Bank of the Year – Sri Lanka’ by the prestigious Banker magazine, reinforcing its position as a resilient and trusted financial partner. Notably, BOC remains the only Sri Lankan bank listed among the Top 1,000 Banks in the world once again in the year 2024, showcasing its sustained growth and customer confidence.

One of the standout initiatives during the 85th year is the successful conclusion of the ‘Pita Pita Rata Thegi’ program, designed to reward Sri Lankan expatriates for securely remitting their hard-earned foreign currency. The grand prize a luxurious, fully furnished house valued at Rs. 30 million was presented to the lucky winner, recently.

As BOC celebrates 85 years, it looks back with pride and forward with determination to serve this country and its people. BOC’s journey has always been about beyond banking with empowering people and driving national development which will continue to innovate and expand its services to ensure that every Sri Lankan has the opportunity to thrive.

As part of its 85th anniversary celebration, the Bank of Ceylon is proud to announce the achievement of a significant milestone of achieving 10,000 youth loans.

 This accomplishment underscores BOC’s dedication to fostering young entrepreneurs, demonstrating its steadfast commitment to empowering the next generation of leaders with a future focused vision. In this new year it is entering into, the Bank of Ceylon is set to embrace new and emerging technologies and deepen its commitment to financial literacy, sustainability, and community development. 

In celebration of its 85th anniversary, the BOC launched several new products. BOC Smart Freelancer Savings Scheme: This specialised savings plan is crafted for freelancers and online entrepreneurs. It simplifies the management of foreign currency earnings from platforms like Fiverr and Upwork, offering a seamless banking experience tailored to the unique needs of the economy. Travel Medical Privilege Card (Wellglobe Card): Aimed at customers seeking medical treatment in India, this card provides an array of benefits including a free multi-currency travel card, discounts on medical bills, and comprehensive travel assistance. It’s designed to ease the financial and logistical burdens of medical travel, ensuring peace of mind for BOC customers.

“BOC Thilinapath” gift vouchers: It is intended for adults who wish to have a versatile and valuable gifting option. The vouchers, available in denominations of Rs. 1,000, Rs. 5,000, Rs. 10,000, and Rs. 25,000, are designed to reflect our commitment to adapting to evolving customer preferences. 

“Little Picasso” Art Competition: This engaging contest invites children and teachers to showcase their artistic talents. By promoting creativity and artistic expression, the competition encourages young savers to open children’s savings accounts.

With these new offerings, BOC continues to innovate and support its diverse customer base, reaffirming its commitment to excellence as it marks 85 years of service.

– Pix by Lasantha Kumara