Bank of Ceylon continues to dominate as No. 1 brand for 9th consecutive year

Sri Lanka’s No.1 bank yet again reinstates itself as the No. 1 brand in Sri Lanka for the 9th consecutive year according to the latest Brand Finance Sri Lanka’s records published in ‘Brands Annual’ by Media Services. 

The Sri Lankan partner of Brand Finance UK which is a leading body which has a global network in 17 countries, Brand Finance Lanka revealed BOC brand as the No.1 brand with a value of Rs.40 billion. 

Empowering Sri Lankans to realise their life goals through affordable yet best-in-class banking solutions, in its steadfast journey of over 77 years, the Bank of Ceylon has always gone that extra mile to add value to Sri Lankan banking industry. With the pledge to commit as ‘Bankers to the Nation’ since its inception the bank has been evolving with the needs and lifestyle of the Sri Lankan community to provide the financial assistance they require. 

The first and the only Sri Lankan single business entity to earn PBT of Rs.25.3 billion for 2015 and PBT 31.2billion for 2016, BOC challenged its own record continuing its quest to strive for exceptional performance in all areas of banking. Two very significant achievements of BOC in recent history were the surpassing Rs. 1 trillion in deposits in 2015 and Rs. 1 trillion advances in 2016. The bank’s asset value now exceeds Rs. 1.6trillion and is the highest asset base owned by a single business entity in the country.

“Maintaining our position as the No.1 brand in the country is an achievement like no other. Anyone would agree with me that being the No.1 brand in the country for the ninth consecutive year is an unmatchable achievement. We have done exceptionally well during past years and now we are the only bank that has three trillions in the balance sheet. Our next goal is to enhance the bank’s asset base up to Rs. 2 trillion by 2019 – thiswill surely be another milestone in the Sri Lankan banking industry,” the bank’s ChairmanPresident’s Counsel Ronald C. Perera stated. 

In its steadfast journey brand ‘BOC’ has been able to overcome significant macro and micro environmental changes in the banking and financial industry to establish itself as a superior brand in the country. With the time tested vision as ‘Bankers to the Nation,’ Brand BOC has delivered the best result for its true stakeholders, citizens and the Government of Sri Lanka. 

BOC has earned the trust of Sri Lankans and proudly caters to over 12 million customers today. With its massive financial capacity and adaptable approach that comes with inherent commitment towards country’s social and economic development BOC has enabled banking services successfully to a very diverse base customer base from individuals to businesses and organisations of different geographic and economic strata. 

BOC offers the flexibility and convenience of a whole gamut of banking services under one roof for everyone from newborn to senior citizen and micro entrepreneur to corporate business. In order to cater to this geographically-diverse customer base, the bank has 625 branch network that is spread at every nook and corner and owns the largest ATM/CDM network in Sri Lanka with over 825 machines serving customers 24 hours 365 days. 

BOC was the first Sri Lankan bank to have marked its presence overseas with the opening of ‘BOC London’ in 1949 at the epicentre of international banking at that time. Later BOC spread its foreign branch network to Chennai, Male and Seychelles. Apart from its own foreign branch network BOC maintains foreign correspondent banking network with over 860 foreign banks and exchange houses.

“The bank’s approach to cater to the very dynamic banking needs of its customer base has been the key factor behind BOC brand’s 77-year-long success. Since its inception in 1939, Bank of Ceylon’s motive was the same as promoting social and economic development of the country and its people. As such the bank has been strategically adapting its products and services portfolio with the understanding of future social and economic trends that requires tailor-made banking and financial services. A very recent example was the BOC’s digital transformation that completely changed the bank’s internal processes along with its customer interface and infused synergy to the whole Sri Lankan banking system. Along with the benefits of digital transformation BOC was able to embark on green banking comprehensively for a sustainable growth together with the community,” stated Bank of Ceylon General Manager D.M. Gunasekera.

“We have many on-going environmentally friendly programs that have been there for several years. However with the digital infused transformation the bank introduced green processes, green products and services, strategies and green infrastructure that include IT and physical infrastructure. In the bank’s success story, the staff commitment, dedication and their achievements played a vital role and that has been recognised when Asia’s Best Employer Brand – awardsorganised by Employer Brand Institute endorsed the BOC as one of those classed as a Best Employer Brand for the year 2016. The strength of all these factors contribute to make the ‘BOC’ brand No.1 for theninth consecutive year, which is another benchmark set by the bank,” he added.