Commercial Bank named Sri Lanka’s best bank by Global Finance, USA
Wednesday, 26 March 2014 00:55
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The Commercial Bank of Ceylon has been rated the best bank in Sri Lanka by Global Finance, one of the world’s leading publications serving the international business community.
This benchmark ranking published annually by Global Finance for 21 years, names Commercial Bank among the best emerging markets banks in 30 countries in the Asia Pacific region in 2014, reaffirming the bank’s consistent country-leading performance.
Ranked alongside Commercial Bank as the best banks in 2014 in their respective countries are China Merchants Bank (China), HDFC Bank (India), Shinhan Financial Group (South Korea), Public Bank (Malaysia), Standard Chartered Bank (Nepal), Siam Commercial Bank (Thailand) and Bank Central Asia (Indonesia).
Criteria for choosing the winners included growth in assets, profitability, strategic relationships, customer service, competitive pricing, and innovative products. In addition, for the first time, a poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results. “In the financial services sector in particular, consistency of performance is of paramount importance,” Commercial Bank’s Managing Director/CEO Ravi Dias said. “In that respect, the Global Finance ranking is an important independent affirmation that the bank has maintained its position for many years. This is an accolade for which the entire Commercial Bank team can take the credit.”
Global Finance publisher and Editorial Director Joseph D. Giarraputo said: “Faced with slowing growth and volatile markets, these banks are star performers under increasingly challenging conditions. The banks that Global Finance is honouring may not be the largest or oldest, but they are the best at targeting their products and offerings to the specific markets they serve.”
The Global Finance exclusive Best Banks survey is to be published in the magazine’s May 2014 issue. The World’s Best Banks 2014 Awards Ceremony will be held at the same time as the IMF/World Bank Annual Meetings, on the morning of Saturday, 11 October, 2014, at The National Press Club in Washington, DC.
Founded in 1987, Global Finance has a circulation of more than 50,000 and is read in 163 countries. The magazine’s audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management.
Commercial Bank is the largest private bank in Sri Lanka, and the only Sri Lankan bank to be listed three years consecutively in the world’s Top 1,000 Banks. It operates a network of 235 branches in Sri Lanka and a network of 585 ATMs, the largest ATM network operated by a single bank in the island. The bank has also won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.
