Commercial Bank rated most respected bank in Sri Lanka for 10th consecutive year

Wednesday, 13 August 2014 00:00 - - {{hitsCtrl.values.hits}}

Overall, second most respected entity in Sri Lanka for 4th year in a row

The Commercial Bank of Ceylon has been rated as the most respected bank in Sri Lanka for the 10th consecutive year and the second ‘Most Respected’ corporate entity in the country for the fourth consecutive year in the annual LMD rankings. Additionally, the bank was ranked No 1 in Sri Lanka for ‘Honesty’ for the second successive year, topping the category that is most important to businesses in the financial services sector.

Commercial Bank is the only bank among the Top 5 Most Respected entities in Sri Lanka, and is ranked among the Top 3 in several other key aspects such as Financial Performance, Quality Consciousness, Management Profile, CSR and Vision. The bank has been the Most Respected bank in the list since its inception in 2005. The 2014 and tenth edition of this prestigious list of Sri Lanka’s most respected companies includes the most diversified conglomerates in the country and some of the world’s best-known multinationals. “For an entity whose business is dependent on public trust, confidence and respect, being ranked second among the top corporates in Sri Lanka is an important endorsement,” Commercial Bank Managing Director/CEO Jegan Durairatnam said. “The opinions of the business leaders and others who participate in the LMD survey reflect the emphasis the bank places on integrity, performance, best practices and commitment to the community.” The LMD rankings are based on the opinions of the general public. Respondents include senior executives from the state and private sectors and their views are obtained under 10 areas of evaluation: Financial Performance, Quality Consciousness, Management Profile, Honesty, Innovation, Dynamism, Corporate Culture, CSR, Vision and Nation-mindedness. In eight of these 10 areas, the bank was placed within the top five in the 2014 survey. The only Sri Lankan bank to be ranked among the world’s top 1000 banks for four successive years, Commercial Bank operates a network of 237 computer-linked service points and the country’s single largest ATM network of 599 terminals. Ranked the most valuable private sector brand in the country in 2014, the bank has been adjudged ‘Best Bank in Sri Lanka’ for 16 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best Bank from ‘The Banker’, ‘Finance Asia’, ‘Euromoney’ and ‘Trade Finance’ magazines.