Wednesday, 21 August 2013 00:00
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The Commercial Bank of Ceylon has retained its position as the second ‘Most Respected’ corporate entity in Sri Lanka in 2013 in the annual LMD rankings.
Significantly, the bank was ranked top in Sri Lanka for honesty and financial Performance, two of the most important aspects for entities in the financial services sector.
This is the third successive year that Commercial Bank was ranked second in this prestigious list of Sri Lanka’s most respected companies, which includes the most diversified conglomerates and some of the world’s best-known multinationals.
“We are pleased to be ranked among the top corporate groups in Sri Lanka and to be the only bank in the top five,” Commercial Bank Managing Director/CEO Ravi Dias said. “This speaks volumes for the bank’s performance, integrity and stature as well as the confidence placed in the bank by our customers and the general public.”
The LMD rankings are based on the opinions of 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 nine out of these 10 areas, the bank was placed within the top five and was the highest placed entity from the banking sector.
Besides being ranked No. 1 in Sri Lanka for financial performance and honesty, Commercial bank was accorded third place in six other areas of evaluation; quality consciousness, management profile, dynamism, corporate culture, vision and nation-mindedness.
The bank has been among the top five most respected entities in Sri Lanka since the inception of this ranking by LMD.
Incorporated in Sri Lanka in 1969 and quoted on the Colombo Stock Exchange in 1970, Commercial Bank is the largest private bank in the country. The bank had the largest market capitalisation among all listed banking institutions in Sri Lanka and was ranked fifth among all listed entities at the end of 2012. The only Sri Lankan bank to be represented in the Top 1000 Banks of the World for three consecutive years, Commercial Bank operates a network of 232 branches and service points and an ATM network of 570 terminals in Sri Lanka. The bank’s assets portfolio stood at Rs. 558 billion at 30 June 2013.
