Euromoney ranks Commercial Bank ‘Sri Lanka’s Best’

The Commercial Bank of Ceylon has been adjudged ‘Best Bank in Sri Lanka’ by the world’s leading financial markets magazine Euromoney.

Adding another award to the list of global awards won during the past few months by Commercial Bank, Euromoney has recognised the bank for its strong strategy of attracting and serving customers, its innovative product development, asset growth and strategic relationships.

As Euromoney’s choice for ‘Best Bank in Sri Lanka,’ Commercial Bank is ranked alongside other renowned global banks. The awards ceremony took place in Hong Kong in July 2011.

“Being rated as ‘best’ in Sri Lanka by an international publication of the calibre of Euromoney is an endorsement of our fundamentals and our strategic approach,” said Commercial Bank’s Chief Financial Officer Nandika Buddhipala.

“The Commercial Bank team is honoured to be able to reiterate its standing among the leading financial institutions in the region as well as among the local banks,” he added.

The evaluation by Euromoney covers banks in all major countries in Asia, Middle East, Europe, Africa, North and Latin America, the Caribbean as well as the Nordic and Baltic regions.

Euromoney honours institutions that demonstrate leadership, innovation and momentum in the markets in which they excel and presents a number of awards to the Asian region’s banks and securities houses.

The selection criteria for these awards involves an in-depth analysis by Euromoney editors based on qualitative and quantitative criteria such as market position, volume of business transacted, new product development, management system, credit ratings, efficiency ratios and annual key performance indicators.

Commercial Bank is the largest private bank in Sri Lanka, and the most internationally lauded financial institution in the country.

The bank has been adjudged ‘Best Bank in Sri Lanka’ for 13 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines. Commercial Bank operates a network of 200 computer-linked service points in Sri Lanka in addition to 17 service points in Bangladesh.  The bank also owns the single largest network of ATMs in the country currently numbering 430 terminals.