Commercial Bank’s ATMs break own record this Avurudu

• Rs. 1.79 b dispensed on 10 April; Rs. 10.6 b in first 10 days of the month

Records tumbled once again as the Commercial Bank of Ceylon helped Sri Lankans celebrate Avurudu by dispensing unprecedented values in cash through its islandwide ATM network.

On 10 April 2013, Sri Lanka’s single largest ATM network of 562 terminals released Rs. 1,790 million (Rs. 1.79 billion) the highest value ever for a single day, surpassing the previous record set exactly a year previously by Rs. 136 million.

The number of transactions processed on this record breaking day was 325,000, at an amazing average of 225 transactions per minute over a 24-hour period. The previous record was 306,000 transactions on 10 April 2012.

The cumulative value of cash dispensed from 1 to 10 April 2013 was also a record – Rs. 10.6 billion at an average of more than a billion rupees a day, as against Rs. 9.2 billion during the corresponding period in 2012.

 The total number of transactions processed during this 10-day period this year was 2.170 million transactions, at an average of 217,000 a day.

“The Commercial Bank ATM network clearly plays an invaluable role in the day to day lives of millions of people,” said Jegan Durairatnam, the bank’s Executive Director/Chief Operating Officer. “While this is often taken for granted, the true value, capacity, robustness and reliability of the network is proven beyond a doubt during peak shopping seasons such as the Sinhala and Tamil New Year and Christmas.”

In December 2012, the ATM network of Commercial Bank dispensed a mammoth Rs. 25.3 billion, establishing a record for cash dispensed in a single month.

Durairatnam said the bank would continue to invest in expanding this indispensable delivery channel to support the needs of customers country-wide. The Commercial Bank ATM network is the largest automated cash dispensing facility owned by a single bank in Sri Lanka.

Holders of Commercial Bank’s standard ATM cum shopping debit cards can withdraw up to Rs. 40,000 from the bank’s ATMs per withdrawal. The bank also offers customers the option of setting their own ATM withdrawal limits up to a maximum of Rs. 100,000 a day, and a point-of-sale limit of up to Rs. 500,000.

The largest private bank in Sri Lanka and the only Sri Lankan bank to be listed two years consecutively in the world’s Top 1,000 Banks, Commercial Bank operates a network of 230 branches and service points in Sri Lanka.

The bank has been adjudged the ‘Best Bank in Sri Lanka’ by Global Finance magazine for a record 15 successive years and has also won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.