Commercial Bank rewards highest rankers in the island at Year 5 Scholarship exam
Saturday, 8 February 2014 00:00
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The Commercial Bank of Ceylon rewarded nine students who achieved the highest ranks in the island at the Year 5 Scholarship examination held last year with attractive cash prizes at a ceremony held recently.
Nine students comprising of the student placed first in the island, three who achieved the second highest marks and five who took third place island-wide were among those recognised for academic excellence by Sri Lanka’s largest private bank at this event, conducted by ‘Arunalu,’ the bank’s signature children’s savings account.
These cash rewards were in addition to cash prizes amounting to more than Rs. 3.7 million presented by the bank to 575 high achievers at the Year 5 Scholarship examinations in 2013.
Commercial Bank rewarded these students by opening new Arunalu Minors’ Savings Accounts with deposits ranging from Rs 50,000, while existing Arunalu Minors’ Savings Account holders among them received scholarships that pay attractive monthly installments into their accounts until they reach 18 years of age.
Under the rewards scheme, if the child placed 1st in the island at the scholarship exam is an Arunalu account holder, he or she can receive up to Rs. 170,000 in monthly instalments of Rs. 2,000 each. Students placed second and third in the Island can receive up to Rs. 127,000 and Rs. 85,000 respectively in monthly instalments of Rs. 1,500 and Rs. 1000, if they are Arunalu account holders.
In addition, the Arunalu Minors’ account holders placed 1st, 2nd and 3rd in their respective schools at the scholarship exam receive cash prizes of Rs. 10,000, Rs. 7,500 and Rs. 5,000 each, while the students placed first in the district are given the opportunity to double their Arunalu account balances, up to a maximum of Rs. 50,000.
“The new rewards scheme is a further affirmation of the Bank’s commitment to encourage and reward students for academic performance and while inculcating the savings habit in them,” Commercial Bank’s Deputy General Manager Marketing Hasrath Munasinghe said.
At the ceremony to reward the top nine achievers at last year’s Year 5 scholarship examination, Sandaru Thathsara Balahewa of Mahinda Vidyalaya Galle was honoured for being ranked 1st place in island. Kavindya Gimhani Malawiarachchi of Godagama Subharathie Mahamathya Maha Vidyalaya Homagama,
Heshan Chanuka Dharmaratne of Karagasthalawa Vidyalaya Ratnapura and Jinali Vidulanka Munasinghe of Bandaranayake Kanishta Vidyalaya Hettimulla, were rewarded for achieving the second highest marks. Students Thamindu Swarna De Silva of Ambalangoda Dharmasoka Vidyalaya, Shenuka Dunanjana Ariyaprema of Theraputtabhaya Primary School Hambantota, Neransi Roneth Gamage of Vidyalankara Primary School Ratnapura, Isuru Kelum Kumara of Essadduma Subharathie Kanishta Vidyalaya Kuliyapitiya and Sajani Sadisna Menike Wijesingha of Vishaka Girls College Kuliyapitiya, received cash prizes for being ranked 3rd in the island.
Launched in 1991, Arunalu has been Commercial Bank’s key savings account which caters to children of the school going age. In 1998 Commercial Bank was the first bank to introduce the year 5 Scholarship examination cash prize scheme with the intention of strengthening its enduring commitment to excellence in education.
The only Sri Lankan bank to be ranked among the world’s top 1000 Banks for three successive years, Commercial Bank operates a network of 235 computer-linked service points and the country’s single largest ATM network of 585 terminals. The bank has been adjudged ‘Best Bank in Sri Lanka’ for 15 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.
