Commercial Bank named Sri Lanka’s Most Respected Bank for 14th year running

Tuesday, 28 August 2018 00:00 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon has been reaffirmed the most respected bank in Sri Lanka for the 14th year running and the fourth most respected corporate entity in the country in the 2018 rankings of the Most Respected Entities in Sri Lanka compiled by LMD following a survey by Nielsen.

Commercial Bank remains the only bank among the top five Most Respected entities in Sri Lanka in 2018. The Bank has been the Most Respected Bank in LMD’s annual ranking since the publication launched the ranking in 2005. The latest edition of the LMD ranking of Sri Lanka’s most respected companies includes the largest and most diversified conglomerates in the country and some of the world’s best-known Multi-National Companies (MNCs).

“Earning the respect of the public we serve is obviously critical to the success of our business, and we are greatly encouraged to consistently be the highest-ranked Bank in this who’s who of corporate Sri Lanka,” Commercial Bank Managing Director/CEO S. Renganathan said. “It is also particularly pleasing to be the highest-ranked bank in the country for honesty, financial performance, management profile and corporate culture, indicators that are relevant to our customers, employees and shareholders.”

Using the Olympic Ranking System it adopted in 2015 to record peer perceptions of corporate admiration, this year’s LMD ranking has conferred 46 Gold, 48 Silver and 59 Bronze medals to Commercial Bank. The ranking is based on the opinions of respondents including 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.

The only Sri Lankan bank to be ranked among the world’s top 1000 banks for eight years consecutively, Commercial Bank operates a network of 262 branches and 778 ATMs in Sri Lanka. The bank has won more than 30 international and local awards in 2016 and 2017 and 16 international awards in the first six months of 2018.

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a microfinance company in Nay PyiTaw; the Maldives, where the bank has a fully-fledged Tier I bank with a majority stake; and Italy, where the bank operates its own money transfer service.