BOC promotes exclusive corporate solutions and value addition to clients
Monday, 10 November 2014 00:00
Bank of Ceylon, the countryâ€™s prominent corporate and trade services provider with 75 years of experience in the banking and financial services industry, has achieved an unassailable position in providing exclusive corporate financial solutions for private and Government sector corporate entities.
The vast asset base it possesses has enabled BOC to earn the highest single borrower exposure limit, thus enabling it comfortably meet any macro investment objective of any corporate giant in the country. The bank has assigned every corporate client the service of a dedicated and specialised relationship manager with the aim of building a unique financial relationship that will guide the customer to find the right financial solution so to make business decision making smoother.
In order to accommodate different types of needs of corporate clients, the bank has clustered its services under three main units, namely corporate credit, offshore banking and trade services. Corporate credit mainly focuses on providing the financial needs of the large private sector and Government corporates with annual turnover above 600 million. Offshore banking division similarly provides financial solutions to BOI registered companies whose accounts are maintained in number of designated foreign currencies (USD, GBP, EUR, JPY, AUD, CHF, SGD and CAD). Trade Services of BOC will accommodate the trade finance requirements of any customer whilst being a support division to both corporate credit and offshore banking division.
Altogether the BOC Corporate Banking Division portfolio consists of:
Project lending, operational and working capital finance, medium and short term corporate loans, Trade finance, financing syndicate loans, bank gurantees, advising letters of credit, transferring letters of credit, adding confirmation, handling duty rebates, providing status reports, cash management and treasury operations.
As a bank that always takes the lead in introducing innovative, secured and convenient financial solutions, BOC Corporate has established online Letter of Credit Processing facility to corporate clients. BOC Corporate also provides competitive rates in order to assist the customer to negotiate rates with suppliers confidently. Apart from direct financial facilities bank has also offers facilities for making online custom duty/ tax payments, Sri Lanka Port Authority (SLPA) payments and to make large volumes of SLIPS payments.
As a provider of a complete range of Corporate financial services provider BOC Corporate Trade services has already being recognised for its superior quality of service through ISO 9001:2008 certification, being the first to be awarded such among all other banks and has consolidated its position for the second consecutive year. Bank of Ceylon also possesses a strong and wide correspondent network of over 800 foreign agents covering every part of the world and has gained acceptance for its stability and trustworthiness throughout which is another value addition to corporates who deal through Bank of Ceylon.
The Bank of Ceylon earned global recognition as one of the top 1,000 banks in the world, as listed by The Banker Magazine (UK) respectively in 2012, 2013 and 2014. The bank claimed its award as the only Sri Lankan brand recognised as one of Asiaâ€™s Best Brands in 2013 by the Chief Marketing Officerâ€™s Council (CMO Council) based in Mumbai, India. Brand Finance Lanka ranked Bank of Ceylon as the No.1 Brand in Sri Lanka for the last six consecutive years. The Bank of Ceylon recorded yet another hat-trick in 2013 at the National Business Excellence awards ceremony organised by the National Chamber of Commerce.
The bank has achieved exceptional milestones in recent years by achieving rapid growth in recent years and currently holds over Rs. one trillion assets. Focusing on the bankâ€™s achievement, Fitch Rating Lanka ranked the Bank of Ceylon at AA+(lka) which is the highest rating awarded to a local commercial bank. Bank of Ceylon is also the only Sri Lankan bank with an international presence, with branches in Chennai, Male, Seychelles and a subsidiary in London.