COMBank picked as Trade Finance’s best in Sri Lanka

Wednesday, 29 June 2011 00:50 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon has been adjudged the ‘Best Sri Lankan Trade Bank’ by the prestigious UK based ‘Trade Finance’ magazine in yet another international acknowledgement of the Bank’s status as the country’s best bank.

This is the second occasion that the Commercial Bank has been declared the Best Sri Lankan Trade Bank by Trade Finance.

The Bank previously received this accolade in 2009, the year that the category was introduced at the magazine’s annual awards for banking excellence.

The Commercial Bank’s strong network of agents and correspondents and its expertise in international trade were cited as some of the reasons for the Bank being singled out for honours at the Trade Finance Awards for Excellence. These awards are to be presented on the basis of individual performances of the respective banks.

“This award is an important reiteration of Commercial Bank’s pre-eminent position as a service provider to businesses, especially those in import and export,” said Commercial Bank’s DGM - International Jegan Durairatnam. “It emphasises the fact that our commitment to this customer segment has been sustained and strengthened.”

He noted that the skills and expertise developed by Commercial Bank in Trade Finance during its nearly 100 year long involvement in the sphere, supported by its network of branches, agents and correspondents in all key markets that its customers operate in, as well as in global financial centres had enabled the Bank to secure the award for a second time.

Published by Euromoney PLC, London, Trade Finance magazine has been reviewing the global trade market since 1983.

The magazine is a channel for the latest news and analysis covering trade services and supply chain, factoring, structured commodity finance and export as well as agency finance.

Established in 1969, Commercial Bank owns a network of 198 computer-linked branches and supermarket banking counters in Sri Lanka.

The Bank also owns the single largest network of ATMs in the country, currently numbering 420 terminals. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 13 consecutive years by ‘Global Finance’ Magazine, ‘Bank of the Year’ seven times by ‘The Banker’ magazine, and the Best Bank in Sri Lanka twice by FinanceAsia.