Commercial Bank is Sri Lanka’s Most Respected Bank for 12th successive year

Tuesday, 16 August 2016 00:10 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon has been rated the most respected bank in Sri Lanka for the 12th year running and the second ‘Most Respected’ corporate entity in the country overall for the sixth successive year in the 2016 LMD rankings of the Most Respected Entities in Sri Lanka.

The bank has retained its No. 1 ranking in Sri Lanka for ‘Honesty’ for the fourth consecutive year, and has been rated No. 1 overall for Financial Performance for two consecutive years. The just-released ranking also has Commercial Bank within the top five entities in six of the 10 areas evaluated for this prestigious list.

Commercial Bank remains the only bank among the top five Most Respected entities in Sri Lanka in 2016.

Commercial Bank has been the Most Respected Bank in LMD’s annual ranking since the publication launched the ranking in 2005. The latest edition of theLMD 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).

“We are justifiably proud to be the highest-ranked bank in this list of the who’s who of corporate Sri Lanka, and are especially pleased to once again top the ranking for honesty as well as financial performance,” Commercial Bank Managing Director/CEO Jegan Durairatnam said. “It is also noteworthy that the bank is ranked among the bestin vision, dynamism, quality consciousness and innovation, because these are aspects that are particularly important in banking.”

Using the Olympic Ranking System it adopted last year to record peer perceptions of corporate admiration, this year’s LMD ranking has conferred 79 Gold, 70 Silver and 49 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 Top 1000 banks of the world for six years consecutively, Commercial Bank operates a network of 251 branches and 635 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s Best Bank, Best Trade Bank, Strongest Bank, Most Respected Bank from a number of local and international institutions and publications over several years and has also been adjudged one of Sri Lanka’s 10 best corporate citizens by the Ceylon Chamber of Commerce for several years.

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 18 outlets and Myanmar, where it has a Representative Office in Yangon. The bank will open a fully-fledged Tier I Bank in the Republic of Maldives in 2016. The bank also recently received a license to operate a fully owned Money Transfer Operation in Italy.

Ranked No. 1 for Honesty for 4th

consecutive year, No. 1 in Financial Performance for 2 years in a row