BoC ends 2020 with highest asset base of Rs. 2.9 t

Tuesday, 22 December 2020 01:57 - - {{hitsCtrl.values.hits}}

Says despite COVID-19 impact, bank reached highest deposit base of Rs. 2.3 t
Maintained 40% share of remittances at $ 2.5 b
Recent downgrades create minimal impact, international operations uninterrupted

The Bank of Ceylon (BoC) yesterday said it was ending 2020 on a healthy note despite the COVID-19 impact, having recorded the highest asset base of Rs. 2.9 trillion and deposit base of Rs. 2.3 trillion.

Issuing a statement the banking giant said it had managed to weather the economic downturn caused by the pandemic and recorded the highest asset base of Rs. 2.9 trillion and highest deposit base of Rs. 2.3 trillion.

BoC also said it had maintained its market leadership in Trade, Finance, and Treasury operations including its more than 40% market share of inward remittances amounting to $ 2.5 billion and most of the spheres in the banking and finance arena.

“All customers can confidently rely on the strength and the stability of the bank for all their banking needs.”

“The recent downgrade of the sovereign and banking institutions in Sri Lanka had a minimal impact on the soundness of the bank and its international operations continue uninterrupted,” the statement added.

Being a bank that has maintained its international presence for over eight decades, its foreign correspondent relationships have never been questioned and have been growing from strength to strength, it noted.

Bank of Ceylon has been attracting many local and foreign accolades for its banking excellence along its way and looks at 2021 on a positive note.