BOC leads Sri Lankan banks in world’s top 1,000 list
Thursday, 18 July 2013 00:11
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Sri Lanka’s number one bank, Bank of Ceylon, with 74 years of strength, trust and stability behind it, received global recognition as one of the top 1,000 banks in the world by superseding all Sri Lankan banks, according to the world’s premier banking and finance magazine The Banker published on July 2013. The top 1,000 banks were selected in recognition of global leaders in the industry for their achievements.
The rankings are one of the industry’s most widely used indexes of global banking and are internationally recognised as the definitive guide to the strength, size, soundness, profitability, performance of banks.
The Banker magazine, first published in January 1926 in the UK, is circulated in over 180 countries and is the key source of data and analysis for the industry in international finance affairs.
Bank of Ceylon serves over 10 million accountholders island-wide and its commitment to each of them remains steadfast. Fitch Rating Lanka Ltd. affirmed Bank of Ceylon’s national long-term rating of AA+ (lka) stable outlook, which is the highest rating awarded to a local commercial bank. Brand Finance Lanka ranked BOC as the number one brand in Sri Lanka for the fifth consecutive year in 2013.
The bank’s multi-faceted offering is one of its greatest strengths. From the children’s savings account to corporate credit for the State sector and private companies, the bank serves at every level. The bank also has the strength and the diversity of resources to offer its customers a range of financial solutions such as corporate banking, retail banking, Islamic banking, investment banking, off-shore banking, development banking, international and Treasury operations and trade financing services, through its widespread branch network covering all parts of the country. At the moment, the bank has over 1,300 touch points including branches and foreign corresponding agents. Furthermore, the bank has 503 ATMs island-wide.
Commenting on this achievement, Bank of Ceylon Chairman and President’s Counsel Razik Zarook stated: “This milestone has been achieved with the exceptional brand equity, scale, trust and stability of Bank of Ceylon. The bank has performed well in all business lines by providing timely solutions to its customers. Aggressive plans are underway to expand the branch network locally and internationally by capturing untapped markets.”
BOC possesses the strength and diversity of resources to offer a complete range of financial solutions to its customers. BOC has further expanded its unprecedented banking and financial services to overseas branches in Chennai and Male and now has banking operations in London.
Further, commenting on this exceptional global recognition, Bank of Ceylon General Manager/Chief Executive Officer D.M. Gunasekera said: “The bank has achieved this key milestone with the dedication and commitment of its staff and the loyalty placed by the customers in the BOC brand. The bank has touched more than 10 million lives in the country. We are the number one bank in Sri Lanka.”
Maintaining solid partnerships with the private sector, BOC supports infrastructure development activities, the provision of working capital and has significant investments in Government projects. Aligned with the Government’s pursuit of socioeconomic development, the bank took major strides to assist in the country’s unprecedented demand for monetary support by easing loans as well as service provisions across the economy, especially in the north and east.
On 1 August 2013, Bank of Ceylon celebrates its 74th anniversary – a voluminous period of strength, success and stature. Leading the banking and financial sector since 1939, BOC has constantly succeeded in contributing to the growth of the nation and continues to assist in the development of the country and in guiding entrepreneurs to reach greater heights, which makes Bank of Ceylon the ‘bankers to the nation’.
