ComBank named ‘Best Bank in Sri Lanka’ by Global Finance for 24th year

In recognition of its outstanding performance and continued leadership in the banking sector, the Commercial Bank of Ceylon has once again been adjudged the ‘Best Bank in Sri Lanka’ by the US-based Global Finance magazine, marking the 24th occasion the Bank has received this prestigious accolade.

The accolade comes as part of Global Finance’s ‘World’s Best Banks 2026’ awards, which recognise top-performing banks in more than 150 countries, territories and districts across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe.

In the Asia-Pacific region, Commercial Bank stands alongside some of the world’s most prominent banking institutions, including CBA (Australia), ICBC (China), Bank of China (Hong Kong), ANZ (New Zealand), DBS (Singapore), MUFG (Japan), State Bank of India (India), City Bank (Bangladesh), Hana Bank (South Korea) and Techcom Bank (Vietnam), all of which were adjudged the best banks in their respective countries.

Commercial Bank Managing Director/CEO Sanath Manatunge said the bank’s achievement of winning the award 24 times is both significant and purposeful in the context of Sri Lanka’s economic journey.

“This recognition is particularly meaningful as it reflects excellence demonstrated at the highest level across multiple years,” he said. “It is not merely about maintaining standards, but about continuously strengthening the bank’s capacity to support customers, businesses and the broader economy through cycles of challenge and recovery. As Sri Lanka consolidates its economic progress amid global and local uncertainties, this recognition underscores our continued strength in remaining stable, forward-looking and responsive in a dynamic environment.”

Manatunge noted that the bank’s latest performance reflects a combination of strong financial fundamentals, disciplined risk management and sustained investment in innovation. He pointed out that Commercial Bank has continued to record robust growth in assets, loans and deposits, while maintaining industry-leading profitability, efficiency and asset quality. Return on equity has strengthened to over 21%, cost-to-income ratios have improved to among the lowest in the sector, and non-performing loan ratios remain tightly controlled, underscoring prudent credit management and resilience, he said.

Commercial Bank also continued to lead in digital innovation and financial inclusion, launching several first-to-market solutions including AI-powered credit underwriting for SMEs and advancing digital payment capabilities. The Bank further strengthened its leadership as Sri Lanka’s largest lender to the SME sector, accounting for over 30% of total SME lending, while expanding support for women entrepreneurs and underserved communities through targeted initiatives and its ‘ComBank Shakthi’ agency banking model.

Commercial Bank’s international operations have also contributed strongly to its performance, particularly in Bangladesh, where the bank has achieved sustained balance sheet growth while maintaining exceptionally low non-performing loan ratios and securing continued top-tier credit ratings.

Announcing the awards, Global Finance Founder and Editorial Director Joseph D. Giarraputo said: “The global banking sector continues to demonstrate resilience despite geopolitical volatility, regulatory pressure, and growing fintech competition. The Best Bank Awards 2026 honour the institutions that best manage their assets and liabilities while investing in digital innovation and AI to meet the changing needs of their clients.” 

Global Finance said its editors selected the winning banks after extensive consultations with corporate financial executives, bankers, banking consultants and analysts worldwide. The selection process combined objective criteria such as growth in assets, profitability, geographic reach, strategic relationships, new business development and product innovation, with subjective inputs from industry experts including equity analysts and credit rating specialists.

The magazine noted that this year’s winners are institutions that have successfully responded to customer needs in challenging markets, delivered strong financial results, and laid solid foundations for future growth, while prudently managing assets and liabilities in an environment of continued uncertainty in global trade and economic conditions.