ComBank and MD/CEO clinch top honours as ‘Sri Lanka’s Best’ from The Asian Banker

Commercial Bank Managing Director/CEO Sanath Manatunge (third from left) receives the two awards from The Asian Banker 

The Commercial Bank of Ceylon and its Managing Director/CEO Sanath Manatunge have been named the ‘Best Managed Bank’ and the ‘Best Bank CEO’ in Sri Lanka respectively by The Asian Banker (TAB) magazine, bestowing on them two prestigious accolades that are presented once in every three years.

These awards, in respect of the 2022-2024 period, were presented at the TAB Global Leadership Achievement Awards ceremony and gala dinner in Jakarta, Indonesia, in conjunction with the 2025 edition of The Asian Banker Summit, the largest annual gathering of professionals in the financial services industry in the Asia Pacific region.

According to The Asian Banker, its Leadership Achievement Awards are widely acknowledged by the financial services industry as the highest possible accolades available to professionals in the industry globally. The program is anchored by a panel of global leaders and subject matter experts as advisors. The selection process is a rigorous one, completed over several months and involving feedback and interviews with all constituents who are in a position to comment on the candidates.

The Best Bank CEO award recognises the visionary leadership of Manatunge during a period of volatility, in which the Commercial Bank navigated significant macroeconomic challenges while reinforcing its position as the strongest, most stable, and most trusted financial institution in Sri Lanka.

“Throughout 2022-2024, Sanath Manatunge demonstrated unparalleled courage and passion in leading the bank through unprecedented economic, financial, and operational challenges. His bold strategic decisions, commitment to digital innovation, customer-centric approach, and sustainability solidified Commercial Bank’s status as the strongest and most resilient financial institution in Sri Lanka,” the bank said. “The CEO’s leadership has redefined Sri Lanka’s banking landscape, making Commercial Bank a global benchmark in resilience, innovation, and sustainable banking.”

Among the many highlights of the period assessed for these awards were capital infusions of Rs. 22.54 billion and Rs. 20 billion raised through a rights issue and a debenture issue respectively to enhance capital adequacy and financial stability; being ranked the country’s largest lender to the SME sector for the fourth consecutive year; the launch of a comprehensive SME business ecosystem named Commercial Bank LEAP GlobalLinker to strengthen supply chain connectivity and market access; the launch of Host-to-Host (H2H) payment services under ComBank Digital Enterprise Solutions to boost corporate efficiency; the ComBank Digital platform surpassing 1.5 million users and processing transactions exceeding Rs 4 trillion in a year; and the completion of the planting of 100,000 trees annually, reinforcing the bank’s environmental commitment, were among the noteworthy achievements. 

These and many other significant milestones were achieved while consolidating Commercial Bank’s position as the largest private sector bank in Sri Lanka by assets, loans and deposits, the first private sector bank to surpass Rs. 2 trillion in assets and deposits and Rs. 1 trillion in loans, and as the bank with an industry-leading CASA ratio, standing at 38.07% as at end 2024.

Among the other award-winning bank CEOs honoured alongside Manatunge were Hong Kong and Greater China and North Asia, Standard Chartered Bank (Hong Kong) CEO Mary Huen, Mizuho Financial Group (Japan) President and Group CEO Masahiro Kihara OCBC (Singapore) Group CEO Helen Wong and Brunei, and Baiduri Bank CEO Ti Eng Hui.

The winners of the Best Managed Bank awards for their respective countries were Baiduri Bank (Brunei), Standard Chartered Bank (Hong Kong), Mizuho Financial Group (Japan), OCBC (Singapore) and Techcombank (Vietnam).

Commercial Bank has also been recognised as the ‘Strongest Bank in Sri Lanka,’ on several occasions by TAB Insights, the global research and consulting subsidiary of TAB Global, the parent company of The Asian Banker magazine.