ComBank among top 1,000 banks

The Commercial Bank of Ceylon has been ranked among the Top 1,000 banks of the world for the fourth successive year.

The ranking published annually by 'The Banker' magazine of the UK, is an endorsement of the consistent growth and key performance indicators achieved by one of Sri Lanka's largest private banks.

"The top 1,000 World Banks ranking is compiled from a database of over 5,000 of the world's biggest banks and is acknowledged by the global financial community as the definitive guide to bank rankings and analysis," a bank official said.

Begun in 1970, the ranking is widely used all year round by senior bankers, corporate treasurers, corporate financiers, the professional services community and many others in their day-to-day decisions relating to banking.

"Making the Top 1,000 list is a noteworthy achievement, but staying there for four years in-a-row despite the challenging conditions we operate in, reflects well on the strength and stability of the Bank," said Chief Operating Officer, Commercial Bank, Jegan Durairatnam. "It is also a tribute to the passion and professionalism of the entire team that powers Commercial Bank day after day," he said.

The Top 1,000 rankings are based on the Bank's performance in 2013, which Commercial Bank ended with gross income of Rs 73.16 billion, profit before tax of Rs 14.51 billion, profit after tax of Rs 10.445 billion and assets of Rs 606.607 billion.

The Banker is published by Financial Times Business, which is the specialist publishing and conferences arm of the FT Group.