Combank wins award
The Commercial Bank of Ceylon has been adjudged 'The Strongest Bank
in Sri Lanka in 2014' by The Asian Banker, a provider of strategic
intelligence on the financial services industry.
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Commercial Bank’s Executive Director and Chief Operating
Officer S. Renganathan (second from left) and President and
CEO, BAFT, Todd R. Burwell (extreme left) with the award
presented to the Bank. |
The award is based on a detailed and transparent scorecard that ranks
commercial banks on six areas of balance sheet financial performance:
the ability to scale, balance sheet growth, risk profile, profitability,
asset quality and liquidity.
It was formally presented to Commercial Bank Chief Operating Officer
and Executive Director S. Renganathan in Boston, USA, recently, by Todd
R. Burwell, President and CEO of BAFT, the association for organisations
actively engaged in international banking.
The presentation took place on the side-lines of Sibos 2014, the
annual conference, exhibition and networking event organised by SWIFT
for the financial industry. Billed the world's premier financial
services event, this year's Sibos conference was attended by 7,000
international decision-makers and topic experts from financial
institutions, market infrastructures, multinational corporations and
technology partners.
This ranking as Sri Lanka's strongest bank places Commercial Bank
among The Asian Banker '500 Largest and Strongest Banks' - a ranking
widely followed by investors, analysts and the media as a source to
assess the financial strength of commercial banks in the region.
Commercial Bank's Managing Director and CEO Jegan Durairatnam said,
"The key performance indicators assessed by the panel of international
experts are the components of the financial strength that is the
ultimate goal in Banking.
This ranking reaffirms that Commercial Bank continues to get all its
fundamentals right even in tough conditions."
Ranked alongside Commercial Bank in The Asian Banker 500 as the
strongest banks in their countries are Westpac Banking Corporation
(Australia), Janata Bank (Bangladesh), China Construction Bank
Corporation (China), HDFC Bank (India), Sumitomo Mitsui Financial Group
(Japan), Maybank (Malaysia), ANZ Bank New Zealand (New Zealand), MCB
Bank (Pakistan), DBS Group (Singapore), Shinhan Financial Group (South
Korea), Cathay United Bank (Taiwan) Siam Commercial Bank (Thailand) and
Standard Bank Group (South Africa). |
