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Sunday, 12 October 2014





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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.

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).


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