Bank of Ceylon among Top 1000 Banks in the World

The Banker U.K Magazine revealed The Bank of Ceylon as the No. 1 Bank in Sri Lanka among the World’s Top 1000 Banks in its July 2016 issue. BOC has won many accolades and recognition in the recent past including the title as the “Strongest Bank” in the country given by the “Asian Banker” for the strength of its 2015 balance sheet, the Gold Award as the winner of the National Business Excellence Awards Ceremony and being named the No.1 Brand in the country for the 8th consecutive time.

It was able to reach its second Trillion by gaining Rs. One Trillion deposits in 2016. The first trillion in assets was achieved in 2012 BOC is set to reach its third Trillion in the near future. Breaking its own record set by its 2014 profit before tax of Rs.20.3 Billion, it earned the highest ever profit made by a single Sri Lankan business entity which is Rs. 25.3 Billion PBT in 2015. This was a 25% growth over the previous year. BOC owns a strong balance sheet comprising robust savings deposits in both local and foreign currencies.

BOC currently holds the largest foreign currency deposit base. Based on the stable outlook of the Bank, Fitch Rating Lanka ranked the Bank of Ceylon at AA+ (lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka. With nearly 77 years of trust and stability in the Sri Lankan banking industry, the Bank of Ceylon has led the industry shaping its landscapes in par with the international banking industry.

“The Banker” Magazine UK, is one of the premier banking and finance magazines in the world and has been so since its inception in 1926. The Benchmark top 1000 bank list has been compiled by the “The Banker” since 1970. The Banker database holds comprehensive financial data, news feeds and executive contact data on the leading banks in every country and its ranking sets in the industry standard for measuring bank performance and strength. “Being able to hold the title as the leading Sri Lankan bank in the World’s Top 1000 banks list is truly a privilege and an honor.