ComBank opens subsidiary in Maldives
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Maldivian President, Abulla Yameen Abdul Gayoom unveils the
plaque at the
opening of the Commercial Bank of Maldives |
The Commercial Bank of Maldives, a subsidiary of the Commercial Bank
of Ceylon and a joint venture with Tree Top Investments, Maldives,
launched banking operations in the Maldives last week with the opening
of the head office and the first branch in the archipelago's capital
Malé by Maldivian President Abdulla Yameen Abdul Gayoom.
The Commercial Bank of Ceylon holds 55 percent in the partnership.
A Commercial Bank of Maldives official said the Bank will follow a
strategy of providing access to its services through the integration of
modern technology and infrastructure to serve the growing consumer and
business needs in the market.
It aims to be the most technologically advanced, innovative, customer
friendly and most sought-after financial services organisation in
Maldives, he said.
The joint venture is the third overseas banking operation of the
Commercial Bank of Ceylon, after Bangladesh, which the Bank entered in
2003, and Myanmar where the Bank opened a Representative Office in June
2015.
Commercial Bank of Ceylon, Managing Director/CEO, Jegan Durairatnam,
who led a team from the corporate management of the Bank to the opening
ceremony in Malé, said, "Our countries enjoy extremely close social and
economic ties, and our Bank is well known to thousands of Maldivians.
Many businesses in this country have already obtained off-shore loans
from us and are among our most valued customers."
Tree Top Investments, the Maldivian partner in the joint venture, was
founded in May 2013 by a group of businessmen with years of experience
and success stories from diverse business sectors. |
