ComBank ranked most valuable private sector brand

The Commercial Bank of Ceylon has been ranked the third most valuable brand in Sri Lanka in the 2014 rankings compiled by Brand Finance Lanka and published in the LMD Brands Annual for the year.

Moving up two places from last year to become the highest ranked private sector brand on this prestigious list among all corporate brands in the country, the bank has been assigned a brand value of Rs 22.32 billion through an independent analysis by Brand Finance.

The Bank has been rated AAA- by Brand Finance Lanka and recorded the highest growth of 47% over 2013 among the top companies listed in the rankings.

In its overview of the latest ranking of Sri Lanka's most valuable brands, Brand Finance noted that "Commercial Bank continues its dramatic rise in the rankings."

The financial services sector dominates the 2014 ranking, with banks accounting for Rs 148.8 billion or 42% of the collective brand value of Rs 348 billion. Five of the Top 10 most valuable brands in Sri Lanka are banks.

"We are pleased to be ranked the most valuable private sector brand in Sri Lanka, because the strength of the relationship the brand has with its stakeholders is a key measure in brand valuation," Commercial Bank's Managing Director and CEO, Ravi Dias said.

"Strong brand equity translates directly to greater customer loyalty and acquisition of new customers. Therefore, this ranking is an important measure of the efforts of the entire Commercial Bank team."

"By building the value of our corporate brand, the Bank is now well positioned to generate long term returns for the business by focussing on value-based marketing. This encompasses multiple aspects that enable the Bank to harness the brand's value creation potential with tangible results," Dias said.

He said Commercial Bank's brand value is based on its reputation and well-established financial stability, and its focus on convenience, accessibility of products and services and quality of service.