Combank wins 4 Best Corporate Citizen Sustainability Awards
Commercial Bank of Ceylon’s commitment to the betterment of the environment, society and the economy was recognised when the bank was presented four awards, including the award for the second runner-up overall, at the Best Corporate Citizen Sustainability Awards, presented by the Ceylon Chamber of Commerce.
The bank won the Sector Award for Best Performance in the Financial Sector, the category award for Best Performance in Governance and was presented an award for being among the Top 10 Best Corporate Citizens in Sri Lanka, in addition to its second runner-up award.
The Financial sector award recognised Commercial Bank’s position as the most progressive banking institution in the country and its commitment to preserving the environment through responsible lending protocols. The bank pioneered a mandatory social and environmental screening process for its project lending activities and was the first bank in Sri Lanka to venture into Green Financing. It also revolutionised digital banking by introducing features in its ‘Flash’ mobile application to measure and offset customer impact on the environment.
The Category Award for Governance was presented for the frameworks, structures and processes of an entity to facilitate conformance to requirements, equity among stakeholders, ethical behaviour and optimum performance. Commercial Bank has established that it aspires to the highest standards of corporate governance to support long-term value creation by implementing well-defined policies and controls and ensuring continuous education of staff at all levels. To this end, the bank launched elearning modules for Anti Money Laundering and Combating Financing of Terrorism in 2020.
The Best Corporate Citizen Awards acknowledged the 10 corporate entities that have adopted the most outstanding sustainability practices.