BoC ranked SL’s No.1 brand for sixth consecutive year
Brand Finance Lanka, a subsidiary of Brand Finance network (UK) has ranked Bank of Ceylon (BoC) yet again as the No.1 brand in Sri Lanka. Thus, the state-owned financial services giant that calls itself ‘Bankers to the Nation’ has set an unrivalled record by becoming the only business to have become the No.1 brand in the country for six consecutive years bettering its own record of five consecutive years at the top position.
BoC’s brand value has increased significantly to Rs.30.83 billion in 2014 compared to Rs.24.15 billion in 2013. Set to celebrate its 75th anniversary this year, BoC has built its brand locally and internationally.
BoC is represented in every part of the island. Almost half of the Sri Lankan population is associated with the brand BoC in many different ways. Through its multi-channel and a multi-faceted nature, the bank has approached its customers through a diverse range of banking products and services, thus guiding customers, entrepreneurs and investors to reach a higher elevation.
This diverse range of products and services has enabled the bank to reach every economic and demographic segment in the country. Currently BoC has reached every nook and corner of the country with a linked network including over 600 branches and 500 ATMs.
By extending its banking hours in selected branches along with the 365-day banking facility at the head office branch in Colombo, BoC has been able to reduce the time constraint in banking bringing the brand BoC even closer to Sri Lankan lives thus dominating the local financial services industry in all directions. These capabilities form part of the base on which BoC’s unrivalled brand image within the Sri Lankan banking community is built.
BoC Chairman Air Chief Marshal Harsha Abeywickrama stated, “Being a state bank, BoC’s role encompasses many responsibilities towards the state-its main stakeholder. The bank has nurtured the brand since its inception in1939 to become the No.1 brand. This reflects the true leadership of BoC in the banking sector.”
BoC General Manager D.M. Gunasekara stated, “Being the No.1 Bank we believe this will not only benefit the bank, but that we are fulfilling a current need of the country which is to build strong Sri Lankan brands internationally and to uplift the country’s profile. This will attract foreign investments towards Sri Lanka and build the brand equity of the country. There are very few Sri Lankan brands that have reached the overseas markets compared to other countries. It is challenging but we believe we can take on this challenge with true commitment and then go forward and achieve it.”