Combank proudly celebrates the International Women’s Day with the ‘Anagi’ Women’s Banking portfolio, a suite of services supporting women’s financial empowerment

The bank has been a trailblazer in women empowerment, and a leading advocate for financial inclusion. In line with SDG 5 – Gender Equality, the bank recognises the role women play in the nation’s vitality, which underscores its comprehensive approach to driving positive, sustainable change in

Sri Lanka’s economy.

The expanded “Anagi Women’s Banking” portfolio reflects Combank’s unwavering dedication to women’s empowerment. “Anagi” offers tailored banking services, including the “Anagi Women’s Savings Account”and the “Anagi Business Loan for Women Small and Medium Entrepreneurs (WSME)”. This initiative supports women through higher interest rates, flexible withdrawals, and many other valueadded services. Either a Statement Savings Account or a Passbook Savings Account can be opened, as preferred by the applicant.

As the largest private bank in Sri Lanka, Commercial Bank of Ceylon (Combank) understands the importance of inrtertwining sustainability with its strategic intent. The bank’s strategic initiatives, recognised with awards like “Best Bank for Environmental, Social and Governance (ESG)”, position it as a leader in addressing economic challenges and promoting good ESG practices with an explicit commitment to the achievement of Sustainable Development Goals (SDGS).

The bank has been a trailblazer in women empowerment, and a leading advocate for financial inclusion. In line with SDG 5 – Gender Equality, the bank recognises the role women play in the nation’s vitality, which underscores its comprehensive approach to driving positive, sustainable change in Sri Lanka’s economy. Incidentally, Women make up the majority of the Bank’s Micro-scale customer segment, where close to 50% of the Bank’s SME exposure is in ‘womenconnected’ entities. Combank’s proactive dedication to advancing women entrepreneurs is unmistakable, demonstrated through a range of initiatives tailored to empower them.

For instance, a three-month skills development programme, crafted by the Post Graduate Institute of Management, focuses exclusively on enhancing the entrepreneurial capacity of women entrepreneurs. Moreover, strategic collaborations with “Commercial Bank LEAP” and the establishment of a dedicated page for women entrepreneurs on the “Trade Club” digital platform underscore the bank’s commitment, by offering a plethora of non-financial services specifically designed for SMES, enabling women in business to expand their horizons to international markets through effective business networking and cross-border engagement.

Significantly, the Commercial Bank of Ceylon has maintained a long and prosperous collaboration with the International Finance Corporation (IFC), engaging in both financial and advisory roles to bolster its dedication to empowering women. In 2020, the bank strategically aligned with the IFC, participating in the IFC-DFAT Women in Work programme. This partnership led to the implementation of a “Gender Advisory Project”, a proactive step aimed at refining the bank’s attention to the specific requirements of its female clientele. Combank also partners with the IFC that conducts capacity building programs for budding women entrepreneurs.

This commitment has been acknowledged with several accolades such as the prestigious “Best CSR Project on Women Empowerment by an Organisation” award at the “Top 50 Professional and Career Women Awards, Sri Lanka & Maldives” an event organised by Women in Management (WIM), together with the IFC and the Government of Australia. Combank, in its pursuit of strategic initiatives to uplift women, has concurrently developed a comprehensive portfolio of products and services dedicated to women’s empowerment.

The expanded “Anagi Women’s Banking” portfolio reflects Combank’s unwavering dedication to women’s empowerment. “Anagi” offers tailored banking services, including the “Anagi Women’s Savings Account”and the “Anagi Business Loan for Women Small and Medium Entrepreneurs (WSME)”. This initiative supports women through higher interest rates, flexible withdrawals, and many other value-added services. Either a Statement Savings Account or a Passbook Savings Account can be opened, as preferred by the applicant. “Anagi” accountholders are eligible for preferential lending rates when obtaining Personal Loans, Home Loans and Leasing facilities.

“Anagi” accountholders are also offered a branded ‘Members Only’ passbook and an Anagi Debit Card with exciting year-long promotions. Account holders also receive the “Combank Digital” online banking facility with the joining fee and the first year’s annual fee waived off along with epassbook facility and the estatement facility. Furthermore, children of “Anagi” Accountholders get a free Minors’ Savings account as well. The “Anagi Business Loan” stands out as a crucial resource, offering female Small and Medium Entrepreneurs loans for working capital or investment purposes. Available exclusively for female business owners and businesses with female business partners or directors, this scheme enables applicants to receive loans from Rs 200,000/- to Rs 250 million at competitive interest rates, and with flexible grace periods.

Commercial Bank is also committed towards driving empowerment among the female staff within the organization. While 56% of the Bank’s recruits in 2023 were female, this year, the Bank is rolling out a leadership development programme exclusively for female staff. In line with Women’s Day this year, the Bank has organised a special session exclusively for all female staff members, and the Bank will be continuing to have periodic sessions for female staff on topics such as personal care, health, nutrition, childcare, etc. throughout the year.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank operates a strategicallylocated network of branches and 964 automated machines in Sri Lanka, is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fullyfledged Tier I Bank with a majority stake in the Maldives.