Commercial Bank affirmed ‘Strongest Bank’ in Sri Lanka in 2017
The Commercial Bank of Ceylon PLC has emerged the Strongest Bank in Sri Lanka in 2017, according to the prestigious Asian Banker magazine, and has once again been ranked among the 500 strongest banks in the Asia Pacific region on Balance Sheet evaluation.
Presenting the coveted accolade to Commercial Bank on the side-lines of the annual SIBOS Convention in Toronto, Canada, Asian Banker said: “The bank had strong liquidity and capital adequacy ratios, which demonstrated a sustainable balance sheet for the financial year as compared to other banks in the country. With a strength score of 3.08, Commercial Bank of Ceylon holds the top spot for the banks in Sri Lanka.”
The Asian Banker award is based on a detailed and transparent scorecard compiled and analysed after an independent assessment of six areas of balance sheet financial performance – the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.
The Asian Banker 2017 ranking of the 500 strongest banks in the Asia Pacific region includes banking giants such as Bank of China (Hong Kong) which topped the ranking, Industrial & Commercial Bank of China (Macau), HSBC, Bank of Taiwan, Hang Seng Bank, OCBC Bank (Singapore), Standard Chartered Bank (Hong Kong) China Construction Bank Corporation, Sumitomo Mitsui Financial Group (Japan), and DBS Group (Singapore).