ComBank adjudged ‘Best Corporate Bank’&‘Best Retail Bank’ in Sri Lanka

The Commercial Bank of Ceylon has won the titles of ‘Best Retail Bank Sri Lanka 2022’ and ‘ Best Corporate Bank Sri Lanka 2022’ at the annual awards of t he UA E - b a s e d G l o b a l Business Review magazine, which recognises and reward sexcellence in companies across sectors. The Bank was presented these accolades on the basis of the conclusions of an independent research team that reviewed i t s p e r for mance in 2021. Commercial Bank remained the benchmark and fastest- growing private bank in Sri Lanka in the year of assessment andoutperformed its competition with a number of sector- leading performance indicators among the private banks in the country.

These included the highest market capitalisation, highest gross income, highest profit before and after tax, highest value in total assets, highest value in gross loans, highest market share of loans, highest total shareholder funds, highest operating income, highest total deposits, highest market share of deposits, and the highest CASA ratio.

The Bank also launched a series of products and services in 2021 that enhanced the experience of both its retail and corporate clients. In the retail sphere, it i n t roduced Viber and WhatsApp banking, became the first Sri Lankan bank to issue a unified QR code under LANKAQR specificat i o n s, launched the f i r s t - eve r Aggregator App in the local bankingspace, redesigned the ‘Anagi Women’s Banking’ portfolio, introduced the utility bill payment feature across the Bank’s Cash Recycler Machine ( CRM) network, automated monthly utility bill settlements via the ComBank website, and launched ‘ ComBankRemitPlus’ with a remittance agent funds management module and incentives for remitters, among others.

Additionally, Commercial Bank became the first bank in the country to accept digital signatures in 2021, relaunched its corporate website in all three languages, introduced prepaid as well as credit cards for corporate fuel purchases,and added features such as payments to government institutions, group payments and payments to the Employees Trust Fund (ETF) on ComBank Digital which is its omnichanneldigital banking application.