‘FinanceAsia’ ranks ComBank Sri Lanka’s Best Bank

The Commercial Bank of Ceylon has been adjudged Sri Lanka’s ‘Best Bank’ by Hong Kong based ‘FinanceAsia,’ one of the most eminent financial publications in the Region.

The publication’s latest rankings are based on the financial performance for the 2008/9 period and the evaluation includes criteria such as capital adequacy, liquidity and cost income ratios, pre and post tax profits, provisioning for possible losses, return on equity, strong network of branches, agents and correspondents, among many others.

FinanceAsia also considered the Bank’s total Assets, Loans and Deposits portfolio, vision and long term strategy, as well as its market position versus its nearest competitor.

“The selection criteria for FinanceAsia’s Best Bank ranking covers all key performance indicators of banking and it is therefore a honour to receive this Award,” said Managing Director of Commercial Bank, Amitha Gooneratne. “This is further acknowledgement that we have performed well in all key areas.”

FinanceAsia’s website has published the names of the Best Banks of the Region following its latest survey.

A detailed explanation of the reasoning behind the awards will be published in the July issue of the Magazine which is scheduled to be released on July 15.