COMBank ‘Best Local Trade Bank in Sri Lanka’

The Commercial Bank of Ceylon has won yet another international accolade, the latest from the UK based Trade Finance magazine which has adjudged the Bank the ‘Best Local Trade Bank’ in Sri Lanka.

The award presented to the Bank at the Trade Finance Magazine Awards for Excellence 2009 in Hong Kong was based on an independent poll.

A strong network of agents and correspondents backed by high Capital Adequacy were among the factors considered for Commercial Bank to be singled out as the best trade bank among all Sri Lankan Banks, the Bank said. Trade Finance introduced the ‘Best Local Trade Bank’ title for the first time this year although the Awards for Excellence have been running for 10 years.

“Our main strength in Trade Finance comes from nearly 100 years of experience and a strong tradition in serving the main exporters and importers of our country,” said Commercial Bank’s DGM - International Jegan Durairatnam.

“This has naturally given staff high levels of exposure to the different types of problems and situations that confront customers, enabling us to offer a truly professional service to the largest as well as the smaller customers.” He said that Commercial Bank’s skills have been supplemented by a strong network of branches, agents and correspondents in all major markets of the Bank’s customers and in the financial centres of the world.

“This recognition is a great honour for the Commercial Bank since it was achieved amidst turbulent economic conditions.” Durairatnam said, “We are thankful to Trade Finance for conducting such a ranking, as it is important for people to know the strength and stability of the best banks of the world.”