Bank of Ceylon, Lanka’s No: 1 Brand, No: 1 Bank
For the fifth consecutive year BOC achieves the
Status of No: 1 Brand in Sri Lanka – Brand Finance Lanka :
D. M. Gunesekera
|
Brand Finance Lanka, a part of the Brand Finance network, which is a
brand valuation and strategy company with its headquarters in the UK,
has published its Brands Annual publication recently and Bank of Ceylon,
Sri Lanka’s No. 1 Bank set a record for the first time in Sri Lanka by
becoming the No.1 brand in the country for the fifth consecutive year.
According to Brands Annual edition 2013, Brand value of Bank of Ceylon
has increased from Rs.15.19 billion to Rs.24.15 billion in the year
2013. This is a significant growth of 62% compared to the previous year.
Bank of Ceylon General Manager, D. M. Gunesekera stated that “our
brand promise is to serve the people of Sri Lanka. BOC serves the
banking and financial services sector since 1939, bank has constantly
succeeded in contributing to the growth of our nation and continues to
assist the development of the country and guiding our customers and
entrepreneurs to reach greater heights which makes Sri Lanka’s leading
bank, Bank of Ceylon the bankers to the nation.
Bank of Ceylon received global recognition last year as one of the
top 1,000 banks in the world, from the world’s premier banking and
finance magazine, “The Banker”.
The Bank has reached an exceptional milestone in 2012 by achieving
the highest profits among all organisations in Sri Lanka. Also BOC
became the first bank in Sri Lanka to reach a remarkable milestone by
achieving Rs. 1.0 trillion in assets in the year 2012. Bank passed yet
another milestone by successfully completing a USD $500 million bond
issue for the second time in April 2013 and it was oversubscribed 6
times.
Today it is the market leader in Trade Finance (with around 55%
market share), inward remittances (40% market share), NRFC deposits (32%
market share) and treasury operations (over 50% market share).
D. M. Gunesekera further stated that “the bank dominates Sri Lanka’s
financial services industry in all directions. Bank is also equipped
with a talented management team to take the BOC brand across the
country. The Bank has 10 million accountholders covering all parts of
the country. The penetration of the BOC brand is 50% of our population
and the bank has developed a strategy to penetrate more into unbanked
territories in the country by expanding its distribution network through
technology driven channels along with strategic marketing
communication”.
“BOC’s brand equity holds a very high value in the market. Sri Lankan
public in all corners of the country associate themselves with an
assurance from a pioneering state bank for their hard earned money.” |