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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.”

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