Business
BOC once again ranked among world’s top 1,000 banks
Bank of Ceylon, Sri Lanka’s No. 1 Bank was once again ranked by “The Banker” UK magazine, among the world’s top 1,000 banks while becoming the only Sri Lankan bank to be included in the global list in an extremely challenging year.
With this year’s achievement the Bank of Ceylon completes unblemished 12th consecutive year with the country rank No.1 among the “Top Banks 1000 in the world”.
The Bank’s ranking by the prestigious Banker Magazine UK reconfirms its robust Tier.1 capital adequacy and asset base, which is testament to BOC’s resilience and success of strategies put in place to navigate through multiple headwinds caused by the unprecedented economic crisis and adverse operational environment in the country.
The ranking has been regarded as the primary source for global bank financial position and are widely used by vast majority of international organizations in their assessments of banks. Compiled annually from a database of over 5,000 banking entities from across the globe, The Banker Magazine’s Top 1,000 World Banks listing is widely regarded as the most comprehensive guide to a bank’s standing globally, which is used by majority of international organizations in their assessments of banks.
“Reviewed against a tightened monetary policy on the backdrop of unprecedented economic turmoil in the country, the ranking is a clear indication of BOC’s strong financial position and the measures undertaken by Bank of Ceylon to remain resilient by overcoming multiple challenges,” said President’s Counsel Ronald C. Perera, Chairman of Bank of Ceylon.
“Despite the adverse headwinds, the Bank has complied with regulatory capital requirements above the stipulated norms by maintaining the Tier I Capital Adequacy Ratio of 12.4% and Total Capital Adequacy Ratio of 15.4% for the year concern 2022. Similarly, BOC was also able to improve all the liquidity ratios given the positive market liquidity vibes conquered during the concerned year,” said Russel Fonseka, the General Manager of BOC. Expressing his views on the way forward with the Domestic Debt Optimizing (DDO) program which is underway, the BOC General Manager stressed the importance of taking this strategic route to establish the much needed economic stability and a stronger financial structure.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
