Business
ComBank honoured as one of Sri Lanka’s 10 ‘Most Admired Companies’ for 5th year
The Commercial Bank of Ceylon has been ranked one of the 10 ‘Most Admired Companies in Sri Lanka’ by the International Chamber of Commerce Sri Lanka (ICCSL) in collaboration with the Chartered Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA).
This is the fifth occasion that Sri Lanka’s benchmark private sector bank has been formally named on this elite list, following a rigorous evaluation of quantitative and qualitative performance indicators.
Commenting on this significant tribute, Commercial Bank Managing Director/CEO Sanath Manatunge said: “While sustainable performance remains a primary factor in generating admiration for a corporate entity, we believe that the less quantifiable perception-driven qualitative aspects such as good corporate citizenship, environmental and social governance, ethical compliance and customer responsiveness are equally important. These are key focus areas for Commercial Bank, which is why we are greatly encouraged by the endorsement implicit in the Most Admired Companies award.”
Open to both listed and unlisted companies, the ICCSL-AICPA-CIMA Most Admired Company Awards recognise companies for their financial performance, and their ability to practice sustainable and ethical ways of business for their employees, customers, investors and the community. Companies selected for recognition undergo a stringent evaluation process that is based on globally-accepted criteria by a distinguished panel of judges. Companies that had been in business for over five years as of 30th June 2023 and are 30% or more of Sri Lankan ownership were eligible to enter the awards competition.
Also ranked Sri Lanka’s ‘Strongest Bank Brand’ as well as the ‘Most Respected Bank’ in 2023, Commercial Bank of Ceylon ended 2022 with total assets of nearly Rs 2.5 trillion, gross income of Rs 280 billion, a deposit base of Rs 1.9 trillion, a loan book of Rs 1.2 trillion and net profit of Rs 24 billion.
One of the highlights of the Bank’s performance in 2022 was the confirmation by the Ministry of Finance that it was by far the biggest lender to Sri Lanka’s SME sector in that year as well, accounting for one in every three loans granted by all state-owned, private and specialised banks in the country.
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.”
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