Business
CPM ranks ComBank in Top 10 for ‘Best Management Practices’ in COVID hit 2020-21
The Institute of Chartered Professional Managers of Sri Lanka (CPM) has ranked the Commercial Bank of Ceylon among the 10 best managed companies in Sri Lanka in the two years affected by the global pandemic.
Sri Lanka’s benchmark private bank was recently presented one of the prestigious ‘Top Ten’ awards at CPM’s ‘Best Management Practices Company Awards 2022’ themed ‘Back to Business in the New Normal.’
The institute called for applications from corporates in Sri Lanka inviting them to showcase their best management practices which demonstrate resilience in bringing their respective organisations back to business during 2020 or 2021. CPM required applicants to present a desk review of the synopsis of the novel and value-adding best practices during these years, followed by a presentation to a panel of judges. Both were considered when selecting the Top 10 companies.
The synopsis Commercial Bank submitted outlined the stand of the Bank before the pandemic-necessitated management practices were implemented, the innovative practices that were executed thereafter, their contribution towards revitalising the business, and the measurable outputs and outcomes among others aspects.
Some of the best HR practices the Bank listed in its submission included adapting alternative work arrangements and providing food, lodging and transport for all mission-critical staff throughout the lockdowns to ensure continued banking operations; assembling alternative operational sites equipped with infrastructure facilities and IT systems with the support of the Bank’s IT, Logistics, and Premises and Business Continuity Management units; and communicating with employees via an automated call-tree system.
Commercial Bank was also among the first institutions in the country to install permanent glass partitions at branches and was proactive in the early acquisition of personal protective equipment for employees.
The Bank’s best IT operational practices include identifying an industry-leading remote access solution to facilitate remote working for its Sri Lanka, Bangladesh and Maldives operations, and providing 180 simultaneous voice call channels for its Card Centres and Digital Banking Call Centres to cater to the increase in call volumes during the lockdowns.
In SME lending, Commercial Bank introduced a new SME Credit Scoring Model with a simplified evaluation process and continued to improve service delivery standards by further developing digital tools.
These best practices resulted in impressive growth in business volumes and financial indicators for Commercial Bank in both 2020 and 2021, even as the Bank continued to enhance its customer relief programmes to emerge as the leading lender for COVID-19 relief among private sector banks in Sri Lanka. Additionally, the Ministry of Finance confirmed that Commercial Bank was the biggest lender to Sri Lanka’s SME sector in 2020 among all state-owned, private and specialised banks in the country.
Apart from recognising novel and value-adding best management practices that have evolved from among Sri Lankan organisations, the CPM’s awards forum fills the lacuna that prevails in the sphere of literature on best management practices in the country. The platform enables organisations to showcase their best management practices to the country’s business community and be duly rewarded for such worthy efforts, particularly under the prevailing business and economic conditions.
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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