‘BOC profit soars to Rs. 16.5 billion; foreign remittances exceed $ 2.5 billion’

By Steve A. Morrell

Chairman, Bank of Ceylon Kanchana Ratwatte, at the bank’s new year celebrations yesterday said the bank’s profits amounted to Rs.16.5 billion at end 2020. He also said foreign remittances were in excess of 2.5 billion dollars.

The number of account holders of the bank was in excess of 1 million, indicating that the bank’s services were of benefit to every part of the country. The rural sector, inclusive of the farming community, was a growing customer base that benefitted from the bank’s services. Additionally, the SME sector, including entrepreneurs also situated in villages, was within the customer base who continued their dealings with BOC.

Additionally, the BOC was now operative in foreign locations, for example, the Seychelles, Maldives and Chennai, India, where its services were a growing phenomenon in the sphere of banking.

Yesterday’s celebrations included religious functions led by the clergies of the Buddhist Hindu, Catholic and Islamic religions. They extended their good wishes for the prosperity of the bank in the new year.

General Manager BOC P.K.Gunasekera confirmed the bank now had over 2000 branches throughout the country. He indicated that in most parts of the country account holders gained from the many services of the bank.

Ceremonies for the day also included opening of children’s accounts, which were a new innovation in the bank’s services.