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ComBank honoured with six awards by Indian Chamber of Commerce
The Indian Chamber of Commerce (ICC) recently honoured the Commercial Bank of Ceylon with six prestigious awards, two in respect of Sri Lanka and four for the Bank’s Bangladesh operation, joining the many international bodies that have recognised the country’s leading private sector bank with accolades this year.
The ICC recognised Commercial Bank as the ‘Best Bank in Sri Lanka’ and for ‘Best Performance on Risk Management’ among Sri Lankan banks, and presented Commercial Bank Bangladesh the awards for ‘Best Performance on Asset Quality,’ ‘Best Performance on Growth,’ ‘Best Performance on Risk Management’ and ‘Best Performance on Profitability.’
These awards were presented at the ICC’s Emerging Asia Banking Conclave and Awards in Goa, India in July, to recognise and reward banks in the seven countries that belong to the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) for extraordinary steps in the growth and spread of emerging Asian banking. The awards were presented on the basis of applications assessed by PricewaterhouseCoopers (PWC). Commercial Bank was the only Sri Lankan Bank to be honored at the awards ceremony.
Commenting on the recognition accorded to Commercial Bank by the Indian Chamber of Commerce, the Bank’s Chief Operating Officer S. Prabagar said: “The challenges faced by banks in the BIMSTEC countries as well as the expectations of customers and regulators, are fairly similar. Being assessed by a panel of eminent banking industry personalities from the region is therefore of particular value, and we are extremely pleased to win the award for Best Bank in Sri Lanka as well as five Best Performance awards for our operations in Sri Lanka and Bangladesh.”
Focusing on the stellar role played by banks in promoting economic growth and using monetary policy as an engine of growth during the times of the pandemic and the post-pandemic war in Europe, the awards considered the best practices and innovative steps taken by banks to overcome the myriad challenges they faced in their operations. Innovation in payment systems, digital asset management, anti-money laundering, big data analytics, cyber compliance and regulatory compliance, empathy, financial health and guidance of their clientele were among the aspects assessed for the awards.
The awards jury comprised of stalwarts from the banking industry, and some of the quantitative factors considered for the awards presented to Commercial Bank included key financial indicators such as Total assets, Gross and net advances, Deposits, Total investments, Total interest earned, Profits, Operating expenses, Gross non-performing assets, Yield on investments, Liquidity coverage ratio and Capital adequacy ratio. Other aspects such as advances made towards renewable energy projects, energy efficiency improvement projects, pollution control projects, water conservation and treatment projects, waste management projects and forest regeneration projects, and CSR expenditure were also assessed.
Founded in 1925 and headquartered in Kolkata, the Indian Chamber of Commerce is one of the most proactive and forward-looking Chambers in India today. Its membership spans some of the most prominent and major industrial groups in India. Set up by a group of pioneering industrialists led by Mr G. D. Birla, the Indian Chamber of Commerce was closely associated with the Indian freedom movement, as the first organised voice of indigenous Indian industry.
Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 271 branches and 957 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 20 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
