ComBank ranked Most Respected Bank in Sri Lanka for 19th successive year

The Commercial Bank of Ceylon has been ranked the Most Respected Bank in Sri Lanka and the fourth Most Respected corporate entity in the country overall in the 2023 ‘Most Respected Entities in Sri Lanka’ rankings published by the LMD magazine.

The largest private sector bank in the country, Commercial Bank was also ranked second overall across all sectors of business for Financial Performance and Honesty, and was ranked among the top five Sri Lankan corporates for Vision, Management Profile, National Perspective and Corporate Culture.

This is the 19th consecutive year that Commercial Bank was ranked the Most Respected Bank in Sri Lanka. The Bank has also been among the top five most respected entities in the country in every one of the annual surveys conducted by LMD since the launch of the ranking in 2005, earning Commercial Bank the 4th place in the magazine’s 2023 Hall of Fame of the country’s most respected entities.

Commenting on this latest tribute to the Bank, Commercial Bank’s Managing Director and Chief Executive Officer Mr Sanath Manatunge said: “Respect is central to corporate success. In financial services, a reputation for honesty and solid financial performance are indispensable elements. To achieve top rankings in these areas on the basis of votes cast by the general public and to be ranked as the “Most Respected Bank” for 19 consecutive years is a truly remarkable achievement.”

LMD uses a weighted ranking system based on the opinions of surveyed respondents. The ranking system operates by weighting three nominations for each company by assigning a weight of five points for the first mention, a weight of three for the second, and one for the third mention. The final rankings are based on the total sum value of the weighted scores for each company.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank operates a network of over 250 branches and 950 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.