Business
FinanceAsia crowns ComBank as Best Bank in Sri Lanka for 12th year
The Commercial Bank of Ceylon has been adjudged the Best Bank among Sri Lanka’s domestic banks by FinanceAsia, considered the world’s foremost information source on the Asian financial markets.This prestigious accolade was conferred on Commercial Bank at the 27th FinanceAsia Country Awards gala at the Ritz Carlton in Hong Kong on 28th June. Notably, Commercial Bank was the first Sri Lankan bank to be honoured at these awards and has won the Best Bank award 12 times.
Other Country Award winners ranked alongside Commercial Bank as the Best Banks in their respective countries at this year’s FinanceAsia awards were CICC (China), HSBC (Hong Kong and South Korea), CTBC (Taiwan), and Allied Bank (Pakistan).
Commenting on the Bank’s consistent success in the FinanceAsia Country Awards, Commercial Bank Managing Director /CEO Sanath Manatunge said: “Sector-leading financial performance is, of course, fundamental to the Best Bank award, but what makes this award particularly significant is that it looks beyond the figures to assess factors like strategy, customer service, business development, ESG compliance and customer centricity. Winners are therefore institutions that did not compromise on quality to improve financial performance.”
Assessments for the FinanceAsia Best Domestic Bank awards covered the performances of banks in 2022, a period the magazine said was impacted by supply chain woes, energy disruptions, geopolitical tensions, interest rate hikes and uncertainty.
“The FinanceAsia team invited banks, brokers and ratings agencies to showcase their capabilities to support their clients as they navigated these uncertain economic times. Our awards process celebrates those institutions that showed determination to deliver desirable outcomes, through display of commercial and technical acumen,” FinanceAsia said.
Among the factors that contributed to Commercial Bank’s victory was its achievement of the highest asset base, highest deposit base, largest lending portfolio, highest net profit, and highest gross income among private sector banks in Sri Lanka in the year assessed, as well as its recording the best CASA ratio among all banks in the country, and its position as the bank with the highest market capitalization on the Colombo Stock Exchange (CSE).
The Bank was also recognised for its market position in terms of having the highest market share of deposits, loans and total assets among private sector banks, the Bank’s sustainability initiatives in 2022, deployment of technological innovations for customer convenience, its support to small and medium enterprises (SMEs) via lending and knowledge base building, and its efforts to advance its vision and strategy.First published in 1996, FinanceAsia provides readers with the latest financial trends, interviews, features and investigative reports.
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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