UK’s ‘Global Business Outlook’ honours ComBank Sri Lanka and Bangladesh

The Commercial Bank of Ceylon has been declared the ‘Best SME Bank’ in Sri Lanka and the ‘Best Foreign Bank’ in Bangladesh in 2021 by the UK-based Global Business Outlook (GBO) magazine which recognises and rewards excellence in businesses around the world, across industries.

This is the fourth occasion that Commercial Bank has been recognised with awards by Global Business Outlook magazine. In 2020 the Bank was adjudged the ‘Best Commercial Bank’ in Sri Lanka and the ‘Best Foreign Bank’ in Bangladesh by the magazine.

Global Business Outlook Awards are presented to private and public sector businesses of all sizes that make their mark in terms of performance, innovation and drive to create industry value. They honour companies that perform in exceptional terms, create great value and achieve business edge and market recognition.

The ‘Best SME Bank’ award was presented to the Commercial Bank for its efforts in recognising the needs of the hour of small and medium enterprises in the country and for providing tailor-made products and services to cater to this segment.

Meanwhile, the ‘Best Foreign Bank’ award presented to Commercial Bank Bangladesh recognises growth achieved in new accounts, deposits and advances, services offered to corporate and personal banking customers, new products and the growth of the Bank’s Online Banking services in that market.

Despite stiff competition among international and large local banks, CBC Bangladesh has recorded a consistent growth in business especially by catering to multinationals and large local corporates by offering better services and commitment.

Commenting on these awards, Commercial Bank Managing Director S. Renganathan said: “We are delighted to receive awards for both Sri Lanka and Bangladesh. It is particularly pleasing to be recognised for our support to SMEs, specially during these pandemic-linked economic conditions which are very tough to navigate. Commercial Bank has consistently proved that it is with them in good times as well as bad. We are also elated to once again be adjudged the best foreign bank in Bangladesh, which is a very competitive market.”