The Commercial Bank of Ceylon being adjudged ‘The Strongest Bank in Sri Lanka in 2014’ by The Asian Banker, a leading provider of strategic intelligence on the financial services industry, the bank said in a media release.
“The key performance indicators assessed by the panel of international experts are the components of the financial strength that is the ultimate goal in Banking,” Jegan Durairatnam, Director and Chief Executive of Commercial Bank was quoted in the media release.
“This ranking reaffirms that Commercial Bank continues to get all its fundamentals right even in tough conditions.”
The award is based on a detailed and transparent scorecard that ranks commercial banks on six areas of balance sheet financial performance which is the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity. The Asian Banker Strongest Bank is an annual assessment of the financial and business performance of the commercial banking industry in the Asia Pacific region.
The assessment ranks the top performing banks in each country by strength, an evaluation that is based on a belief that a strong bank demonstrates long-term profit ability from its core businesses.
Ranked alongside Commercial Bank in The Asian Banker 500 as the strongest banks in their respective countries are Westpac Banking Corporation (Australia), Janata Bank (Bangladesh), China Construction Bank Corporation (China), HDFC Bank (India), Sumitomo Mitsui Financial Group (Japan), Maybank (Malaysia), ANZ Bank New Zealand (New Zealand), MCB Bank (Pakistan), DBS Group (Singapore), Shinhan Financial Group (South Korea), Cathay United Bank (Taiwan) Siam Commercial Bank (Thailand) and Standard Bank Group (South Africa).
Commercial Bank operates 238 branches and an ATM network of 600 terminals in Sri Lanka.