BOC named ‘Bank of the Year 2021 – Sri Lanka’
Bank of Ceylon, the premier financial services organization in Sri Lanka, was awarded the coveted title of “Bank of the Year 2021 – Sri Lanka” by The Banker Magazine U.K. at an event held in London recently.
The prestigious award is recognition of the Bank’s contribution to uplifting the lives of all Sri Lankans, while fulfilling its duty as the premier state bank.
This award adds yet another title to the multi-award winning bank that has been listed in the Top 1,000 Banks in the World ranking, consecutively since 2012, with a country ranking of No. 1 by The Banker magazine, UK, as well as being listed as the No. 1 Banking Brand in Sri Lanka by Brand Finance Lanka with a brand value of over Rs. 53 billion for the year 2021 – the highest ever brand value recorded by a banking institution.
Commenting on being able to achieve this feat despite the economic realities of the pandemic, General Manager of Bank of Ceylon, K. E. D. Sumanasiri says: “For over eight decades Bank of Ceylon has worked tirelessly to develop both the nation’s economy and the lives of our people. And, we are justifiably proud to have been named “The Best Bank of the year by The Banker Magazine UK. We thank the entire staff of the bank and our loyal customers who have contributed to us being honoured with this prestigious award.” Bank of Ceylon has been a true resilient leader in the banking industry in Sri Lanka as the front runner in Covid-19 relief efforts, economic revival programmes, and moratoriums, in line with the Central Bank policies, as the single largest lender to COVID affected businesses under the Saubagya Renaissance facility with Rs. 39.1 billion disbursed.
In its broader role as the premier bank in the country, Bank of Ceylon also established a dedicated unit for exporters, under the banner-Export Circle.
Despite a challenging year, Bank of Ceylon achieved yet another milestone in its asset base surpassing the Rs. 3 trillion level in the first quarter of 2021 and a growth of 20% during the nine months ended 30th September 2021, backed by a 23% rise in the loan book for the same period.
In addition, the bank’s loans and advances stand at over Rs. 2.5 trillion, with a deposit base of over Rs. 2.7 trillion, making Bank of Ceylon the largest and strongest banking and finance institution in the country.
“Bank of Ceylon has always been a bank of the people. When the world faced the Covid pandemic, Bank of Ceylon was at hand to offer financial relief to large, medium and small-scale businesses and entrepreneurs across the island. As a bank, we are committed to ensure that the nation and our people are able to rebuild their lives and rise up again,” added the Chairman of Bank of Ceylon, Kanchana Ratwatte.