The Bank’s accomplishments in trade finance are underscored by its performance related to key indicators including (trade) market share, turnover, revenue, credit facilities granted for trade, and trade loans obtained. Commercial Bank’s product innovations contributing to the award include the launch of a new Trade Finance product with the discounting of Usance (or differed) Domestic Letters of Credit and being instrumental in designing a digitalised-screening IT platform. All these factors contributed towards winning the ‘Domestic Trade Finance Bank of the Year’ award. Only products and services launched within the past year could be entered.The Asian Banking and Finance Wholesale Banking Awards programme was launched in 2012. Sri Lanka’s first fully carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 931 automated machines in Sri Lanka.

Source: The Nation August 09, 2021 10:18 UTC