The Commercial Bank of Ceylon has been declared the ‘Strongest Bank in Sri Lanka in 2020’ by the Asian Banker Magazine, based on the strength of its balance sheet. This accolade was presented to the Bank at a virtual plaque presentation ceremony on 25th February 2021 during which it was recognised as the strongest bank, with 50 places separating Commercial Bank and the second highest placed Sri Lankan bank. Commenting on this international ranking accorded to the Bank, Commercial Bank Managing Director Mr S. Renganathan said: “This award is a testament not just to our resilience, but to our ability to grow in the face of adversity. The Asian Banker award is based on a detailed and transparent scorecard compiled and analysed after an independent assessment of six areas of balance sheet financial performance – the ability to scale, balance sheet growth, risk profile, profitability, asset quality, and liquidity. The Asian Banker has been publishing its annual ranking of the Strongest Banks in the Asia Pacific region on the basis of balance sheet strength since 2007.

Source: The Nation February 25, 2021 13:00 UTC