Recent blog posts

More than 750 Sri Lankans resident in Bahrain were treated to a multifaceted entertainment show sponsored by Commercial Bank recently as part of its efforts to promote its remittance services in that country. The event included a 'Rataviru Star' programme and ‘Dream Star’ M. G.Dhanushka's musical programme. The Bank also used the opportunity to meet representatives of exchange companies and prospective customers for the Bank’s Exchange House in Bahrain and to market its remittance services. Pictured here (above) is one of the entertainers at the show and (below) a section of the audience at the event.

The Commercial Bank’s on-going initiative to promote entrepreneurship development across the country by empowering micro, small and medium enterprises with the knowledge they need to grow, was recently extended to Hingurakgoda, the largest division in the Polonnaruwa District.

Organised by Commercial Bank’s Hingurakgoda branch with the assistance of the Bank’s Agriculture and Micro Finance Unit (AMFU) in Hingurakgoda, the programme benefitted 125 agri entrepreneurs of the District by providing them with valuable information on developing their ventures. It was conducted in collaboration with the Central Bank of Sri Lanka (CBSL), and CIC Agri Business.

Officials of the Central Bank conducted a financial literacy development programme covering fund management,the difference between formal and informal sector borrowings, how to identify legal tender notes, the Central Bank’sloan schemes and characteristics of Pyramid systems. Representatives of CIC Agri Business coveredkey aspects of effective paddy cultivation by explaining hidden secrets of modern paddy cultivation, how to reduce the cost of cultivation, how to enhance yield, new paddy varieties, effective water management and time management.

Officials of Commercial Bank used the opportunity to introduce the Bank’s new ‘Divisaru’ Micro savings account to the participants, and with assistance of the bank`s Development Credit Department, to make them aware of the salient features of the products and loan schemas available under Development lending.

Among the senior representatives of the organisations involved in conducting the programme were Messrs Saneth Jayasundara, Commercial Bank’s Regional Manager – North Central, Aruna Wijesiri, Assistant Director of the Central Bank of Sri Lanka, Chamila Senanayaka, Assistant General Manager, CIC Agri Business and Elmo Sooriyaarachchi Senior Manager, Commercial Bank Development Credit Department.

The Commercial Bank has conducted similar programmes for SMEs and micro entrepreneurs in areas such as Narammala, Galle, Monaragala, Wellawaya, Badulla, Passara, Bandarawela, Welimada, Weligama, Koggala, Karapitiya, Matara, Batticaloa, Ampara, Kurunegala, Jaffna and Vavuniya in the recent past.

The Bank’s Agriculture and Micro Finance Units are located in Ratnapura, Narammala, Kandy, Anuradhapura, Kilinochchi, Bandarawela, Wellawaya, Hingurakgoda, Galewela, Atchuvely, Vavuniya and Tissamaharama. They identify and support people who need financial assistance for Agri/Micro businesses and provide guidance on how to improve their businesses and help resolve difficulties.

Photo Caption:
The Bank’s Hingurakgoda programme in progress.


Assets cross Rs 800 billion; Deposits reach Rs 549.1 billion; loans & receivables grow to Rs 498.5 billion

The Commercial Bank of Ceylon PLC has made a steady start to 2015, with profit after tax of Rs 2.509 billion for the three months ended 31st March, an improvement of 10.1% YoY.

A robust YoY growth in loans and receivables coupled with customary strong deposit growth and lower cost of funds contributed to this growth by generating net interest income of Rs 7.233 billion, an increase of 10.06%, Sri Lanka’s largest private bank said in a filing with the Colombo Stock Exchange.

Profit before VAT and NBT for the three months reviewed was up 7.88% to Rs 4.204 billion, while profit before tax at Rs 3.579 billion reflected an improvement of 8.77%, the Bank reported.

Total operating income, comprised of net interest income, commissions, foreign exchange income, recoveries and other income, increased by 8.84% to Rs 9.682 billion.

Total loans & receivables amounted to Rs 498.552 billion as at 31st March 2015, a growth of 19.13 per cent over 12 months. Total deposits grew by an average of more than Rs 6 billion a month since 31st December 2014 to reach Rs 549.111 billion at the end of the quarter reviewed. Deposit growth over the preceding 12 months was 16.28%.

Commenting on these results, Commercial Bank Chairman Mr Dharma Dheerasinghe said: “Commercial Bank’s performance in the first quarter is consistent with projections and reflects the inherent strengths of the Bank. There are several challenges that are common to most players in the banking sector, and in that context, the Bank’s figures are impressive.”

Commercial Bank Managing Director Mr Jegan Durairatnam said that the Bank was able to report a commendable growth in profits despite shrinking interest margins witnessed during the period under review.

Total assets of the Bank crossed the Rs 800 billion mark during the review period and stood at Rs 807.852 billion at the end of Q1.

Total expenses, including personnel costs, depreciation & amortisation and other expenses increased by 7.82% to Rs 4.148 billion.

In other key performance indicators, Commercial Bank improved its gross and net non-performing loans (NPL) ratios to 3.40% and 1.88% respectively from 4.40% and 2.54% a year previously. Interest margins continued to drop and stood at 3.66% as at 31st March 2015.The Bank’s Tier I capital adequacy ratio reduced from 12.93% to 12.14%, while total capital adequacy for the reviewed quarter reduced to 15.03% from 15.97%. These ratios however remain well above statutory requirements.

The Bank retained its position as the bank with the highest market capitalisation in Sri Lanka and the third largest listed entity overall in the period reviewed.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 242 branches and 610 ATMs in Sri Lanka. The Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

The Commercial Bank of Ceylon recently concluded a successful engagement with the customers and potential customers of Batticaloa via a ten-day promotional programme conducted by Varnam TV. As one of the sponsors of the programme, the Bank actively participated in a series of joint promotional activities,visited about 1,500 homes to create awareness about its products and services, and supported a special workshop for women on the final day of the programme. Pictured here is one of the interactions between representatives of the Bank and residents of Batticaloa.

The Commercial Bank of Ceylon has contributed towards an initiative of the Ceylon Chamber of Commerce to raise funds for disaster relief work in Nepal by the Asia Pacific Alliance for Disaster Management (APADM), a regional grouping of which the Chamber is a member. The APADM, which has also supported Sri Lanka during times of natural disaster, has already despatched a rescue team and established a Field Hospital in Kathmandu. Pictured here at the presentation of a cheque by Commercial Bank are (from left) Messrs JeevanPerera and Mahesh Rathnayake and Mrs PriyanthiPerera representing Commercial Bank’s CSR Trust, and MessrsMangalaP.B. Yapa – Secretary General/CEO of the Ceylon Chamber of Commerce, ChandrarathnaVithanage – Senior Assistant Secretary General, MrsAyoniWaniganayake – Senior Assistant Secretary General and MrsAlikiePerera – Deputy Secretary General of the Chamber.

Sri Lanka’s benchmark bank extends its commitments in education sphere with a ground breaking new web site

A new educational website that will bring the universe of knowledge closer to Sri Lankan children has been launched by the Commercial Bank of Ceylon as a community initiative that builds on the Bank’s on-going commitments on a national scale, in the spheres of IT literacy and online education.

A unique pilot project linking ‘Sipnena’ the new website, with 10 schools in diverse regions such as Jaffna in the north, Beliatta and Matara in the south, Minneriya, Kegalle and Kalawana in the North Central and Sabaragamuwa, and Nawalapitiya in the hill country, has been launched by the Bank as the first phase of this initiative.

Registered under the .lk and .com domains, and to be hosted free on the Microsoft Cloud by Microsoft Sri Lanka, the ‘Sipnena’ website will offer students free access to content carefully selected to support their educational needs, in line with local curricula, via the IT Labs donated by the Bank to these and 152 other schools around the country.

Commenting on this latest initiative by the Bank’s CSR Trust, Commercial Bank’s Managing Director/CEO Mr Jegan Durairatnam said: “Our objective is to create an environment that integrates technology as a natural part of the educational experience and provides all learners with the skills to access knowledge that will be a foundation for their future. As a bank that is ahead in technology and a pioneer in technological advancements, we are keen to give the same technological edge to our future generations.”

He said the launch of the ‘Sipnena’ Educational website is the logical progression of the Bank’s innovative online education programme, under which more than 60,000 children from 66 schools are currently accessing carefully selected mathematics and science lessons via a specially created web platform, to supplement their regular lessons in these subjects.

“We believe that the best resources should not be reserved for those who can afford them, but should be made available to everyone, everywhere, without cost. Using the power of the Internet, this goal is possible,” Mr Durairatnam added.

For the launch of ‘Sipnena’ the Commercial Bank has brought together the expertise of its own IT team headed by the Chief Information Officer; H-One, a leading IT Solutions company; Microsoft Sri Lanka, which has agreed to host the website on the Microsoft cloud free of rental; the Group Leaders of the Service Learning teams of the University of Colombo who will categorise the web-based lessons in accordance with the respective grades; and the Bank’s CSR Unit, which will coordinate the project.

Apart from providing cloud space for the ‘Sipnena’ website, Microsoft Sri Lanka will also join hands with the CSR Trust of Commercial Bank in the near future, to train school children by experienced trainers on industry based courses in Business Process Outsourcing, Agriculture and assisted services, Tourism/Hospitality, Apparel and Media and Journalism. Both Commercial Bank and Microsoft Sri Lanka are engaged in rural empowerment and Microsoft works closely with the Ministry of Education on a number of programmes to uplift IT Literacy, with a view to making Sri Lanka a future ICT hub in the region.

Speaking about the ‘Sipnena’ launch, the Country Manager for Sri Lanka and Maldives of Microsoft Sri Lanka Mr Imran Vilcassim commented: “Sipnena Online Links offer immense potential for increasing exam success, decreasing the cost of education, and providing expanded options for learning. Still, overcoming the public's conventional views on technology could be difficult. For instance, despite lots of media and industry buzz about the personalised nature of online instruction, the majority of teachers and parents still view traditional, classroom-based education as better tailored to each individual.”

H One (PVT) Limited, A Hirdaramani Group venture, is Sri Lanka’s leading full service IT solutions vendor, recognised as the nation’s No 1 ranked Microsoft Tier 1 partner, Large Account Reseller, Microsoft Dynamics partner of the year and Premier Cloud Accelerate partner, voluntarily contributed to this initiative and handled the designing and content management of the ‘Sipnena’ website. H One serves the largest number of Enterprise Agreement Customers and is the trusted IT partner of top enterprises in Sri Lanka.

Expressing his views on the Sipnena Educational Website, Mr Samath Fernando, Chief Executive Officer of H One said: “The Internet is even able to capture a lot of the same activities students partake in while learning in traditional classroom settings. For example, video-conferencing in real time allows students and teachers to interact visually, and chat rooms and message boards help build relationships, make it convenient for students to help each other, and improve a teacher’s accessibility. And these tools and classroom resources developed through Sipnena are always at a student's fingertips, so that they can view past lectures, pour over message boards, and interact with other students when it's convenient for them. This ensures that students never miss out on a lesson or lecture or fall behind, as class information and resources are available at all times online.”

Additionally, Headstart (Pvt) Limited will facilitate the usage of ‘guru.lk,’ an educational website developed by the company, which offers access to a wide range of subjects belonging to the local curriculum. ‘Sipnena’ learners will also be able to access the web content of thathu.com, the Khan Academy and free British Council English lessons.

The 10 schools participating in the pilot project for ‘Sipnena’ are Meewanapalana Maha Vidyalaya – Horana, Sri Parakrama Maha Vidyalaya – Aruggoda, Denagama Maha Vidyalaya – Hakmana, Beliatta, Nagalakanda Navodya Maha Vidyalaya – Minneriya, St. Thomas’ College – Matara, Jaffna College – Jaffna, Rambuka Maha Vidyalaya – Kalawana, Agamathi Balika Vidyalaya – Panadura, Hiriwadunna Maha Vidyalaya – Kegalle and St. Andrew’s College – Nawalapitiya.

The next phase of the project will include the installation of equipment such as LED TV screens and web cameras to provide video conferencing facilities, enabling teachers to carry out interactive teaching and learning sessions for the school clusters, the Bank said.

Education is given pride of place in Commercial Bank’s extensive portfolio of CSR initiatives, which also encompasses healthcare, culture and heritage, environment, assistance to war heroes, disaster relief and other community needs.

The Bank’s flagship CSR initiative of donating fully-equipped IT laboratories to schools across the country has to date donated 162 IT labs, and benefited more than 160,000 students. The schools are also provided accessories such as computer tables, printers and chairs, and the Bank provides assistance to maintain and upgrade these computer labs when necessary to ensure that the facilities benefit many batches of students.

Other initiatives of Commercial Bank’s CSR Trust in the sphere of education include presenting scholarships and laptops to undergraduates annually, providing English education to rural school children, and a project in partnership with Cisco Networking Academy to offer a comprehensive ‘IT Essentials’ course for teachers and students free of charge, via the Bank’s online Education programme.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 242 branches and 610 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo caption
Commercial Bank Chairman Mr Dharma Dheerasinghe, the Bank’s Managing Director / Chief Executive Officer Mr Jegan Durairatnam and Messrs Imran Vilcassim – Microsoft Country Manager for Sri Lanka and Maldives, Samath Fernando, Chief Executive Officer of H One and senior officials of the Bank at the launch of the 'Sipnena' educational website.

 

The Commercial Bank hosted a workshop on productivity improvement in medium and large scale coconut estatesin the Kurunegala District with the participation of more than 75 people in Kurunegala.

Organised by the Bank’s Kurunegala Branch and Development Credit Department with technical assistance of the Coconut Cultivation Board and Department of Animal Production & Health – Wayamba,the programme wasintended to enhance the knowledge of estate owners on coconut estate rehabilitation, the introduction of inter crops and promoting livestock (dairy farming) in coconut estates to increase productivity by maximum use of the space available between trees. The main objective of the programme was to create awareness of the available opportunitiesfor and underutilised resources in the area. It reasoned that increased profitability could provide a solution to coconut estate fragmentation which happens due to low productivity ofcoconut estates.

The bank has been conducting similar programmes in the past targeting main economic activities carried out by the people in different areas of the country. This programme targeted coconut cultivators who pay a vital role in Sri Lanka’s Agriculture sector by creating employment, supplying raw materials to coconut based industries andearning foreign exchange for the country.

Resource persons for the workshop included Mr. P C Obeysiryof the Department of Animal Production & Health – Wayamba and Messrs P S Senevirathne and H. M. M. J. Herath and Mrs. I. M. N. Ilankoon of the Coconut Cultivation Board.

An open forum held at the conclusion of the programme provided participants an opportunity to seek clarificationfrom the resource personnel.Representatives of the Bank provided participants with information on the ‘Kapruka Ayojana’ loan scheme, the Commercial Dairy Development Loan Scheme and other products and services offered by itsDevelopment Credit Department.

Pictured here are some of the participants in the seminar.

The Commercial Bank has completed the repairs to two sections of the steps to the summit of Sri Pada under a project undertaken by the Bank’s CSR Trust for the benefit of pilgrims.

The work began in 2014 and involved renovation of the steps between ‘Rathu Ambalama’ to ‘Golutenna’ on the stretch leading up to Seetha Gangula.

This was the second occasion that Commercial Bank undertook restoration of the pathway up Sri Pada as part of the Bank’s commitment to the nurturing of places of historic, cultural and religious significance in Sri Lanka. The Bank previously funded the reconstruction of the pathway between Seetha Gangula and Thenna in 2008.

Sri Pada is revered as a holy site by several religions and annually thousands of pilgrims climb the steps up this holy mountain to worship. It is of particular significance to Buddhists due to the belief that the foot print of Lord Buddha is imprinted on top of the mountain. The peak pilgrimage season is in April.

Preserving Sri Lanka’s cultural heritage is one of the focus areas of the CSR Trust of Commercial Bank. Two of the main projects it has completed in this sphere are the construction of a Museum at Kirivehera and the renovation of the lamp posts donated by the Bank to Dambulla Temple.

Pictured here are some pilgrims climbing to the peak of Sri Pada via the recently renovated steps.

The Commercial Bank of Ceylon has lent nearly Rs 250 million to small businesses and farmers in Sri Lanka’s northern region in the past four months, as part of a multifaceted on-going engagement to play a catalytic role in the economic and social resurgence of the area.

Combining the extension of banking services, capacity and knowledge building, promotion of digital banking and supporting community needs, the Bank’s efforts concentrating on the Northern area has seen its officials in a hands-on direct engagement with large numbers of existing and potential entrepreneurs both in the peninsula and the northern mainland.

In the latest connected activity, the Bank participated in a Programme for SMEs Development organised by the Central Bank of Sri Lanka. The main objective of the programme, held at the Divisional Secretariat of Mannar, was to create awareness among small scale entrepreneurs about the banking facilities available to them and to build a bridge between banks and entrepreneurs who are in need of financial assistance to expand their businesses.

Commercial Bank selected and interviewed 10 potential entrepreneurs from among the participants and invited the selected individuals to visit its Mannar branch to explore possible support for their business ideas. The majority of the participants were women engaged in the dry fish and garments businesses, the Bank said.

Loans granted over the past four months to entrepreneurs in the northern region included large agriculture loans totalling Rs 206 million, Rs 33.7 million as short term agriculture loans principally to paddy farmers, and micro loans amounting to Rs 3.6 million.

“Our activities in the north showcase the Commercial Bank’s commitment to partner and empower individuals and communities to improve their economic status and capacity,” said Mr Jegan Durairatnam, the Bank’s Managing Director. “They also exemplify the multiple roles the Bank can play in stimulating economic growth through direct engagements in several areas, including building financial literacy.”

Among the recent activities conducted by the Bank in the northern region were a seminar by the Bank’s Agriculture and Micro Finance Unit (AMFU) of Vavuniya and Mannar for 120 sea weed cultivators from the Silawathurai, Mutharipputhurai and Arippu areas; a week-long campaign to educate the public about the products and services offered by the Bank for remittances, and to raise awareness about the dangers of using illegal methods to receive money from overseas; an event in Jaffna to educate the public on the features and advantages of the Bank’s Mobile and Online banking products, and participation in the Jaffna International Trade Fair for the fourth consecutive year.

The Bank also opened its 241st branch in Sri Lanka at Chankanai in Jaffna during this period, further enhancing its presence in the Northern Province of the country.

In the sphere of community support, the CSR Trust of Commercial Bank donated equipment to the Sub Fertility Unit of Killinochchi Hospital and provided new computers to the IT Lab it had donated previously to the SOS Village Jaffna.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo caption:
(Above) Participants at the Central Bank organised event in Mannar for SME development and (Below) Commercial Bank staff promoting the Bank's remittance services in Jaffna.

 

Sri Lanka’s leading private sector bank launches unique short term ‘Millionaire’s Account’

 

A new, aspiration targeted investment plan that enables account holders to build up a minimum balance of Rs 1 million within a specific period without a high initial investment, has been launched by the Commercial Bank of Ceylon, the largest private sector bank in Sri Lanka.

The first savings product of its kind in the local banking sector, the ‘Commercial Bank Millionaire’s Account’ guarantees the depositor a balance of Rs 1 million or multiples of Rs 1 million up to Rs 10 million in three, four, five, or six years, depending on how much he or she is willing to deposit each month.

Designed principally to cater to a segment that needs to fast track savings for specific purposes such as the purchase of assets, children’s or own education orweddings, the new product is a flexible, easy to manage investment plan with a clear goal,that generates expected returns within a targeted period of time, the Bank said.

“To many salaried workers with day-to-day expenses, becoming a millionaire in three to six years may seem out of reach,” said Mr Chandana Gunasekera, Commercial Bank’s Deputy General Manager – Personal Banking. “With the Millionaire’s Account, we show how it can be done, with the support of Commercial Bank -- one of the country’s strongest and most stable financial institutions.”

“Some people save in an unplanned manner, with no target balance in mind, and deplete their savings when needs arise. Our new product encourages taking a structured approach that can be customised to suit the payment capacity of the depositor and the duration of his or her choice.”

Available to any Sri Lankan over 18 years of age, the Commercial Bank Millionaire’s Accountthat generates a balance of Rs 1 millionrequires a monthly deposit of Rs 25,000over three years, Rs 18,100 a month for a four year plan, Rs 13,950 per month for a five year plan and just Rs 11,225 a month for a plan maturing in six years.

Depositors who wish to raise more than Rs 1 million may increase their monthly deposit according to the number of millions they wish to raise, up to a maximum of Rs 10 million. Depositors can also nominate beneficiaries to receive the total amount invested in the event of their demise before maturity.

“We are very excited about the potential for this new product,” Mr Gunasekera added. “Most other investment options that offer above average rates of return require a high initial investment. With this new product, depositors can invest as they earn, and their monthly commitment will diminish in significance as their regular earnings increase over the duration of the plan.”

Commercial Bank ended FY 2014 with deposits of Rs 529.4 billion, following growth of Rs 78.3 billion or 17.34% over 12 months at an average of Rs 6.5 billion per month. The Bank’s assets stood at Rs 795.6 billion as at 31st December 2014.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Rs 2.5 billion dispensed on 10th April 2015 surpassing the previous highest per day amount of Rs. 2 billion

 

If withdrawals from the ATMs of Commercial Bank in the ‘Avurudu’ season are anything to go by, Sri Lankans celebrated their New Year on a grand scale in 2015, establishing new records for cash dispensed from the largest automated teller network owned by a single bank in the country.

The previous record of Rs 2.05 billionfor cash withdrawals in a single day set on 11th April 2014, was broken on Friday, 10th April 2015, when users of the Commercial Bank’s 610-terminal ATM network withdrew Rs 2.49billion, an increase of Rs 441 million.

In a record breaking 12-day run, the Bank’s ATM network dispensed Rs 17.2 billion between the 1st and 12th of April 2015, of which Rs 11.8 billion was dispensed over the seven days from 6th to 12th April, the Bank said. The number of transactions processed in the first 12 days of the month exceeded 2 million of which 1.3 million was during the peak week.

Commercial Bank’s two-day record for cash dispensed via its ATM network was also broken this year, with Rs 4.55 billion on the 10th and 11th of April 2015, beating last year’s two-day figure of Rs 4 billion. The average ticket size of a withdrawal on 10th April 2015was Rs 11,642, also higher than a year previously.

The Bank said that these statistics demonstrate the important role the Commercial Bank ATM network plays in the lives of millions of people in Sri Lanka, and reaffirms the value of the technology as well as the capacity, robustness and reliability of the Bank’s ATM network. These aspects are particularly important during peak shopping seasons such as the Sinhala and Tamil New Year and Christmas.

The Commercial Bank ATM network is the largest automated cash dispensing facility owned by a single bank in Sri Lanka.Holders of Commercial Bank’s standard ATM cum Shopping Debit Cards can withdraw up to Rs 40,000 from the Bank’s ATMs per withdrawal. The Bank also offers customers the option of setting their own ATM withdrawal limits up to a maximum of Rs 100,000 a day, and a point-of-sale limit of up to Rs 500,000.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 242 branches in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

The Commercial Bank of Ceylon supported the ‘Avurudu’ celebrations of ‘Ranaviru Sevana,’ the rehabilitation centre in Ragama for disabled war heroes, for the sixth consecutive year in 2015, enabling disabled soldiers to enjoy a day of fun activities by engaging in traditional games. In the picture (above) Commercial Bank’s Senior Regional Manager – Colombo Metro Mr Roshan Perera presents a gift to the winner of one of the events and (below) one of the events in progress.

Remittance customers of the Commercial Bank branch were hosted at a colourful‘Avurudu’ event that included partaking of the traditional meal, at the Bank’s Kiribathgoda branch recently. The event was part of the launch of the distribution of a special token of prosperity to the Bank’s remittance customers in the days preceding the Sinhala and Tamil New Year.

All customers who receive money through Bank’s own e Exchange remittance service as well as through international remittance services such as MoneyGram, Ria and Express Money will receive this special token of prosperity, which is a novel concept to add more flavour and glamour to the traditional New Year food table, the Bank said.

Commercial Bank’s DGM Personal Banking Mr. Chandana Gunasekere, AGM Operations, Mr. Palitha Perera, Chief Manager e Banking Mr. Pradeep Banduwansa, and other officials participated in the event, which included speeches about traditional Avurudu customs by the veteranartiste Mr. Sathischandra Edirisinghe and theBank’s Senior Manager and popular artiste Mr. Bandula Nanayakkarawasam. Pictured here are some of the scenes from the event.

The Commercial Bank of Ceylon recently extended its support to sea weed cultivators in the North West of Sri Lanka, as part of the Bank’s ongoing initiative to empower small and medium enterprises (SMEs) and micro entrepreneurs with the technical knowledge and financial literacy required to develop their businesses.

The latest programme organised by Commercial Bank’s Mannar Branch and the Bank’s Agriculture and Micro Finance Unit (AMFU) of Vavuniya and Mannar, benefitted 120 sea weed cultivators fromthe Silawathurai, Mutharipputhurai and Arippu areas. The programme was conducted with the assistance of Hayleys Aquagri (Pvt) Ltdand the Central Bank of Sri Lanka – Northern Regional Office.

Presentations were made by Mrs. Ranjini Vijayalan – Senior Manager, Central Bank of Sri Lanka - Northern Region (Financial Literacy) and by Dr. M. Shanmugam – General Manager, Research & Development at Aquagri Processing (Pvt) Ltd. and Mr. K. Sivaram – Head of Business Operations at Hayleys Aquagri.

Mr. Roy Nicholas, Commercial Bank’s Regional Manager Northern Region and Messrs Ruwan Rajapakse, Director, Hayleys Aquagri (Pvt) Ltd. and Prasanna Jayamaha – Executive Officer of the Bank’s Development Credit Department were among the special guests at the seminar.

The Bank also used the opportunity to introduce its new ‘Divisaru’ savings scheme to the micro entrepreneurs and participants,and with the assistance of the Bank’s Development Credit Department, to make them aware of the loan schemes available under Development Credit Lending.

TheMannar Sea Basin has been identified as anideal location for growing sea weed.Sea weed has high medicinal properties and is widely used to produce various types of medical products and food supplements. The high export demand for sea weed can generate substantial foreign income for the country.

The Commercial Bank has conducted similar programmes for SMEs and micro entrepreneurs in areas such as Narammala, Galle, Monaragala, Wellawaya, Badulla, Passara, Bandarawela, Welimada, Weligama, Koggala, Karapitiya, Matara, Batticaloa, Ampara, Jaffna and Vavuniya in the recent past.

The Bank’s Agriculture and Micro Finance Units are located in Ratnapura, Narammala, Kandy, Anuradhapura, Kilinochchi, Bandarawela, Wellawaya, Hingurakgoda, Galewela, Atchuvely, Vavuniya and Tissamaharama. They identify and support people who need financial assistance for Agri/Micro businesses and provide guidance on how to improve their businesses and help resolve difficulties.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 242 branches and 610 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo Caption:

Members of the head table at the seminar (from left) Rev. Father Denis Calistus, Parish Priest of St.Mary's church Arippu, and Messrs T. Thivaharan, Manager of Commercial Bank’s Mannar Branch, Ruwan Rajapakse, Director, Hayleys Aquagri (Pvt) Ltd., Roy Nicholas, Commercial Bank’s Regional Manager Northern Region, Mrs Ranjini V ijayalan, Senior Manager, CBSL, Northern Region and Dr M. Shanmugam, General Manager, Research & Development at Aquagri Processing (Pvt) Ltd.

Credit and Debit Card holders of Commercial Bank of Ceylon have once again been presented with an opportunity to save as they shop this Avurudu season, as a result of special discounts negotiated for them by Sri Lanka’s largest private bank.

Forty sevenpopular retailers of clothing, footwear, textiles, jewellery and perfumes are partnering with the Bank this year, offering discounts ranging from 10% to 25% on specific days between 27th March and 12th April.

Participating in this exclusive annual cardholder promotion from 27th to 29th MarchareAviraté, House of Fashions, Romafour, Saree Mandhir and The Factory Outlet (TFO); on 28th and 29th March – AndhumAndhum, Bata and Glitz; on 30th and 31st March – Double XL and Raja Jewellers; from 1st to 5th April – Be You Fashions, Brands Warehouse, Cool Planet, Fashion Bug, Nolimit&Pallu, LuvEsence and NewSriyani Dress Point; from 3rd to 5th April – Adidas, Hameedia, Planet Fashion, Signature, The Raymond shop, Crocodile, Emerald, Choice Park, Cloud 7, Diliganz, Dilly & Carlo, Genesis& Basics, Kids Land, Kreation, The Parfumerie and 7Stories Ranjanas; from 6th to 10th April – Beverly Street, BK Fashion, Kelly Felder, Mahanathi, Much More, Saman Mal and Spring & Summer, and from 6th to 12th April – Ashee Collection, CIB Shopping, DSI, Clarks, Reebok and Softwave Gallery Boutique.

Retailer participation this year is significantly higher and more varied than last year, the Bank said. As always, the Bank has made an effort to ensure an extensive choice of products and prices to cater to the needs of a wide cross section of credit and debit cardholders.

Commercial Bank cardholders also enjoy substantial discounts at 52 popular restaurants under the Bank’s“Dine and Smile” promotion till 10th April.

Discounts of this nature significantly enhance the benefits already offered by Comdeals, a programme which provides value addition to Commercial Bank cardholders through discounts at a number of major retail outlets in the country and 0% easy payment schemes for Credit cardholders. Commercial Bank cardholders are also eligible to participate in global promotions carried out by Visa and MasterCard.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Commercial Bank recently concluded a successful week-long campaign in the Northern region to educate the public about the superior products and services offered by the Bank for remittances,and to raise awareness about the dangers of using illegal methods to receive money from overseas. The campaign involved door-to-door visits in villages and residential areas and meeting people in populated places such as market places, bus stands shops, malls and schools, coveringan extensivearea from Vavuniya to Point Pedro.Pictured here are some of activities of the campaign.

The Commercial Bank of Ceylon actively promoted digital banking options such as Online and Mobile banking services to customers in the Jaffna peninsula recently.

An event conducted by the Bank in Jaffna recently was attended by more than 100 participants who were briefed on the features and advantages of the Bank’s Mobile and Online banking products.

“The rapid growth of business activities in the Jaffna Peninsula needs to be supported with state-of-the-art banking technology and services,” said Mr Pradeep Banduwansa Chief Manager e-Banking. “Commercial Bank is happy to be able to fulfill this need with its advanced digital banking services. Customers were extremely pleased with the presentation made to them on Mobile and Online banking. Many queries related to the services were sorted out and they are excited to use these services.”

The corporate version of Commercial Bank’s Online Banking provides the latest security enhancements for the benefit of corporate customers, such as two layer login; secure image upload were a user can upload a favourite image in to the Online banking portal so that it would be displayed when signing on, facilitating verification of the site prior to entering a password; and a virtual key board that gives the user the option to use an onscreen key board to avoid stealing of passwords.

Viewing images of deposited and presented cheques is also possible for users of this facility. This is the first time a Bank in Sri Lanka has enabled its customers to view images of their deposited and clearing cheques through an online banking platform. Registering of regular payment beneficiaries and executing payments to them 365 days of the year is also now possible. Submission of Letter of Credit applications with supporting document uploading too is possible. The Bank has also enabled a corporate administrator facility for companies to manage their internal user authorities as and when required, conveniently without having to contact the bank. The multilevel authorization module introduced for financial transactions is extremely convenient for corporate clients using this latest Online Banking facility.

The personal version of Commercial Bank’s Online Banking service already enables customers to apply for Fixed Deposits, Personal Loans and Housing Loans, check balances of their current, savings, investment, loan, and credit card accounts, and to transfer funds between own accounts and to registered third parties who have Commercial Bank accounts, on a real-time basis around the clock.

The Online Banking service also supports bill payments to more than 36 entities in nine categories such as Telephone, Electricity, Water, Credit Cards, Insurance, Pay TV, Schools and Rates.

The Bank’s Mobile Banking facility is operated on USSD (Unstructured Supplementary Service Data) technology to communicate with their service providers’ computers.

With its easy to access menu-driven portal, USSD based mobile banking offers greater convenience and functionality enabling users to carryout numerous banking transactions including Account Balance and Credit Card Balance Inquiries, Utility Bill Payments, Fund Transfers, Exchange Rate Inquiries, PIN Changes, Mobile Reloads and request Micro Statements.

Because these services are offered on the USSD platform, they can be accessed via any phone device ranging from a basic phone unit that is in the market and do not require an internet connection.

Additionally, Commercial Bank customers who use Apple and Android mobile devices are provided with a new level of convenience with the Bank’s mobile App. Offering both on and off line functionality, the App which can be downloaded free of charge enables users to conduct a wide range of transactions and view key information on their mobile phones 24 hours of the day.

Among the online features are a dashboard view for account inquiry and bank notifications sent via secure messages, credit card balance inquiry, bill settlement, current cycle of transactions and online payment history, inquiries on investments and loans, payments and online payment history, transfer of funds between own and registered accounts with online transfer history, and password changes.
The offline menu provides locations of Commercial Bank branches and ATMs, exchange and interest rates, general notices, a ‘Help’ feature and the ‘Contact us’ option.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank now operates a network of 242 branches and 610 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo Caption: 

(Above) Commercial Bank’s Chief Manager e-Banking & Remittances Mr Pradeep Banduwansa addresses the programme and (Below) Some of the participants at the programme.

More than 5000 customers enrolled for Commercial Bank’s Mobile and Online Banking service at a promotional event focused on the Bank’s Biyagama branch and the Biyagama Export Processing Zone recently.

In an event for corporate sector entities at the Biyagama EPZ,the Bank also conducted an awareness program on its latest Online Banking – Corporate platform at PT Gardens Hotel in Biyagama.

“Staff of Commercial Bank visited factories to communicate the benefits of both Online and Mobile Banking services. Customers who enrolled for these services were provided with hands on experience. The convenience offered by our Mobile and Online Banking services is extremely attractive. All it takes is a simple demonstration to convince customers to enroll for these services,” a Spokesperson for the Bank said.

The corporate version of Commercial Bank’s Online Banking provides the latest security enhancements for the benefit of corporate customers, such as two layer login; secure image upload where a user can upload a favorite image in to the Online Banking portal so that it would be displayed when signing on, facilitating verification of the site prior to entering a password; and a virtual key board that gives the user the option to use an on screen key board to avoid stealing of passwords.

Viewing images of deposited and presented cheques is also possible for users of this facility. This is the first time a Bank in Sri Lanka has enabled its customers to view images of their deposited and clearing cheques through an online banking platform. Registering of regular payment beneficiaries and executing payments to them 365 days of the year is also now possible. Submission of Letter of Credit applications with supporting document uploading too is possible. The Bank has also enabled a corporate administrator facility for companies to manage their internal user authorities as and when required, conveniently without having to contact the bank. The multilevel level authorization module introduced for financial transactions is extremely convenient for corporate clients using this latest Online Banking facility.

The personal version of Commercial Bank’s Online Banking service already enables customers to apply for Fixed Deposits, Personal Loans and Housing Loans, check balances of their current, savings, investment, loan, and credit card accounts, and to transfer funds between own accounts and to registered third parties who have Commercial Bank accounts, on a real-time basis around the clock.

The Online Banking service also supports bill payments to more than 36 entities in nine categories such as Telephone, Electricity, Water, Credit Cards, Insurance, Pay TV, Schools and Rates.

Based on Microsoft.net a leading technology framework, Commercial Bank’s Online Banking service offers exceptionally user-friendly menus, and benchmark security and encryption features.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 242 branches and 610 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo Caption:

(Above) Commercial Bank’s Chief Manager e-Banking &Remittances Mr Pradeep Banduwansa addresses the awareness programme in Biyagama and (Below) some of the participants.

 

 

The Commercial Bank of Ceylon has opened its latest branch in Sri Lanka at Batapola, extending the services of the country’s largest private bank to this southern town.

The Bank’s 242nd branch is located on the Kahawa Road at Mahawatte, Batapola, and is networked with the Bank’s branches island-wide, offering the full range of services to customers in the area.

The new branch is equipped with an automated teller machine that is linked to the 609 other ATMs of Commercial Bank in Sri Lanka, as well as to millions of ATMs of the MasterCard, Maestro, Cirrus, Visa, Plus, Amex, Discover and Diner’s Club networks worldwide.

The Batapola branch was formally declared open by Commercial Bank’s Deputy General Manager – Personal Banking Mr Chandana Gunasekera at the invitation of Mr Manoj De Silva, the Manager of the branch.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank now operates a network of 242 branches and 610 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo Caption:
Commercial Bank’s Deputy General Manager – Personal Banking Mr Chandana Gunasekera declares open the new branch at Batapola. The branch Manager Mr Manoj De Silva is also in the picture.

The Commercial Bank of Ceylon recently extended its support to 150 entrepreneurs of the Uva Province by providing them with valuable information on developing their businesses, through a special programme organised for them. The programme was jointly organised by the Bandarawela,Badulla and Welimada branches with assistance of the Bank’s Agriculture and Micro Finance Unit(AMFU) –Bandarawela.

The programme in Bandarawela was conducted in collaboration with the Central Bank of Sri Lanka (CBSL), and covered the topics ‘Improvement of agricultural product quality by applying key concepts of post harvesting technology, in relation to cut flower, vegetable and tea industries’ and ‘Possibilities of entering export markets in the above sectors.’

Entrepreneurs from the Tea, Floriculture and Vegetable sectors, nominated by the Bank’s Badulla, Bandarawela and Welimada branches participated in this programme.

MrSanathPerera, Regional Manager, Commercial Bank, Uva-Sabaragamuwa, MrD.M.D.B. Disanayaka, Provincial Manager – Kandy of the Central Bank of Sri Lanka and MrE.B.Sooriyaarachchi,Senior Manager, Commercial Bank Development Credit Department were the chief invitees for this programme.

Among the representatives of other supportive institutions were MessrsG.A. Gurusinghe, Deputy Director of the Agriculture Department, D.Perera, Deputy Director of the Export Development Board, S.S.S.Guruge, Assistant Commissioner of the Tea Board and I.V.Mohotti, Assistant Regional Manager of the Tea Small Holdings Development Authority.

The Commercial Bank has conducted similar programmes for SMEs and micro entrepreneurs in areas such as Narammala, Galle, Monaragala, Wellawaya, Badulla, Passara, Bandarawela, Welimada, Weligama, Koggala, Karapitiya, Matara, Batticaloa, Ampara, Jaffna and Vavuniya in the recent past.

The Bank’s Agriculture and Micro Finance Unitsare located in Ratnapura, Narammala, Kandy, Anuradhapura, Kilinochchi, Bandarawela, Wellawaya, Hingurakgoda, Galewela, Atchuvely, Vavuniya and Tissamaharama.They identify and support people who need financial assistance for Agri/Micro businesses and provide guidance on how to improve their businesses and help resolve difficulties.

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for four consecutive years (2011-2014), Commercial Bank operates a network of 241 branches and 609 ATMs in Sri Lanka. The bank has won multiple awards as Sri Lanka’s best bank over several years, and was adjudged one of the country’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014. The bank has been rated the Most Respected Bank in Sri Lanka by LMD for the past 10 years, has been the second Most Respected Corporate entity in the country overall for the past four years, and been rated No 1 in Sri Lanka for Honesty in 2013 and 2014 by the magazine.

Photo Caption:

BuddhikaSumanasekera, the Manager of Commercial Bank’s Bandarawela Branch presents a complimentary item to a participant in the programme.