Commercial Bank receives its 10th ‘Bank of the Year’ award in London Featured

Published in Achievement
Pictured here is Mr Durairatnam with the Bracken presented to Commercial Bank by The Banker. Pictured here is Mr Durairatnam with the Bracken presented to Commercial Bank by The Banker.

Commercial Bank’s Managing Director/CEO Mr Jegan Durairatnam was in London earlier this month to accept the ‘Bank of the Year’ award presented by ‘The Banker’ magazine at a gala black-tie dinner at the Hilton London Bankside. This was the 10th time Commercial Bank has won this prestigious award, thus becoming one of the few banks in the world to achieve this feat. Widely considered the ‘Oscar’ of the global banking fraternity, the award is referred to as a ‘Bracken’ after Brendan Bracken, the founding editor of ‘The Banker’ in 1926 and Chairman of the Financial Times from 1945 to 1958. Winners of the Bracken are chosen on the basis of comprehensive data such as earnings, asset and Tier 1 capital growth, and returns on equity as well as evidence of setting new standards for their local industries, either by using new technology or coming up with innovative, cost-efficient ways of expanding their businesses.