commercial Bank Archives

April 24, 2024

The Commercial Bank of Ceylon has been named the ‘Best Bank in Sri Lanka’ for a remarkable 22^nd year in the ‘World’s Best Banks 2024’ list released recently by the US-based Global Finance magazine.

Global Finance said its Best Bank Awards recognise financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.

“The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success,” the magazine said. “Winning organizations managed their assets and liabilities in a savvy way in light of the fast-changing interest rate scenarios.”

The 2024 edition of Global Finance’s list of 28 Best Banks in the Asia Pacific region names Commercial Bank alongside leading banks of the calibre of CBA (Australia), China Construction Bank (China), HSBC (Hong Kong), ANZ (New Zealand), UOB (Singapore), Hana Bank (South Korea), MUFG Bank (Japan), and State Bank of India (India), which were adjudged the best banks in their respective countries.

These winning banks are to be honoured at an awards ceremony to be held during the IMF/World Bank annual meetings in Washington DC, on October 26, 2024.

Commenting on winning this prestigious accolade, Commercial Bank Managing Director/Chief Executive Officer Mr Sanath Manatunge said: “The last financial year saw the Bank achieve several milestones in performance and break new ground in sustainability, digitisation and initiatives to help SMEs and women entrepreneurs build their businesses. All of this was achieved while managing volatility in the market, and we have ended the year stronger, with our market leadership positions intact. This award is an excellent tribute to the strength and determination of the Commercial Bank team that made this possible.”

The largest private sector bank in Sri Lanka with Group assets of Rs 2.656 trillion, deposits of Rs 2.148 trillion, a loan book of Rs 1.296 trillion and gross income of Rs 341.566 billion as at 31^st December 2023, Commercial Bank was also the biggest lender overall, to the country’s Small & Medium Enterprise (SME) sector in 2023. The Bank continued to be the benchmark private bank in Sri Lanka with the highest market shares among private sector banks in deposits, loans, total assets, market capitalisation, gross income and total capital base.

In selecting the World’s Best Banks for 2024, Global Finance considered factors that ranged from the quantitative objective to the informed subjective. Objective criteria included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry. Award winners were selected by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.

A full report on the Best Bank selections will be published in the May issue of Global Finance, with winners chosen in over 150 countries across Africa, Asia-Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe. This report will also feature selections for the Best Islamic Financial Institutions and the World’s Best Banks by Region. In addition, Global Finance will announce the Best Banks in the US Region shortly.

Founded in 1987, Global Finance has readers in 193 countries, territories and districts, and a circulation of 50,000 that reaches chairpersons, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance is headquartered in New York and has offices in London and Milan.

The largest private sector bank in Sri Lanka, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the country’s first 100% carbon neutral bank, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

April 19, 2024

The Commercial Bank of Ceylon has announced the integration of the Department of Commerce (DOC) with ‘ComBank Digital’ enabling online payments for services via LankaPay.

As a result, businesses or individuals can now make secure real-time online payments for services such as registration of exporters, issuance of certificates of origin and other facilities offered by the Department of Commerce.

The online payment option can be accessed on www.combankdigital.com and its iOS, Android or Huawei mobile applications. The platform is secured with industry-level security standards to provide a convenient, swift and safe digital banking experience to users wherever they are, the Bank said.

Customers simply have to login to the platform and select the ‘Bill payment’ section on the platform, select ‘Department of Commerce’ and make their payments. Once a payment has been successfully completed, the customer can download a cyber-receipt as payment confirmation.

As this is a paperless process that does not require customers to visit a bank branch or the Department of Commerce office, it further contributes to the sustainability initiatives of the Bank and enables customers to be more environment-friendly, the Bank said.

“The addition of the Department of Commerce to the ComBank Digital platform is just one step in our roadmap of updates and features, which are designed to offer seamless and personalised banking experiences for our Retail, SME and Corporate customers,” Commercial Bank’s Assistant General Manager – Digital Banking Mr Pradeep Banduwansa said. “With more than a million users already on the platform, these updates can make a very tangible contribution not only in terms of convenience but in encouraging pro-planet practices.”

ComBank Digital already enables payments to government authorities such as the Import and Export Control Department (IECD), the Inland Revenue Department (IRD), Sri Lanka Ports Authority (SLPA) for cargo, vessel, and entry permit payments, Sri Lanka Customs, Employees Provident Fund (EPF), Employees Trust Fund (ETF), Board of Investment of Sri Lanka (BOI), and the Sri Lanka Standards Institution (SLSI). These payments are routed through the LankaPay Online Payment Platform (LPPOP).

ComBank Digital is known as one of the top five financial apps in use in Sri Lanka, and was launched in 2020. The app has undergone numerous enhancements, and is now enabled for the Bank’s business clientele too. Positioned as Commercial Bank’s single omni-channel digital banking platform, it is powered by Fiserv, the US-based global provider of financial services technology.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank operates a strategically-located network of branches and 964 automated machines in Sri Lanka, is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

April 18, 2024

Visa, the global payment solutions company, honoured Commercial Bank of Ceylon for ‘Excellence in Launch of Affluent and Mass Corporate Card Variants’ at a Visa Commercial Solutions Client Forum in Colombo recently, in recognition of the Bank’s commitment to the introduction of Visa’s Corporate Card series in the local market.

The Visa Commercial Solutions Excellence award was presented by Visa Country Manager for Sri Lanka and Maldives Ms Avanthi Colambage and was accepted on behalf of the Bank by Deputy General Manager – Corporate Banking Miss Tamara Bernard.

Visa’s Head of Commercial and Money Movement Solutions – India and South Asia Ms Shruti Gupta and Head of Visa B2B Connect – Asia Pacific Mr Qinwen Xiao were among the senior representatives from Visa at the event, while Commercial Bank’s representation included the Bank’s Assistant General Manager – Corporate Banking Mr Sidath Pananwala, Senior Manager Card Centre Mr Asanka Krishan and officers of the Card Centre and Corporate Banking Department.

Commercial Bank recently launched Visa Signature and Visa Platinum Corporate Credit Cards in Sri Lanka for employees of corporates and other business entities. This new product enables corporates to manage expenses of employees, and the card is linked to a corporate credit card account of each company. These cards can be used by employees of corporates to pay anywhere in the world for travel, entertainment and other expenses authorised by their respective companies, and the Visa Signature Corporate Credit Cards also offer their users complimentary benefits such as lounge access at international airports, and other travel-related support.

Commercial Bank cards are the market leader in Sri Lanka. The Bank offers global credit card brands in the Silver, Gold and Platinum tiers and a variety of cards in the premium segment. The cards are equipped with ‘Tap ’n Go’ NFC technology and are backed by a strong NFC Point-of-Sale (POS) network. ComBank Cards offer an exciting array of promotions and offers across all categories and also offer the Max Loyalty Rewards scheme for selected card categories covering both credit and debit cards.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank operates a strategically-located network of branches and 964 automated machines in Sri Lanka, is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

Visa (NYSE: V) is the global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Visa’s mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. The Company believes that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.

April 4, 2024

Nearly 200 small and medium enterprises (SMEs) from all over Sri Lanka were recently provided an invaluable opportunity by the Commercial Bank of Ceylon, to exhibit and sell their products and services in Colombo, and to engage with customers at a unique SME Trade Fair.

The two-day fair at the Sri Lanka Exhibition & Convention Centre (SLECC), Colombo 1, saw the participation of SMEs from Jaffna, Batticaloa, Puttalam, Anuradhapura, Badulla, Kurunegala, Kandy, Ratnapura, Matara, Negombo, Kalutara and Colombo, as well as eight corporate entities that provide services to SMEs and the country’s agriculture sector.

Demonstrating the possibilities offered by technology, the Bank provided an opportunity for eight SMEs to exhibit their products via a digital channel developed by ComBank LEAP GlobalLinker, a platform developed by the Bank to help businesses access global markets using digital technology. A Mobile App for the LEAP programme was also launched during the inauguration of the event.

Signifying the importance accorded by the Bank to the event, the SME Trade Fair was inaugurated by Commercial Bank Managing Director/CEO Mr Sanath Manatunge, Chief Operating Officer Mr S. Prabagar and members of the corporate management with distinguished special invitees including Commercial Bank Chairman Prof. Ananda Jayawardane and IFC Country Manager Mr Alejandro Alvarez de la Campa, IDB Chairman Dr Saranga Alahapperuma and the President of the Institute of Certified Management Accountants (CMA) Prof. Lakshman Watawala.

The Bank said the SME Trade Fair and Exhibition not only provided an opportunity for SMEs to showcase their products to a wider audience, it helped them to find potential buyers, source new suppliers, study other similar products in the market and the prevailing market dynamics, and to meet exporters to make their products export-ready.

Additionally, the Bank had set up an Industry Helpdesk Industry manned by representatives of the Bank as well as government institutions such as the Industrial Development Board (IDB), Export Development Board (EDB), Sri Lanka Standards Institution (SLSI), Sri Lanka Sustainable Energy Authority (SLSEA), Central Environmental Authority (CEA) and National Engineering Research & Development Centre (NERD) and private institutions like Bureau Veritas and Safo Consultancy (Pvt) Ltd.to provide advice to exhibitors and visitors.

An Exporter Hub at the location was used to connect local producers with exporters to help strengthen export value chains under the Bank’s ‘Diribala’ Exporter Development Programme. The Bank said 12 large scale direct exporters volunteered to negotiate with suppliers, and over 30 local producers were given an opportunity to meet exporters with their product samples and get advice.

A novel element to the event was the participation of about 25 students of the School Entrepreneurship Club of Yasodara Balika Maha Vidyalaya, Gampaha, who exhibited their products, obtained valuable insights from experienced SMEs and utilised the networking opportunities with the exhibitors.

Three awareness programmes were conducted under the topics ‘Managing Business for Start-ups’ by the Deputy Director of the Central Bank of Sri Lanka Mrs. S.D.N.Chamindini; ‘Strategies for Business Resilience & Renewal’ by Master Trainer Mr Ismail Azeez; and ‘Sustainable Entrepreneurship’ by the Co-founder of Good Market Ms. Achala Samaradivakara.

This was the second SME Trade Fair organised by the Bank. The first was held in March 2022 at Diyatha Uyana on the same lines.

The largest private sector bank in Sri Lanka, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the country’s first 100% carbon neutral bank, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

April 1, 2024

Says partnership will enable Bank to lend more to SMEs, including those owned by women

The Commercial Bank of Ceylon has announced a collaboration with the International Finance Corporation (IFC) to build a Supply Chain Financing (SCF) strategy that will enable the Bank to lend more to Small and Medium Enterprises (SMEs) and establish itself as a leading SCF bank in Sri Lanka.

IFC has identified Commercial Bank as a strategic banking institution in Sri Lanka to take the position as a leading SCF bank, given its prominent presence in corporate and business banking and its strategically diversified branch network. Commercial Bank is also the largest lender to the country’s SMEs.

SMEs comprise more than 75 percent of enterprises in Sri Lanka and account for 45 percent of employment and 52 percent of the country’s GDP. However, access to finance is considered a key challenge many SMEs face, hindering their growth potential. This latest partnership with IFC will facilitate lending to these enterprises, including those owned by women, the Bank said.

Commenting on the Bank’s initiative, Commercial Bank Managing Director/CEO Mr Sanath Manatunge said developing supply chain financing will help the Bank expand its SME portfolios in a sustainable and risk-mitigated manner. “Although domestic and cross-border supply chain finance is considered a vital opportunity for Sri Lankan financial institutions, it is at an under developed stage,” he elaborated. “The limited capacity of banks and heavy reliance on collateral–based lending are among the key factors which have impacted the growth of SME businesses.”

IFC Country Manager for Sri Lanka and Maldives Mr Alejandro Alvarez de la Campa said: “Small businesses are an engine of growth in Sri Lanka, creating jobs and driving economic growth. Despite their significance, they often struggle to obtain the much-needed working capital for the businesses to survive and thrive. As a longstanding partner of IFC, we have worked alongside Commercial Bank of Ceylon over the years to ramp up access to finance for businesses. This latest partnership will help the Bank strengthen its supply chain financing, enabling it to serve more small businesses and improve their linkages to formal supply chains, paving the way for a better future for Sri Lankan SMEs.”

IFC has a strong track record of enabling access to finance to SMEs through supply chain finance programmes across the globe, and has successfully completed investment transactions and advisory projects with both large companies and financial institutions. IFC also offers comprehensive supply chain finance advisory services that help client financial institutions launch new or scale up existing supply chain finance programmes through market research, business model design, product development, sales process enhancement, technology set up, and credit and risk management.

Commercial Bank’s partnership with the IFC dates back to 2003. IFC has supported the Bank through multiple investments as well as with advisory support.

Commercial Bank is one of the three banks that received support from IFC through a $400 million cross-currency swap facility to help facilitate the imports of essential goods such as food, medicines and fertilizers. Additionally, IFC and Commercial Bank have joined forces to establish an early childhood development center in Batticaloa to help meet the demand for quality childcare services among employed parents in the Eastern Province of Sri Lanka.

In the sphere of sustainable financing, Commercial Bank has twice won IFC’s Climate Assessment for Financial Institutions (CAFI) award for recording the highest number of climate finance transactions in South Asia in a year.

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.

Sri Lanka’s first 100% carbon neutral bank and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank is a leader in digital innovation in the country’s Banking sector, and has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

March 26, 2024

The Commercial Bank of Ceylon won three Gold awards and two Silvers at the LankaPay Technnovation Awards 2024, reaffirming the Bank’s status as a frontrunner in payment technology innovation in Sri Lanka.

The Bank was presented the Silver in the ‘Overall Award for Excellence in Digital Payments’ in addition to being recognised as the ‘Most innovative Bank of the Year’ with a Gold award, and receiving the Gold awards for ‘Best Bank for Retail Payments’ and for ‘Best Mobile Application for Retail Payments via LankaQR’ for ComBank Q+ – the Bank’s QR Payments App. The Bank also won the overall Silver Award as ‘Best LankaPay Card Implementor of the Year.’

The Bank said these awards reaffirm the Bank’s supremacy and its pioneering products and services in the digital payments sphere.

Themed ‘Vision Beyond Borders,’ the LankaPay Technnovation Awards hosted by LankaClear (Pvt) Ltd., the operator of LankaPay national payment network, took place at the Shangri La Hotel, Colombo.

The Commercial Bank of Ceylon was the first bank in the country to enable its entire automated teller machine (ATM) network to acquire and process ATM transactions through the EMV (Europay, Mastercard and Visa) integrated circuit, and the first to activate its entire EMV chip card base(Debit and Credit cards) to perform secured EMV transactions through the LankaPay ATM network, making it possible for the Bank’s own cardholders to securely perform transactions using other bank ATMs connected to the LankaPay network.

Commercial Bank is also one of the first banks in Sri Lanka to have its point-of-sale (POS) network accept LankaPay-JCB (Japan Credit Bureau) co-branded cards issued under the national card scheme programme.

Organised by LankaClear (Pvt) Ltd., the operator of LankaPay national payment network, the LankaPay Technnovation Awards are Sri Lanka’s pioneering and only payment technology innovation awards. The initial shortlisting of institutions eligible for awards was carried out based on the performance of individual banks, non-banking financial institutions and Fin Tech service providers, against set criteria.

LankaClear is owned by the Central Bank of Sri Lanka (CBSL) and all Licensed Commercial Banks operating in the country. The company offers multiple solutions not only for the banking sector but also across all industries that are ready and willing to adopt or integrate the latest digital technology driving Sri Lanka toward an efficient, green, and paperless nation.

The largest private sector bank in Sri Lanka, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the country’s first 100% carbon neutral bank, Commercial Bank operates a strategically-located network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

March 21, 2024

March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Bank of Ceylon PLC, headquartered in Sri Lanka, integrated an AI-powered Annual Report Assistant (AIPARA) to their Annual Report 2023. It is probably the first of its kind.

This innovation addresses a perennial issue and makes reading annual reports a true joy. Gone will be the days when readers had to wade through pages to find information of interest and significance to them. Readers can now simply ask questions from AIPARA and obtain answers.

Commenting on Commercial Bank’s annual report journey, Mr. Sanath Manatunge, Managing Director/Chief Executive Officer of the Bank said that integrating AIPARA to the Bank’s Annual Report aligns perfectly with their ongoing investments in digital transformation, technological innovation, and data-driven decision-making. “We commenced our digital annual reporting journey more than fifteen years ago when we started presenting our annual report as an end-to-end HTML so that both human and machine readers could better discover, access and interact with our annual report”, he added.

Chairman of Smart Media The Annual Report Company, Dr. Vijith Kannangara elaborated on the Bank’s digital annual reporting journey. “Our three-decade-long relationship with the Bank and the resultant perfect understanding of our client helped us make this quantum leap in our superior value proposition to the Bank. AIPARA will also help balance the disparate imperatives of conciseness, comprehensiveness, and accessibility in disclosure practices. We also believe that this development will compel corporates to give due attention to providing quality content in their annual reports.

Questions to AIPARA need not necessarily be in perfect sentences. They can range from words like “Profit?” or “Chairman?” to phrases such as “SME initiatives” or “Top 10 shareholders?”, and even to elaborate questions prompting analytical answers. “Is the Bank’s capital under stress?” or “Is the impairment policy of the Bank prudent?”.

AIPARA of Commercial Bank can be accessed through the HTML annual report of the Bank at https://combank2023.annualreports.lk/

March 21, 2024

Conducts hybrid interactive session titled “Counting HER in, and Investing in HER”

The Commercial Bank of Ceylon’s initiatives to celebrate International Women’s Day 2024, also encompassed the Bank’s own female staff across the country with a special knowledge sharing session titled “Counting HER in, and Investing in HER.”

Organized by the Bank’s Women Banking Unit and the Staff Development Center (SDC) of the Bank, the event was intended to promote inclusivity, enhance potential, and foster growth among female staff members, the Bank said.

The event, in hybrid format with in-person and virtual attendance, comprised of a session at the Bank’s auditorium, with virtual access via MS TEAMS, ensuring participation from all parts of the island.

Speaking at the event, Commercial Bank Managing Director/CEO Mr Sanath Manatunge emphasised the Bank’s dedication to ensuring equal opportunities for all staff members, regardless of gender, and reiterated the Bank’s commitment to fostering a supportive and inclusive environment where all employees can thrive and succeed. Stressing the importance of recognising and investing in the potential of female staff members and acknowledging their contributions to the Bank’s success, Mr Manatunge said the Bank was already concentrating on female staff development and empowerment, and this programme was intended to motivate them further.

Commercial Bank Deputy General Manager – Human Resources Management Mr Isuru Tillakawardana also reaffirmed the Bank’s policy of promoting gender equality and creating pathways for career advancement for female employees.

A panel featured eminent personalities including Ms. Chathuri Munaweera, Chief Executive Officer/ Executive Director of AIA Insurance Lanka, Ms. Anika Williamson, Non-Executive Director of JAT Holdings and Ms. Ruvinika Ranasinghe, Founder/Director of Terapy Ayurvedic Tea, all of whom provided invaluable perspectives on women’s empowerment and leadership in the corporate sector.

The topics covered included building self-confidence, how to be successful in one’s chosen sectors and fields with professional ethics and networking, achieving work-life balance as working women and mothers, the need to be assertive and goal oriented, the importance of professional qualifications and how to be an inspiration to other career women.

The event concluded with a Question and Answer session and refreshments, providing an opportunity for attendees to connect, share experiences, and build a sense of community and support among female staff members.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

March 15, 2024

The Commercial Bank of Ceylon recently moved its Kegalle branch to a spacious new two storey building at the same location, designed to better serve customers in this bustling municipality.

The branch at No 186, Main Street, Kegalle, is a fully-fledged banking operation that also offers two Automated Teller Machines (ATM) and two Cash Recycler Machines (CRM) to provide round-the-clock digital services to customers.

The Bank said enhanced parking facilities have been added to the location. The branch provides Kegalle residents as well as entrepreneurs access to a versatile portfolio of products and services, including lending products such as personal loans, home loans, leasing facilities and pawning facilities, in addition to SME banking services and a range of savings products.

Pictured here are Commercial Bank Chairman Prof. Ananda Jayawardane flanked by the Bank’s Managing Director/CEO Mr Sanath Manatunge and Chief Operating Officer Mr S. Prabagar at the formal opening of the new building in the presence of members of the Bank’s senior and corporate management.

March 15, 2024

More than 200 women small and medium entrepreneurs (WSMEs) attended a knowledge sharing session organised and hosted by the Commercial Bank of Ceylon recently as part of the Bank’s celebration of International Women’s Day.

The event held at Waters Edge, was supported by ‘Anagi’ – the Bank’s portfolio of banking products and services exclusive to female customers.

The keynote speaker at the event was Dr Dilesha Perera – Co founder of La Vivente (Pvt) Ltd., while Dr Saranga Alahapperuma – Chairman of the Industrial Development Board (IDB) Ms. Nayomini Weerasooriya – Founder of Satynmag and Ms Sepalika Jayawardhana – Director – Regional Development at the Export Development Board (EDB) were the panelists. The presentations at the knowledge-sharing session covered industry insights, details and guidance on setting up an export business and dealing with local authorities for SME businesses. A question and answer session that followed saw the active participation of invitees.

Commercial Bank Managing Director/CEO Mr Sanath Manatunge, Chief Operating Officer Mr S. Prabagar, and senior, corporate management members were also present at the event, demonstrating the importance accorded by the Bank to women’s empowerment.

Commercial Bank’s Anagi Women’s Banking portfolio was designed in collaboration with the International Finance Corporation (IFC), under the IFC-DFAT Women in Work programme, using the latter’s expertise in increasing access to finance for women, an important but under-served segment.

The portfolio comprises of the ‘Anagi Women’s Savings Account,’ the ‘Anagi Business Loan for Women Small and Medium Entrepreneurs (WSME)’ Credit Cards and other products and services including non-financial benefits designed to contribute to the empowerment of women and to help expand their financial horizons.

The Anagi Business Loan for Women Small and Medium Entrepreneurs provides female entrepreneurs with loans for working capital or investment purposes. Available exclusively for female business owners and businesses with female business partners or directors, this scheme enables applicants to receive loans from Rs 2 million to Rs 250 million at competitive interest rates and with flexible grace periods.

Anagi accountholders are offered a branded ‘Members Only’ passbook and an Anagi shopping Debit Card with exciting year-long promotions. The Bank has also introduced a Personal Accident Insurance Cover of up to Rs. 500,000, free of charge, for Anagi accountholders who maintain an average balance of Rs 250,000 over a period of six months. Either a Statement Savings Account or a Passbook Savings Account can be opened, as preferred by the applicant.

Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World. The Bank is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector. Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

ComBank crowned ‘Best Bank in Sri Lanka’ by Global Finance for 22nd year

‘ComBank Digital’ links Dept. of Commerce for online payments with LankaPay

Visa recognises ComBank for excellence in the launch of Corporate cards

ComBank stimulates opportunities for SMEs with Trade Fair in Colombo

ComBank partners with IFC to develop Supply Chain Financing strategy

ComBank shines at LankaPay Technnovation Awards 2024

A revolution in the ComBank annual report reading experience

ComBank engages with female staff countrywide at Women’s Day event

ComBank opens newly built Kegalle Branch

ComBank celebrates Women’s Day with a knowledge sharing session for Women SMEs