The International Chamber of Commerce Sri Lanka (ICCSL), the Chartered Institute of Management Accountants (CIMA) announced the Country’s No.1 Bank, Bank of Ceylon as one of the “Top Ten Most Admired Companies in Sri Lanka 2020”.
The Bank was conferred this title for the second consecutive year for its excellence in the field of Banking and Finance in Sri Lanka and for its contribution to the overall economic growth of the country. Having completed 81 years of unwavering service to the Nation, Bank of Ceylon is said to be the highest profit earning single business entity in the banking industry of Sri Lanka. BOC takes greater responsibility in every possible way to assist the Government initiatives towards social and economic development. “Bank of Ceylon has always been in the forefront promoting economic and social wellbeing of the Sri Lankan community. Even during the adversities brought on by the COVID 19 pandemic, Bank of Ceylon has been resilient in its operation to ensure that it maintains an uninterrupted banking service on behalf of the Sri Lankan community and tending to its purpose as an economic value generator for all its stakeholders. We have always looked at sustainable growth as a win-win situation for all,” stated the Chairman, Kanchana Ratwatte.
Commenting on the achievement the Bank’s CEO and General Manager D.P.K. Gunasekera said, “We have underlying values and beliefs that always keeps us setting unprecedented records. That has kept us moving forward even during this adverse situation, whilst assisting many of our customers with financial relief to come out of this dire predicament. In the meantime, BOC maintained its strong position with regard to financial and operational strength. BOC’s asset base, which at Rs. 2.8 Trillion, is the highest owned by a single Sri Lankan business entity in the Banking Industry. It also has the highest valued loans and advances portfolio which is Rs. 1.9 Trillion and the highest deposit base Rs. 2.3 Trillion as at 3Q of 2020 held by a single business entity in the Sri Lankan Banking Industry.”
All organizations were shortlisted through a process that evaluated their performance that has gone beyond their profit making objective to actually create value for the valuing human relationships, commitment to foster teamwork, experiment frugally, fulfill commitments, Fight complacency and win through multiple means and social commitment.
The evaluation panel has also been keen on the organization’s commitment towards Good Governance in areas of top management commitment to, visionary thinking on sustainability, commitment to fulfill stakeholder interests and commitment to treat every stakeholder fairly and justifiably.
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