Bank of Ceylon notches a Trillion, three years in a row

Bank of Ceylon scored its third “Trillion” at the end of the year 2016,surpassing the Rs. One trillion mark in advances, another unique milestone in its 77 year journey.

The BOC becomes the first and up to now the only bank to pass this milestone in Sri Lanka.

“Being a key player in financial mechanism in the country every achievement of ours gets directly translated into country’s economic development. Being in line with the government initiatives towards Sri Lanka’s economic progress, we have managed a diverse lending portfolio that encompasses of almost all public and private organisations on different scales of operation and individuals from all walks of life.For the Bank it is always not the highest profit margin that matters, but always to look into sustainable growth of both the customer and the bank. Therefore, this announcement speaks of investment made in developing businesses and the people of this country,” Bank of Ceylon Chairman Ronald C. Perera said.

“Passing the Rs.One trillion target in advances is an overwhelming achievement. This is proof that we have improved our operational versatility and effectively managed requirements of our customers. In recent years we have managed to become the highest profit earning single business entity in the country. Our asset base now stands at an astounding Rs.1.6 Trillion and our deposit base has improved up to Rs. 1.2 Trillion. The Bank of Ceylon is everybody’s Bank where we cater to Micro, SME, Corporates and Individual customers in the country.” General Manager D. M. Gunasekera said.

The Bank’s balance sheet has expanded at an impressive scale since its first “Trillion” target was achieved in 2012 by accumulating over Rs. one trillion assets in the Bank’s balance sheet ,becoming the first business entity in the country to do so.

In 2015 the Bank fully justified the trust placed in it by the public by announcing its second “Trillion”- Rs. One Trillion deposits. The Bank of Ceylon has been striving towards these big goals whilst maintaining itself as the largest contributor to the national economy in so many different ways.

Moving onto implementing government-backed initiatives on catering to the unbanked segments in the country and building their confidence in the banking industry BOC has led many projects such as “SamataGinumak”, Branch on Wheels, “BOC Mithuru” and many other financial inclusion programs. Many of these programs looked into entrepreneur development, women and youth development.

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