Commercial Bank of Ceylon

Not to be confused with Bank of Ceylon.
"ComBank" redirects here. For the Australian bank, see Commonwealth Bank.

Commercial Bank of Ceylon PLC
Company typePublic
CSE: COMB.N0000
ISINLK0053N00005
IndustryFinancial
Founded1920 as Eastern Bank Ltd. 25 June 1969; 55 years ago (1969-06-25) as Commercial Bank of Ceylon Ltd
Headquarters
Colombo
,
Sri Lanka
Number of locations
271 branches (934 ATMs) (2024)
Area served
Key people
  • Sharhan Muhseen (Chairman)
  • Raja Senanayake (Deputy Chairman)
  • Sanath Manatunge (CEO)
RevenueIncrease LKR280.387 billion (2022)
Increase LKR136.637 billion (2022)
Decrease LKR24.399 billion (2022)
Total assetsIncrease LKR2,499.554 billion (2022)
Total equityIncrease LKR212,973 billion (2022)
Owners
Number of employees
5,121 (2022)
Subsidiaries
  • Commercial Development Company PLC
  • CBC Tech Solutions Limited
  • CBC Finance Ltd.
  • Commercial Insurance Brokers (Pvt) Ltd.
  • Commex Sri Lanka S.R.L. Italy
  • Commercial Bank of Maldives Private Limited
  • CBC Myanmar Microfinance Company Limited
Websitewww.combank.lk
Footnotes / references
[1]

Commercial Bank of Ceylon PLC (CBC) also known as ComBank is a licensed commercial bank in Sri Lanka and its ownership is private. It was incorporated as a public limited company and it is listed on the Colombo Stock Exchange. It is regarded as the largest private bank in Sri Lanka in terms of net worth and capital.[2] The bank is currently the third largest bank in Sri Lanka in terms of total net assets and it lies behind only Bank of Ceylon and People's Bank (both are state commercial banks). It is also the only private sector licensed bank in Sri Lanka to be designated as the higher-tier domestic systemically important bank according to the Central Bank of Sri Lanka.[3] The bank currently operates a network of 268 branches and around 932 ATM machines across Sri Lanka.[4]

It became the first Sri Lankan bank to be listed in among the top 1000 banks in the world according to The Banker when it achieved the feat for the first time in 2008. Commercial Bank has also been ranked among the top 1000 banks in the world for nearly 11 successive years from 2008 to 2021.[5][6]

It is considered as one of the most systemically important banks in Sri Lanka. It is the largest lender to Sri Lanka's Small and Medium Enterprise sector.[7] The Ministry of Finance of Sri Lanka revealed that the Commercial Bank of Ceylon was the biggest lender to SME sector for the year 2020 amounting to an estimated amount of 21.6 billion rupees which was 15% more than the second biggest lender to SME.[8]

  1. ^ "Annual Report 2022" (PDF). cse.lk. Commercial Bank of Ceylon PLC. Retrieved 10 March 2023.
  2. ^ "Commercial Bank | ComBank highest-ranked bank in latest LMD 100 rankings". combank.lk. Retrieved 17 April 2022.
  3. ^ "Sri Lanka trims systemically important banks in new D-SIB rule, capital buffers changed". EconomyNext. 23 December 2019. Retrieved 17 April 2022.
  4. ^ Nadeera, Dilshan. "Commercial Bank- StrEdge Advisory successfully complete a BPR project". Retrieved 16 April 2022.
  5. ^ "ComBank ranked among Top 1000 World Banks for 11th consecutive year". Adaderana Biz English | Sri Lanka Business News. 28 June 2021. Retrieved 16 April 2022.
  6. ^ "Commercial Bank | ComBank ranked among Top 1000 World Banks for 11th consecutive year". combank.lk. Retrieved 16 April 2022.
  7. ^ "Banking on SMEs". Print Edition – The Sunday Times, Sri Lanka. Retrieved 16 April 2022.
  8. ^ "ComBank becomes the biggest lender to SME sector in 2020 among all banks". Adaderana Biz English | Sri Lanka Business News. 19 August 2021. Retrieved 16 April 2022.