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'Banking On You':
10 Mar 2013 21:06:02
Commercial Bank's expansion continues


Mar 10, 2013 (SLBO) - Sri Lanka's leading licensed commercial bank, Commercial Bank of Ceylon PLC (COMB) had Added 14 more branches to the branch network establishing Bank's presence in all districts of the country and had further added another 55 ATMs during the year ended 31, December 2012 to further strengthen its position as the single largest ATM network operated by a bank in Sri Lanka.

Bank's lately released annual report highlights that Commercial Bank had a total 227 delivery points or branches in Sri Lanka and further 17 branches in Bangladesh as at the end of 2012 compared to a 213 in Sri Lanka and 17 in Bangladesh in 2011. Further bank's number of Automated Teller Machines (ATMs) had increased from 500 in Sri Lanka to 555. Bank also has 17 ATMs in Bangladesh.

Subsequently, business volumes of the bank had grown by 18.68% in terms of Gross Loans and Advances, and 20.66% in terms of Deposit Base and 15.99% in terms of total assets.

According to the Annual Report bank has a staff strength 4,400 in Sri Lanka (4,329 in 2011) and 202 in Bangladesh (195 in 2011)whilst the total assets crossed the Rs. 500 billion mark during the financial year ended.

The Bank had the largest market capitalisation among all listed banking institutions in Sri Lanka and was ranked at No. 05 among all listed entities as at end of 2012 (No. 6 as at end 2011). Commercial Bank is the only Sri Lankan bank represented in the Top 1000 Banks in the world for two consecutive years (2011 and 2012) having first entered into the category in 2008, based on the annual ranking by UK-based 'The Banker' magazine, based on strength of Tier 1 capital, assets size, soundness, performance and profitability.