COLOMBO: The Bank of Ceylon (BOC) scored its third “Trillion” at the end of the year 2016. That is surpassing the Rs. One trillion mark in advances- another unique milestone in its 77-year journey as “the Bankers to the Nation” and becoming the first, and up to now the only bank to pass this milestone in Sri Lanka, BOC said in a press release.
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. Then by 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.
“Being a state owned Bank and 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 organizations 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. I wish to thank our customers, dedicated staff including those who have retired from the service for their contribution and all other stakeholders at this juncture,” Chairman Bank of Ceylon, President’s Counsel Ronald C. Perera said.
Currently the Bank maintains 628 branches, 689 ATMs and 123 CDM network and 15 Regional loan centers within the country. Considering the importance of customer interfaces the bank has upgraded many of its key branches with “SmartZones”- a 24-hour digital banking self-serving lobby and even converted Tissamaharama, Kekirawa and Kilinochchi, branches as “Green Branches”.
“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,” he General Manager Mr. D. M. Gunasekera said.
BOC won the merit award for Annual Report 2015 under state owned enterprises category at the Excellence in Integrated Reporting Awards – 2016 conducted by the Institute of Certified Management Accountants of Sri Lanka. “Asia’s Best Employer Brand” awards organized by Employer Brand Institute endorsed the BOC as one of those classed as a “Best Employer Brand” for the year 2016.TheBank of Ceylon maintains international presence with three overseas branches and a subsidiary in London.
