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COMBank
soars into world’s Top 1000 Banks
Ranked
155th in the world on Soundness and 950th on Tier 1
Capital
 The
Commercial Bank of Ceylon has become the first Sri Lankan
bank to be ranked among the Top 1000 Banks of the World
on capital adequacy and soundness, achieving yet another
milestone in its chequered history.
The Bank’s entry into this prestigious list at
No. 950 is based on its Tier One Capital strength, which
is the most important benchmark for assessing the stability
of a bank. Equally if not more significant is that in
terms of Financial Soundness, the Commercial Bank has
performed even better by being ranked at 155th position
in the world.
Compiled by ‘The Banker,’ a premier magazine
for the world’s investment, retail and commercial
banking sectors, the list of Top 1000 Banks of the World
is headed by HSBC Holdings of UK, and has in its top
10, globally significant banks such as Bank of America,
Citigroup, Mitsubishi UFJ, Credit Agricole and other
leading names.
“Having a Sri Lankan bank in the Top 1000 is a
noteworthy and timely achievement for Sri Lanka’s
banking industry,” Commercial Bank’s Managing
Director Amitha Goon
eratne
said. “Comercial Bank has always focused on getting
its fundamentals right, even in the most difficult macroeconomic
conditions, and this has been one of the cornerstones
of our stability.”
“These are challenging times even for the major
financial institutions of the world. The adequacy of
capital to support the assets, thereby ultimately offering
greater protection to depositors, is becoming even more
significant in the present turbulence in financial markets
which has not as yet had much of an impact on Sri Lankan
Banks. Of course, Sri Lanka has largely avoided this
contagion mainly due to the prudent policies on capital
transfers and supervision of banks exercised by Central
Bank” Mr. Gooneratne said. “Some recent events
in our country have led people to be more conscious
about the reputation and the integrity of financial
institutions that they deal with. This ranking re-affirms
our stability and would therefore be important to our
customers and a matter of pride for our staff.”
According to “The Banker” Report, Commercial
Banks Assets amounted to US $ 2,469 million and based
on Assets, the Bank is ranked at No 948th out of this
1000.
The Top 1000 rankings are compiled from a database of
over 5000 banks worldwide and are widely recognized
by the global financial community as the definitive
guide to bank rankings and analysis. Begun in 1970,
The Banker Top 1000 Banks of the World ranking is used
all year round by senior bankers, corporate treasurers,
corporate financiers, the professional services community
and many more.
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