Commercial Bank records progress in 2016
Commercial Bank announced the achievement of many milestones in service delivery during 2016 through operational developments that complemented its financial performance.
The Bank's branch expansion programme made it the largest private bank within Sri Lanka in terms of physical presence, with 256 branches and an ATM network of 658 terminals. Five new Automated Banking Centres were commissioned in 2016.
"We firmly believe that our focus on service delivery is one of the key pillars of our success and financial performance," said Jegan Durairatnam, the Managing Director/CEO.
The Bank installed 29 Cash Deposit Machines (CDMs) and 10 Cash Recycler Machines in 2016. The Bank also enabled the cardless withdrawal function across its ATM network country-wide.
Meanwhile, 10 Green branches were added to the Bank's network. There was a significant reduction in the use of paper in 2016 by adopting digital platforms such as mobile and online banking and the ‘e-Passbook.'
Commercial Bank branches were made more accessible to the differently-abled with the construction of 190 wheel chair ramps covering 75 per cent of its branch network.
The Bank ended 2016 as the first private bank in the country to surpass 1 trillion rupees in assets and had the largest deposits (739.5 billion rupees) and advances (633.3 billion rupees) portfolio in the private sector.
Commercial Bank improved its international presence by opening a fully-fledged Tier I Bank with a stake of 55 per cent in the Maldives and by launching its own money transfer operation ‘Commex' in Italy.