The Commercial Bank of Ceylon has been crowned the ‘Best Bank in Sri Lanka in 2020’ by Euromoney, one of the world’s leading financial magazines, at its Asia Awards for Excellence. This is the sixth time that Commercial Bank has been honored with this accolade by Euromoney.
The Euromoney awards are based on detailed submissions from market participants and extensive year-round research into the banking and capital markets in the region by the magazine’s editors, journalists and research team. Other criteria included the size of the organization, although size was not the emphasis, profitability, the ability to demonstrate growth, out performance of peers and the ability to adapt to changing market conditions and client needs. Each bank was required to highlight its performance over the twelve months in consideration and its demonstrated ability to meet strategic targets, as well as provide updates on reaching mile stones in previously announced initiatives. Alongside financial performance, banks were asked to incorporate details of their digital banking strategies and their approach to issues such as cybersecurity and corporate social responsibility.