Commercial Bank adjudged Sri Lanka’s ‘Best Trade Bank’ for 4th time


The Commercial Bank of Ceylon has been adjudged the ‘Best Trade Bank’ in Sri Lanka by Trade Finance magazine of the UK, following an independent poll of services provided by banks.

The 2013 Award won by Commercial Bank is its fourth Best Trade Bank Award since Trade Finance began presenting such an award in 2009.

According to Trade Finance, which is published by Euromoney PLC, London, there was a revamp of the country categories in this year’s Asia Pacific awards to reflect the heightened role that local and regional banks play in trade finance.

Holding on to their Country Awards alongside Commercial Bank in 2013 were the Bank of China, Bank Mandiri (Indonesia), Kookmin Bank (South Korea), CIMB Bank Berhad (Malaysia), Vietcombank (Vietnam) and Habib Bank (Pakistan).

New winners of the Best Trade Bank award this year included ICICI Bank (India), Bank of the Philippine Islands (Philippines), Kasikom Bank (Thailand), Cathay United Bank (Taiwan) and Dhaka Bank (Bangladesh).

Commenting on the Trade Finance Award, Commercial Bank’s Chief Operating Officer Mr. Jegan Durairatnam described it as an independent reiteration of the Bank’s status as a leading service provider to the business community.

"This award is an important affirmation of Commercial Bank’s pre-eminent position as a service provider to businesses in import and export, and the support provided by its extensive network of branches, agents and correspondents in all key markets and global financial centres," Mr. Durairatnam said. "A prestigious accolade of this nature is also an appropriate acknowledgement of the hard work put in by the Bank’s team."

Trade Finance magazine has been reviewing the global trade market since 1983. The magazine is a channel for the latest news and analysis covering trade services and supply chain, factoring, structured commodity finance and export as well as agency finance.

Established in 1969, Commercial Bank is the largest private bank in Sri Lanka, and the only Sri Lankan bank to be ranked among the world’s top 1000 banks for three successive years. The Bank operates a network of 232 computer-linked service points and the country’s single largest ATM network of 573 terminals. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 15 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.

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