The Commercial Bank of Ceylon has been ranked the Strongest Bank in Sri Lanka in 2023 by TAB Insights, the global research and consulting subsidiary of TAB Global, the parent company of The Asian Banker magazine.
The Bank has been ranked 265 places above the second strongest Sri Lankan bank in the TAB Global 1000 ranking.
Commercial Bank Managing Director/CEO Sanath Manatunge said: “For a financial institution, ‘strength’ which depicts resilience, is by far the most important indicator, and this is even more relevant in the Sri Lankan context today. The TAB Global 1000 ranking is based on an entirely objective assessment that uses multifaceted performance figures to compute financial strength, making it an authoritative benchmark.”
Commercial Bank was assigned an aggregate strength score of 5.53, with the Bank achieving high scores for deposits, profit, costs, capital adequacy ratio, liquid cover ratio, net stable funding ratio, fees, reserves, loans and return on assets.
The TAB Global 1000 World’s Strongest Banks ranking evaluates the 1000 largest banks in the world based on their strength. The ranking employs a detailed and transparent scorecard to assess banks using six criteria related to balance sheet performance: scale, balance sheet growth, risk profile, profitability, asset quality, and liquidity, encompassing 14 specific factors.
