The Commercial Bank of Ceylon has been ranked No 1 on the Business Today ranking of Sri Lanka’s Top 40 business entities in 2022-23.
Business Today has assigned Commercial Bank an aggregate score of 34.55.
This is the 15th consecutive year that Commercial Bank has been ranked by Business Today as not only the best-performing bank in the country, but one of the five best-performing companies in Sri Lanka overall.
Commercial Bank Managing Director and CEO Sanath Manatunge said, “We are honoured to be ranked No 1 in the Business Today Top 40 in respect of a year that the magazine describes as a challenging period in Sri Lanka’s history, when time seemed to stand still.
“Business Today has noted that companies had to contend with rising inflation and interest rates, energy security issues and tariffs, shrinking forex liquidity, currency devaluation, increasing taxation, import restrictions, and enlargement in working capital while critical economic sectors such as agriculture, manufacturing, and services recorded contractions.
“To move up the ranking in the face of such challenges attests to the Bank’s ability, not just to weather the storm, but to convert challenges in to opportunities,” he said.
