The Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has been awarded the prestigious title of ‘ Bank of the Year Sri Lanka 2024’ by The Banker magazine, a publication of the Financial Times Group in the United Kingdom.
BOC also received this award in 2021 and 2023, highlighting its continued excellence. Moreover, BOC has achieved the remarkable distinction of being the only Sri Lankan bank listed in Top 1000 World Banks 2024.
This recognition is based on a rigorous evaluation process by The Banker magazine, which highlights banks that demonstrate growth while maintaining a solid balance sheet, improving service quality, investing in technology, and fostering sustainability both internally and within their communities. For 2024, the awards recogniSed excellence among banks in 127 countries.
Amid global economic challenges and domestic financial instability, BOC has showcased exceptional resilience. Its strategic initiatives and prudent financial management have ensured sustainable performance.
Kavinda de Zoysa, Chairman of the Bank of Ceylon said, “Being named Bank of the Year Sri Lanka 2024 by The Banker magazine UK is a tremendous honour that reaffirms our financial strength, innovative strategies, and commitment to excellence. In addition, we are proud to be the only Sri Lankan bank listed among the Top 1000 World Banks for 2024. This prestigious awards reflects the unwavering trust of our valued customers and the relentless dedication of our exceptional staff. This global recognitions underscores our resilience and stature in the international banking community. Together, these milestones inspire us to continue delivering beyond banking solutions and ensuring financial stability for all.”
Russel Fonseka, General Manager/CEO of the Bank of Ceylon said, “This recognition is a tremendous honour for the BOC family. Having first won this title in 2021 and again in 2023 and 2024, we have worked to uphold this standard of excellence.
“This prestigious international award stands as a testament to our unwavering commitment to financial stability, exemplary management practices, trustworthiness, transparency, and adherence to the highest standards of good governance. This achievement is not just ours but a victory for our customers and all Sri Lankans.
“Our inclusion in the Top 1000 World Banks 2024 showcases our sustained commitment to delivering value and achieving global benchmarks. I extend my heartfelt gratitude to our valued customers, The Board of Directors, the Government, and all our stakeholders for their steadfast support and contribution, which have been instrumental in achieving this milestone,” he said.
BOC continues to play a vital role in advancing Sri Lanka’s economy by providing tailored financial solutions to key sectors, including agriculture, industry, and tourism. Through programs like the BOC Youth Loan Scheme, the bank continues to support over 10,000 young entrepreneurs, enabling them to turn their business aspirations into reality. Additionally, BOC has empowered women entrepreneurs through the Ran Liya Loan Scheme, which continues to assist women in achieving financial independence and building sustainable businesses.
Furthering its commitment to underserved communities, BOC has introduced the BOC Gammana Program, which focuses on enhancing financial literacy and fostering inclusive economic growth. This initiative aims to uplift rural areas by equipping individuals with the knowledge and resources needed to manage finances effectively.
