The Commercial Bank of Ceylon was chosen as the ‘Best SME Bank’ in Sri Lanka in 2016 by International Finance Magazine (IFM) of the UK, for ‘making a significant difference and adding value, and achieving the highest standards of innovation and performance’ for Small and Medium Enterprise clients.
The award also recognises the Bank’s contribution to raising the bar in the local finance industry, including corporate social responsibility and better corporate governance, in IFM’s ‘Financial Awards’ category, the bank said in a statement.
Commercial Bank Deputy General Manager, Personal Banking, Sandra Walgama accepted the award at a ceremony in Singapore, at which many award winners from across the world gathered to celebrate their achievements.
“This is another remarkable achievement for Commercial Bank, and this award signifies our value addition and quality of service in the SME sector,” she said.
“SMEs are significant contributors to the national economy and represent an extremely important customer segment. Winning this award encourages the Bank to strive even harder to support our SME clients,” Walgama said.
Among the international banks recognised in different categories at last year’s IFM Awards were Standard Chartered Bank (in Bangladesh, Singapore and Vietnam); ANZ (Singapore and Vietnam); Bank of East Asia (Hong Kong); Bank Rakyat and Kenanga Investment Bank (Malaysia); Bank Alfalah (Pakistan); OCBC (Singapore); Taipei Fuban Bank and Cathay United Bank (Taiwan); Habib Bank (UK) and Maritime Bank and Saigon Commercial Bank (Vietnam).
The IFM said the finalists undergo extensive scrutiny on the basis of innovation, growth, sustainability and their contribution towards society among other key factors before the award winners are announced.