Sri Lankaâ€™s Commercial Bank in Worldâ€™s Top 1000
ECONOMYNEXT – The Commercial Bank of Ceylon said it has been ranked among the Top 1000 Banks of the World, in the ‘The Banker’ magazine’s annual rankings, the only Sri Lankan bank to do so five years in a row.
The ranking is based on the bank’s key performance indicators for FY 2014. Commercial Bank has moved up 39 places in the 2015 rankings, a statement said without giving the bank’s ranking.
The Banker is published by Financial Times Business, which is the specialist publishing and conferences arm of the FT Group.
The Top 1000 Banks of the World are ranked on the basis of Tier I capital, assets, capital assets ratio, pre-tax profits, return on capital, return on assets, BIS (Basel) Capital ratio, Non Performing Loan to total loans, loans to assets ratio, risk weighted assets to total assets ratio and cost income ratio.
“Commercial Bank has always emphasised the importance of consistency in performance,” said Jegan Durairatnam, Managing Director and Chief Executive of Commercial Bank.
“The conditions we operate in are challenging and changeable, so achieving KPIs that are on par with other leading international banks, reflects well on the strength and stability of the bank.”
The top three positions in the 2015 ranking of the World’s Top 1000 Banks remain unchanged from the previous year, with ICBC (China), China Construction Bank and JP Morgan Chase & Co. (USA) ranked first, second and third respectively.
Four of the top 10 banks are from China, four are from the USA, while the UK and Japan have one each in the top 10.
(Colombo/July 08, 2015)