The Brand ‘BOC’ (Bank of Ceylon) was named as the most valuable consumer brand in the country and the No.1 rank in the Banking sector by the Brand Finance Lanka at the award ceremony held recently.
Bank of Ceylon’s CEO/General Manager Senarath Bandara and the Chief Marketing Officer Dr. Indunil Liyanage received the certificates from the Managing Director Brand Finance Lanka, Ruchi Gunawardene recently.
Chairman Ronald C. Perera said, “Gathering momentum over years, the brand BOC has reached the pinnacle when adjudged as the No. 1 brand in the country for the 10th consecutive year by Brand Finance Lanka. The Bank is one of the key financiers behind the country’s economic drive and has become a profound household brand for banking services as ‘BOC’.
“This not only because it has the largest balance sheet in the country owned by a single business entity with a trillion triplet in assets, deposits and loans and advances, nor because it has been named as the country’s No.1 Bank and the No.1 Brand,” he said.
CEO/General Manager Senerath Bandara said, “At the end of the day, revenue growth is the moment of truth for any organization with regard to its brand performance.
“Our financial records are very clear about what we are, and where we stand. BOC brand has driven the organization to become the highest profit earning single business entity in the country since 2015, which is calculated for 2017 as a Profit Before Tax (PBT) Rs. 30.3 billion. “This is an unprecedented 22.8% revenue growth from 2016 to 2017. Expanding its scale brand “BOC” will soon acquire an asset base worth Rs.2 trillion becoming the unwavering banking giant in the Sri Lanka,” he said.
“Playing a role as a value creator for its main stakeholder, the Government of Sri Lanka, BOC is one of the main contributors, by way of paying dividends and tax revenue to the Government,” he said.