ComBank among the World’s ‘Top 1000 Banks’ | Sunday Observer

ComBank among the World’s ‘Top 1000 Banks’

The Commercial Bank of Ceylon has again been ranked among the Top 1000 Banks of the World, retaining its status as the only Bank in the country to be on this elite list for nine years consecutively, the bank said in a statement.

The Top 1000 Banks of the World are ranked by the UK’s ‘The Banker’ magazine on Tier 1 Capital and includes additional data points such as Pre-Tax Profits, Total Assets, Capital Assets Ratio, Return on Capital, Return on Assets, BIS (Basel) Capital Ratio, NPL to total loans, Loans to Assets Ratio, Risk Weighted Assets (RWA), Density and Cost/Income Ratio, to provide an overall view of their soundness, profitability, asset quality and operational efficiency.

The Bank’s Managing Director/CEO, S. Renganathan said, “Consistency is an important virtue in business, especially in the banking sector, and being independently assessed alongside the giants on the world stage is an excellent way to benchmark our performance during a period of challenge. Commercial Bank’s ability to remain in the Top 1000 for nine straight years is an affirmation of the solid growth the Bank has achieved year on year, despite the volatile conditions in Sri Lanka.”

The top four positions in the 2019 global ranking are held by Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China.