ComBank among ‘Top 1000 World Banks’ | Sunday Observer

ComBank among ‘Top 1000 World Banks’

12 July, 2020
 S. Renganathan
S. Renganathan

The Commercial Bank of Ceylon has moved up 51 places on the World’s Top 1000 Banks ranking for 2020, and become the only Sri Lankan bank to be on this list for 10 years in a row.

In its milestone 50th‘Top 1000 World Banks’ ranking, ‘The Banker’ magazine, published by the Financial Times of the UK, has ranked Commercial Bank at No 878, primarily on the basis of the Bank’s Tier I capital.

“Commercial Bank was the first Sri Lankan bank to enter the Top 1000 World Banks ranking, and to remain on this ranking for 10 consecutive years in the midst of local and global challenges is a strong testament to our strength and resilience,” the Bank’s Managing Director S. Renganathan said. The Banker ranks banks from 1 to 1,000, primarily on tier-one capital, and regional breakdown is supported with editorial commentary, making the Top 1000 World Banks one of the most industry-recognised rankings available. This year’s ranking adds a new Best Performing Banks ranking using a newly developed model to compare leading G20 banks across eight key performance categories; highlighting the banks’ relative strengths and weaknesses going into the crisis and indicating which are likely to emerge in best shape.

The model refers to 30 key ratios to score and rank banks, country by country, on their performance in eight categories. Each bank’s performance across these categories is then used to generate an overall ‘best-performing bank’ score and ranking.