Best bank 2025: Commercial Bank of Ceylon
Commercial Bank of Ceylon, the largest private sector bank in Sri Lanka, has been named the country’s best bank, recognised for its exceptional financial and digital performance amid the country’s gradually recovering economy.
In 2024, ComBank delivered impressive results in profitability and revenue growth, demonstrating the successful execution of its business strategy. Profit before tax rose by nearly 200%, reaching SLR(s)95.54 billion ($319 million), up from SLR(s)31.88 billion in 2023. Profit after tax surged by 164% to SLR(s)54.07 billion. The bank’s return on equity improved to 22.06%, the highest among private banks in the country.
The bank also improved its asset quality, reducing its impaired loans ratio to 2.76%, down from 5.85% the previous year.
ComBank further cemented its market leadership, increasing its market share in total assets to 13.16% from 12.65% in 2023, and its share of deposits to 12.90% from 12.54% in 2023.
On the digital front, the bank continued to lead. By November 2024, its digital banking platform, ComBank Digital, had over 1.5 million users, processing more than 5 million transactions per month. The digital adoption rate reached 45%, with 48 million customer interactions recorded.
The bank also introduced AI-driven underwriting, enabling customers to benefit from automated credit approvals and an enhanced digital experience.
Best investment bank 2025: NDB Investment Bank
Amid Sri Lanka’s economic and market recovery in 2024, NDB Investment Bank (NDBIB) retained its crown as the country’s leading investment bank, once again demonstrating all-round expertise across key areas of investment banking.
On the debt capital markets front, NDBIB facilitated nine transactions, including debentures and commercial papers, with a total transaction value of SLR(s)24.6 billion ($82.2 million).
Notably, in 2024, NDBIB also laid the groundwork for the issuance of Sri Lanka’s first Shariah-compliant listed bond, following the Colombo Stock Exchange’s publication of Sukuk Rules in January 2024. Acting as the issuer alongside Vidullanka plc, the listing was formally submitted in January 2025.
In the equity space, NDBIB managed four rights issues with a total value of SLR(s)3.4 billion. Among the significant transactions, NDBIB acted as exclusive financial adviser to the Citrus Group of Companies – a prominent leisure sector property holding group – on the structuring and execution of a series of rights issues on the Colombo Stock Exchange, helping to raise SLR(s)3.2 billion.
On the M&A front, the bank worked on four mergers and acquisitions and divestitures, with a combined value of SLR(s)3.3 billion.
Best bank for diversity and inclusion 2025: People’s Bank, Sri Lanka
People’s Bank, Sri Lanka has set a benchmark in fostering diversity and inclusion within the Sri Lankan banking sector, evidenced by its workforce demographics and strategic initiatives.
In 2024, the bank rolled out its first performance management system in 62 years, embedding diversity, equity and inclusion principles into every stage of talent development. This framework features fair evaluations, unconscious‑bias training and inclusive feedback channels, reflecting a firm commitment to equitable career progression.
The bank also boasts a notable gender diversity rate. Women represent 62% of the total workforce, with a third of them holding corporate management positions and almost two-thirds serving as officers.
Equally noteworthy is the bank’s Self Wellness Centre, which provides free, confidential mental‑health support to employees and their families. This service highlights the institution’s recognition of wellbeing as integral to performance and engagement.
Moreover, over 600 staff members participated in targeted training programmes in 2024, covering diversity awareness, personality development and team‑building. These efforts foster a culture of continuous learning and inclusive practice at every organisational level.
Best digital bank 2025: People’s Bank, Sri Lanka
People’s Bank, Sri Lanka stands out for its commitment to digital banking innovation and excellence, combining technological advancements with practical applications for customer benefit.
The bank pioneered People’s Wiz and eZE Credit – the region’s first real-time digital onboarding and fully virtual loan origination systems – enabling instant account access and faster loan approvals through AI-driven risk assessments.
The lender’s digital ecosystem now encompasses People’s Wave for retail banking, the People’s Pay wallet, People’s Wyn for corporate clients, and an interactive chatbot, People’s Zen, delivering a cohesive suite of efficient, user-friendly services.
Beyond technology, People’s Bank prioritises financial inclusion. Its rural outreach programmes bring basic banking to underserved areas across Sri Lanka, supported in three national languages. Complementary digital literacy initiatives further ensure that local communities can fully benefit from its digital platforms.
Best digital bank for SMEs 2025: NDB Bank
NDB Bank has emerged as a leader in digital banking for SMEs in Sri Lanka, with a range of new and enhanced platforms.
Its innovative TradeLinc platform, operational since 2024, is uniquely tailored for suppliers, distributors and corporates to manage trade-related transactions seamlessly. Offering real-time funding and 24/7 access, TradeLinc enhances transparency and efficiency in supply chain management, positioning itself as a cost-effective alternative to international solutions.
To boost its digital service portfolio, NDB introduced the Neosbiz app in 2024, marking it as the first banking application in Sri Lanka dedicated to SMEs. This initiative greatly facilitated digital onboarding, thereby boosting transactional volumes among SME customers. Additionally, NDB Bank successfully leveraged the SME Connect platform, developed by the Asian Development Bank, to provide MSMEs with access to training programmes, educational resources and networking opportunities. This engagement is part of NDB’s collaboration with the National Enterprise Development Authority’s (NEDA) B500 project aimed at building capacity among MSMEs.
NDB’s strategic partnerships in 2024 with key stakeholders including the NEDA, Export Development Board, International Finance Corporation and Asian Development Bank, underscore its commitment to enhancing the capacity and competitiveness of the SME sector in Sri Lanka. Through these alliances and its innovative digital solutions, NDB Bank is profoundly transforming the SME banking landscape.
Best bank for ESG 2025: Sampath Bank
Sampath Bank has woven ESG principles into its Sri Lankan operations, demonstrating a comprehensive approach to sustainable banking. Its approach is well balanced, encompassing governance, green financing, capacity building, product innovation and alignment with global standards.
At the governance level, an active board sustainability committee shapes the bank’s strategic ESG direction.
The bank’s ESG framework aligns with leading global standards, including Sustainability Accounting Standards Board and Task Force on Climate-related Financial Disclosures, and it is advancing implementation of the Sri Lanka Financial Reporting Standards sustainability standards.
Built on this foundation, Sampath Bank’s green financing programme funded SLRs1.44 billion ($4.78 million) in renewable energy projects in 2024, including the launch of its green financing scheme. In collaboration with partners, the bank also offers solar loan concessions to increase access to clean energy solutions.
Alongside financing, the bank has invested heavily in capacity building, delivering ESG training to 1,418 staff and board members. These internal initiatives have contributed to an 8% reduction in the bank’s carbon footprint and a 36% increase in solar power generation capacity.
Recent additions to the bank’s product offering have also made an impact: recyclable metal credit cards have substantially cut plastic use, while its waste‑reduction programmes continue to diminish the bank’s environmental impact.
Best bank for research 2025: First Capital
First Capital has demonstrated exemplary performance through its integrated banking and research services in Sri Lanka.
In 2024, it captured a 12% share of the country’s debt segment, cementing its strength in fixed income and debt offerings. By combining its research capabilities with strategic advisory, First Capital has helped redirect capital from traditional banks and non‑financial institutions, encouraging investment over savings and making capital markets more inclusive.
Its eight‑member research team, covering macroeconomics, equities and fixed income, has driven investment banking fee revenue up from 30% to 40% year‑on‑year, with another 25% growth anticipated into 2025. Complementing this performance are its digital investment initiatives and high‑value debt capital markets transactions, including two landmark deals exceeding SLRs4 billion ($13.3 million) each, which demonstrate both First Capital’s comprehensive expertise and its innovative approach in research and advisory.
Best international bank 2025: HSBC
HSBC in Sri Lanka showcased leadership in banking innovation, corporate responsibility and financial stability in 2024.
The bank deepened its digital reach, achieving 98% penetration in cash‑management and 84% in trade transactions via HSBC Net, and rolling out a fully digital account‑opening process.
HSBC Sri Lanka also delivered on corporate sustainability by supporting education for 8,000 rural children in partnership with Lanka Jathika Sarvodaya Shramadana Sangamaya and providing seed funding to 20 women entrepreneurs.
It also broke new ground in sustainable lending, completing its first market sustainability‑linked trade loan and executing $149 million in transactions aligned with global sustainability goals. The bank’s environmental commitments included a partnership with the International Union for Conservation of Nature to restore 125 hectares of degraded land and the launch of an educational series on ESG practices.
Support for clients remained robust, with tailored financial solutions provided to over 1,100 companies and entrepreneurs. Community outreach expanded through initiatives such as the HSBC Future Lions Golf grassroots programme and empowerment training for 150 women‑led SMEs.
On the financial front, the lender’s total assets rose by 4% year‑on‑year while total deposits increased by 6%.
Best bank for large corporates 2025: Hatton National Bank
Hatton National Bank delivered a well-rounded performance across its corporate banking operations in 2024, demonstrating a clear role as a key partner for large-scale businesses.
The bank’s corporate lending arm saw substantial growth in its loan portfolio, reflecting a continued commitment to supporting major investments and financing needs.
Alongside lending, digital innovation played a central role in strengthening client relationships. The bank’s corporate digital platform attracted a broad base of new clients and handled a high volume of transactions, enabling a large proportion of its corporate partners to migrate to online channels.
The bank also deepened its trade finance capabilities, boosting its presence in both import and export financing and underscoring its leadership in facilitating international trade flows.
Additionally, its custody and trustee services expanded notably, with assets under management rising to reinforce its standing as a leading provider in the trust and unit trust market.
Best bank for SMEs 2025: Commercial Bank of Ceylon
Commercial Bank of Ceylon has played a pivotal role in supporting Sri Lanka’s small and medium enterprise (SME) sector, driving sustainable growth and enhancing financial inclusion.
As a leading lender, the bank has consistently provided substantial credit and advisory services to a diverse portfolio of SMEs across the country, underlining its commitment to fostering entrepreneurship and economic resilience.
Furthermore, it has broadened its reach by expanding its SME customer base and intensifying support for women‑owned enterprises through dedicated financing initiatives. These efforts are underpinned by innovative lending programmes and tailored credit solutions designed to meet the unique needs of different industries.
In addition to its lending activities, the bank has prioritised accessibility by streamlining digital onboarding processes and deploying mobile service units to serve businesses in remote and underserved regions. Such measures have reduced barriers to formal finance and accelerated SME participation in the banking system.
Beyond financial products, the bank has nurtured a comprehensive SME ecosystem through a range of networking platforms, capacity‑building forums and strategic partnerships. By facilitating peer connections, mentoring opportunities and market linkages, it has helped enterprises scale operations and tap into new growth channels.
Best bank for customer experience 2025: Seylan Bank
Seylan Bank has set a benchmark in enhancing customer experience in Sri Lanka by blending technological innovation with customer‑focused services. Its recent initiatives underscore a commitment to seamless digital experiences and continuous support.
Over the review period, the lender has recorded a 43% increase in digital banking users and expanded platform accessibility to three languages, driving mobile and internet banking penetration to 33%. Operational excellence is further evidenced by a 99.4% accuracy rate in cross‑border remittance processing.
Seylan Bank launched the Ethera Kaasi savings account and Seylan RED priority banking service, both tailored intricately to cater to the unique needs of diverse customer segments. This strategic focus has significantly improved customer loyalty and satisfaction across the board.
The bank’s commitment is also evidenced by its comprehensive 24/7 customer support system. Its contact centre handled more than 580,000 interactions with a service level of 92.1%, facilitating real‑time card blocking and easy payment plan conversions.
