Best Bank: Commercial Bank of Ceylon
Asian regional awards
Commercial Bank of Ceylon takes the plaudits for best Sri Lankan lender of the year. Bankers and analysts on the island say CBC is strong across the board, from retail and corporate finance to stock underwriting and foreign exchange and treasury services. It plans to have an overseas presence by 2011. The bank posted income of SLR24.47 billion ($221 million) in the full year 2006, a 52% increase over the previous year, while profit before tax rose 15.65% over the same period. Customer deposits rose 24% to SLR158 billion in 2006, and total assets increased 24.4% to SLR224 billion.