commercial bank of ceylon - banking solutions that matter...commercial bank-giving you banking...
TRANSCRIPT
Banking SolutionS that matter
In a fast-paced world where technology, accessibility and convenience take centre stage, we at Commercial Bank have ridden the wave that has taken us to the next level of convenience and ease of use. With products and services that cater to diverse needs
that offer various services from birth to retirement, we ensure that our trusted solutions make your life stable and secure. Acclaimed, recognised and dynamic, we provide you the
financial security and the platform from which your dreams take flight.
Commercial Bank-Giving you banking solutions that matter.
Banking SolutionS
that matter
2
Contents
Cover story 1
vision & Mission 3
ABout us 4
finAnCiAl hiGhliGhts 6
ProduCts & serviCes 10
BoArd of direCtors 30
AwArds And reCoGnition 29
BAnkinG ChAnnels 28
ContACt us 33
CorPorAte MAnAGeMent 32
3
vision & Mission “To be the most technologically advanced, innovative and customer friendly financial
services organisation in Sri Lanka, poised for further expansion in South Asia.”
“Providing reliable, innovative, customer friendly financial services, utilising cutting edge technology and focusing continuously on productivity improvement whilst developing our staff and acquiring necessary expertise to expand locally and regionally.”
4
ABout us
Banking solutions that matter to the people and institutions of this country have been the central tenet of our business model and we have developed a range of products and services to facilitate this process of value creation among all stakeholders.
The effectiveness and relevance of our business strategy in relation to diverse customer segments is evidenced in the exceptional growth of our key Strategic Business Units (SBUs) in the sectors of Personal Banking (Retail Banking and SME), Corporate Banking (Corporate Lending/Investment Banking/Off-shore Banking and Trade Finance), Treasury, Card Centre and Digital Banking. Our SBUs have consistently created value to stakeholders in keeping with the competitive conditions in the financial sector to carve out an ever increasing market share in their designated product and service categories and have consistently augmented brand visibility in spite of the diversity of substitutes and alternatives across the financial services landscape.
In the arena of Personal Banking (Retail Banking and SME) we have the distinction of being acknowledged as the largest financier to SMEs, supporting the economic backbone of the country through the disbursement of a wide range of flexible and accessible financial products from an island wide branch network of 260 plus branches. In the highly competitive segment of Corporate Banking (Corporate Lending/Investment Banking/Off-shore Banking and Trade Finance) we
are the leader of quality and professionalism with a full assortment of financial products to fuel business activity and corporate growth. The financial support services provided by our Corporate Banking Unit contribute directly to overall economic growth of the nation by strengthening the financial capabilities of Sri Lankan companies for expansion, growth and development. Commercial Bank Card Centre offers an extensive variety of card based facilities to enhance overall quality of life for individuals and institutions through heightened convenience and real time transactional facilities. The rapid growth of our card based products reflect the immense popularity and prestige of the Commercial Bank brand and have already positioned Commercial Bank as one of the strongest card services providers in the country.
Our innovative Digital Banking solutions have fast-tracked the digitisation of the Sri Lankan financial landscape and contributed towards a transformation of the traditional banking model in the country. Our cutting edge digital solutions have firmly entrenched Commercial Bank among the next generation technology based financial services providers, with new opportunities opening up in the world of digital applications. Commercial Bank treasury services have also maintained continuous growth, adding to the Bank’s financial strength and organisational stability as one of the most prudently and strategically governed financial services providers in the country with an expanding international imprint.
5
Our growing international presence is highlighted by our rapid expansion across the Asian region, where today, Commercial Bank has been acknowledged as the Sri Lankan private bank with the largest footprint in Asia. Commercial Bank Bangladesh, launched in 2003, has expanded its footprint to 19 outlets and has become one of the best performing Foreign Banks in Bangladesh. In 2015, Commercial Bank became the first Bank to obtain a license to open a Representative Office in Myanmar. In 2018, the Bank established, its subsidiary ‘CBC Myanmar Microfinance Co Ltd.’ to provide micro financing facilities in the country. In 2016, Commercial Bank established a fully fledged Tier 1 Bank in Maldives through a joint venture. In addition to our foreign operations we have more than 20 Business Promotion Offices scattered in key markets around the world.
Our financial and business acumen has been recognised through a plethora of independent awards and accolades, and stands proud and tall as the Most Awarded Bank in Sri Lanka. Guided by a visionary leadership backed by years of experience and specialisation in financial services, Commercial Bank’s success, past, present and future, is deeply entrenched in strategic foresight and a future oriented ideology.
Making history as the first private bank in Sri Lanka to reach a trillion rupee asset base, Commercial Bank is set to create a future, based on a time tested legacy of innovative technology solutions and new and innovative
product and service offerings for unmatched customer convenience.
In the unlimited vision of growth that is being unfolded with every step forward, we are evolving to a new era of financial transactions. Already Commercial Bank is in the vanguard of the digital transformation sweeping the world. Automation is set to play a key role in driving operational excellence and cost savings and ensuring consistent quality by transforming the vital front lines to be future ready and supporting the essential back-end activities for a paradigm shift in the traditional banking model. Pioneering new digital applications within the ever changing mobile platform, the Bank is sweeping into the digital age bringing with it hitherto unimagined benefits for customers wherever they are located. Adroitly navigating the cutting edge of creative technology solutions, Commercial Bank is a regional technology pioneer with its e-passbook, a mobile phone and ‘tab based’ account passbook app introduced for the first time in South Asia, facilitating effective mobile phone based banking transactions. Commercial Bank is poised to pioneer new vistas of growth and opportunities, making inroads in lifestyle changes like never before, enabling transglobal financial connectivity that defies the traditional physical boundaries of time and space.
6
finAnCiAl hiGhliGhts
Group Bank 2018 2017 Change 2018 2017 Change % %
results for the year - (rs. Bn) Gross income 139.657 115.605 20.81 138.049 114.357 20.72 Profit before taxes on financial services 32.144 28.173 14.10 31.643 28.064 12.75 Profit Before Taxation (PBT) 26.099 23.280 12.11 25.591 23.183 10.39 Income Tax Expenses 8.236 6.654 23.77 8.047 6.602 21.90 Profit After Taxation (PAT) 17.863 16.627 7.44 17.544 16.581 5.81 Revenue to the Governments 15.323 11.587 32.24 15.127 11.472 31.86 Gross Dividends 6.571 6.478 1.44 6.571 6.478 1.44 Position at the year end - (rs. Bn) Shareholders’ Funds (Stated capital and reserves) 119.398 107.995 10.56 118.406 107.099 10.56 Financial liabilities at amortised cost - due to depositors 994.371 857.270 15.99 983.037 850.128 15.63 Gross loans and advances 897.956 760.454 18.08 890.229 754.708 17.96 Total Assets 1,319.912 1,155.821 14.20 1,303.485 1,143.374 14.00 information per ordinary share (rs.) Earnings (Basic) 17.55 17.05 2.93 17.36 17.03 1.94 Dividends - Cash - - - 4.50 4.50 - Dividends - Shares - - - 2.00 2.00 - Net Assets Value 118.13 108.44 8.94 117.15 107.54 8.94 Market value at the year end - Voting N/A N/A - 115.00 135.80 (15.32)Market value at the year end - Non-voting N/A N/A - 95.00 105.00 (9.52)
ratios Return on average shareholders’ funds - (ROE) (%) 15.71 17.78 (2.07) 15.56 17.88 (2.32)Return on average assets - (ROA) (%) 1.44 1.53 (0.09) 1.43 1.54 (0.11)Total impairment provision as a % of gross loans and advances (%) 3.38 2.37 (1.01) 3.27 2.29 (0.98)Cost of risk (%) 0.98 0.13 (0.85) 0.96 0.09 (0.87)Non-performing loans ratio - Gross (%) - - - 3.24 1.88 (1.36)Non-performing loans ratio - Net (%) - - - 1.71 0.92 (0.79)Price Earnings Ordinary Voting Shares - (times) N/A N/A - 6.62 7.97 (16.93)Dividend Yield - Ordinary Voting Shares (%) N/A N/A - 5.65 4.79 0.86 Dividend Cover on Ordinary Shares (times) N/A N/A - 2.67 2.62 0.05 statutory ratios % Liquid assets ratio - Domestic Banking Unit (DBU) N/A N/A - 24.47 27.28 (2.81)Liquid assets ratio - Off-Shore Banking Unit (OBC) N/A N/A - 30.20 30.95 (0.75) Capital Adequacy ratios (under Basel iii) (%) Common Equity Tier I Capital Ratio ( Minimum Requirement - 2018 - 7.375%, 2017 - 6.250% ) 11.434 12.122 (0.688) 11.338 12.111 (0.773)Tier I Capital Ratio ( Minimum Requirement - 2018 - 8.875%, 2017 - 7.750% ) 11.434 12.122 (0.688) 11.338 12.111 (0.773)Total Capital Ratio ( Minimum Requirement - 2018 - 12.875%, 2017 - 11.750% ) 15.626 15.701 (0.075) 15.603 15.746 (0.143) Liquidity Coverage Ratio (%) Rupee - ( Minimum Requirement - 2018 - 90%, 2017 - 80% ) N/A N/A - 236.20 272.15 (35.95)All Currency - ( Minimum Requirement - 2018- 90%, 2017 - 80% ) N/A N/A - 238.69 209.19 29.50
7
PerforMAnCe indiCAtors
2014 2015 2016 2017 2018
70,5
12
70,3
41
Shareholder Funds
rs. mn
78,3
54 107,
099
118,
406
Profit Before taxation Profit after taxation
2014 2015 2016 2017 2018
15,7
3611
,180 17
,143
11,9
03
20,0
5114
,512
23,1
8316
,581
25,5
9117
,544
Profit Before Taxation and after Taxation
rs. mn
advances Deposits total assets
2014 2015 2016 2017 2018
405,
431
529,
361
795,
610
508,
115
624,
102
879,
805
Growth in Deposits, Advances & Total Assets
rs. mn
754,
708
850,
128
1,14
3,37
4
890,
229
983,
037
1,10
3,48
5
616,
018
739,
563
1,01
2,20
1
2014 2015 2016 2017 2018
71 70
146
122
127
133
115
Shareholders’
Funds (rs. Bn)
(lhS)
Bank’s market
Capitalisation of
the CSe (rs. Bn)
(lhS)
Market Capitalisation
rs. Bn/ Bank
Bank’s market
Capitalisation
ranking (rhS)
78
107 11
8
4
3 34 3
8
9
PerSonalFinanCialServiCeS
10
•dotcom teen Account The teen saver account for the youth of today, with one of the most attractive interest rates, and an exclusive Dotcom Debit Card with “Tap ‘n Go” facility, Online Banking facility and many more benefits.
• Anagi women’s savings AccountA savings account exclusively for women with a special interest rate and a host of value additions.
• super saver AccountThe Super Saver Account is the savings account that guarantees a higher return on your savings.
• Power Bonus Account Power Bonus Savings Account offers the flexibility of a regular savings account with the high interest available on a fixed deposit; 60% of bonus on interest earned will be paid quarterly, in addition to the regular monthly interest.
•udara senior Citizens’ AccountAn account with higher interest rates for both savings & fixed deposits with additional benefits for senior citizens.
• Achiever Current AccountAchiever Current Account is designed specifically to meet the needs of success driven executives of today as they strive to reach the top of the corporate ladder.
Our products are designed to bring our customers closer to their goals through superior financial returns and the security of Sri Lanka’s most awarded Bank.
ProduCts And serviCes
sAvinGs
We offer you a variety of savings accounts to choose from. Based on your needs, you can select an account that helps you save for your future. You have easy access to your money with the largest network of 800 + ATMs in Sri Lanka.
•regular savings AccountRegular Savings is the most flexible way to save. It also gives you the convenience of operating your account through Online Banking & Mobile Banking.
• Arunalu Children’s savings Account The children’s savings account with one of the highest interest rates and cash prizes for year 5 scholarship winners.
• ‘isuru Minors’ savings Plan If you are looking for a savings plan that guarantees a secure future for your child, Isuru is the ideal savings instrument. With Isuru, by the time your child is 18, he/she will receive up to Rs. 8.8 million to start off his/her adult life and cash prizes for year 05 scholarship winners.
11
•Millionaire AccountThe Millionaire Account provides you with the opportunity to invest a fixed amount monthly, over a short period and to achieve your dream of becoming a millionaire on the target period.
• future Pensions PlanA pension plan for the young to plan a secure retirement, together with an annual bonus. You can choose between a monthly instalment option or a lump sum deposit option.
•divisaru savings Account“Divisaru” Savings Accounts are a uniquely structured savings account exclusively for Micro Entrepreneurs that provide a total financial package, which includes a savings scheme as well as a micro loan facility to provide a secure base to achieve your aspirations in life.
• yasasa savings AccountA special Savings Account introduced for Government Pensioners or the widows/widowers of the pensioners offering special benefits such as advances up to 75% of the of the monthly pension, special Personal Loans up to Rs. 2.5Mn, a free Debit Card and a higher Interest rate .
• Personal foreign Currency (PfC) savings AccountsPFC Savings Accounts enables you to save your hard earned foreign currency with exceptional interest rates together with a host of other benefits.
dePosits
• fixed depositsOur Fixed Deposits offer highly attractive returns and allow you to plan your finances.
• Call deposits A short-term deposit account requiring 7 days for the withdrawal of funds.
• Personal foreign Currency (PfC) fixed depositsEarn attractive rates of interest on foreign currency deposits.
Current ACCounts
Our Current Accounts are backed by multiple technology platforms to bring you the best in modern banking. Not only you will have the prestige of owning one of the most respected cheque books in the market, but your financial transactions will be supported not only through our island wide branch network and 800+ ATMs across the country, but also through Online Banking and Mobile Banking, for maximum convenience in managing your day to day finances.
Flexible overdraft facilities are available with your Current Account, to ensure smooth cash flows at all times.
12
loAns
Whatever your personal objectives are in life, we are ready to support you. Our personal credit facilities can be customised to accommodate your income and repayment capabilities, paving the way to your objectives today, without compromising your future.
• Personal loansAll your personal financial needs, be it an unforgettable wedding, the acquisition of your dream vehicle, settlement of credit card outstanding, or just about anything else, we can offer you the best solution to fit your requirement.
•home loansStructured for maximum convenience and quick access to funds, our home loans provide excellent value to help you to purchase a land, build, renovate or extend your house or your apartment with speedy approvals and other value additions.
•diribala development loansDiribala loans are designed to enhance, expand and upgrade your business. Designed and developed to support Small and Medium Entrepreneurs (SME) The financial assistance is accompanied by a range of benefits and solutions to take your business to the next level.
• loans on fds This service enables customers to obtain cash advances against the Fixed Deposit in a money emergency whilst keeping your Fixed Deposit intact. •Gold loansFor fast and convenient access to cash, with no hassle of collateral or guarantors, our gold loans are your best choice for quick cash.
•Green loansSpecially developed loan schemes to fund green energy requirements of individuals and corporates are available under this category. The customers enjoy preferential rates and terms under this category as an green initiative to protect the environment.
leAsinG And fACtorinG
Our flexible and customised leasing facilities are the shortest route to acquiring any type of vehicle and/or machinery, in line with your budget and financial plans.
Green leasing facilities are also available for purchasing of hybrid vehicles and solar panels.
We offer the most cost effective leasing facilities including Top Up Leasing and Super Leasing facilities that allows you to purchase a high value vehicle at a lower rental, to purchase motor vehicles, ensuring unparalleled value for money for our customers.
13
Commercial Bank factoring services offer the best terms in town to support your cash flows, with the added benefit of eliminating the cost and hassle of collections.
MiCro finAnCe We believe micro entrepreneurs are the seeds of great businesses that can be fostered from within our grassroots. Our objective is to cultivate seedling micro entrepreneurs into future SMEs. That is why our microfinance facilities are accompanied by a range of support services, including advisory and technical assistance. Our micro finance facilities are also available to suppliers and out-growers of our corporate clientele.
investMents
Our investment products can match your investment needs and risk appetite for maximum returns, while secure in the knowledge that your funds are in safe and trustworthy hands.
Our investment products can match your investment needs and risk appetite for maximum returns, while secure in the knowledge that your funds are in safe and trustworthy hands.
•Money Market AccountsAn innovative deposit scheme that combines the flexibility of call deposits whilst earning the high interests of time deposits.
• treasury BondsGilt-edged medium-term and long-term debt instruments that are sold by the Government of Sri Lanka through the Central Bank.
• treasury Bills Risk free, short-term (3-12 months) debt instruments that are sold by the Government of Sri Lanka through the Central Bank.
•rePo investmentsShort-term (up to one year) REPO investments are backed by government securities with flexible maturity periods.
14
15
CorPorateFinanCialServiCeS
16
CorPorAte BAnkinG
Our unrivalled range of corporate banking products are designed for maximum flexibility and convenience, to support the growth of your business.
Our corporate banking solutions are structured with speed and flexibility with the primary objective to increase customer convenience, while the overall customer value proposition is enhanced through the superior services, expertise and professionalism of our staff who strive to exceed customer expectations.
Corporate Banking services:• Corporate Lending• Overdrafts• Pre-Shipment Loans• Import Demand Loans• Short (Demand) Term Loans• Term Loans• Paymaster-Digital Banking Solutions• Bill Purchase Facilities• Factoring Facilities
investMent BAnkinG
We provide a range of investment banking services, which complement our traditional commercial banking services. Our Investment Banking services include:• Functioning as managers, bankers, and underwriters to initial public offerings of equity and debt
• Structuring and arranging placements of corporate debt and private equity• Large scale project financing, including renewable energy project financing• Corporate advisory services• Margin Trading• Custodian services• Escrow services
trAde finAnCe
International trading has never been easier with our range of modern trade finance products. Geared to position Sri Lanka as an international trading hub, they have been created to facilitate the growth of your business. • Establishing of Letters of Credit • Advising/Confirming Export Letters of Credit • Handling Import and Export related documents • Issuing Shipping Guarantees/Advanced Documents •Handling Open Account Transactions & Advance Payments • Handling Entrepôt Trade Transactions • Facilitating Marine Insurance • Arranging Forward Exchange Contracts • Handling Import Documents under Letter of Credit/ Collection • Offering the Best Rate of Exchange on your Import/Export Bill
17
GuArAntees
Our trade guarantees are customised to your needs and designed to support you achieve your objectives. • Bid Bonds• Performance Bonds• Advance Payment Guarantees• Retention Money Guarantees• Credit Facility Guarantees• Customs Duty Guarantees• Bonded Warehouse Guarantees
eXPorters foreiGn CurrenCy ACCounts
Reach out to any country in the world to expand your global footprint by benefiting from the best financing options.• Foreign Currency Loans • Pre Shipment/Packing Credit Loans • Import Demand Loans • Leasing Facilities.
treAsury ProduCts
Invest in your future, knowing your investment is in safe hands. As an authorised dealer in foreign exchange and a primary dealer appointed by the Central Bank of Sri Lanka, we offer a full range of foreign currency and other treasury instruments and services to grow your investments.
• Foreign Exchange Services- Spot, Forwards and Foreign Exchange Swaps, Cross Currency Trading
• Fixed Income Products- Treasury Bills, Treasury Bonds, Repurchase & Reverse Repurchase Agreements
• Financial Derivatives- Interest Rate Swaps (IRS), Foreign Exchange and Commodity Options
• Investment Products- Inward Investment Account (IIA) is a special tax free investment opportunity for non-resident Sri Lankans, foreign nationals or even corporate bodies and institutional investors.
CoMBAnk CArds
Commercial Bank Cards offer the easiest and most convenient way to purchase goods and services from any outlet.
Commercial Bank Cards come with a range of unrivalled benefits, facilities and delights that will support the aspirations of you and your family as you journey towards your goals in life.
Our Cards feature a range of exciting technology innovations as well as customer convenience options that make them not just unique but tailored to your specific lifestyle and daily financial requirements. The featured facilities include:
18
• Exciting year round discounts and promotions at various merchants both locally and internationally• Max Loyalty Reward Points• 0% Easy Payment Plans• A Balance Transfer Scheme• A Flexi Plan Scheme• The Auto Bill Payment facility • Cash on Card for emergency cash advances
Credit CArds
• VisaInfiniteCreditCardWith comprehensive purchasing power and protection, a dedicated concierge service, full travel insurance, airport lounge access and a carefully selected range of privileges, the Visa Infinite Card enables you to enjoy the finer things in life.
• visa signature Credit CardThe Visa Signature Card offers a comprehensive range of value added products, services and privileges including airport lounge access which is completely at your disposal to experience the power to do more.
• world Mastercard Credit CardThe world is your oyster with a World Mastercard that will open doors to exclusive lifestyle offers through partnerships with an unrivalled array of global top-tier brands. We embody the prestige and status of the elite through a comprehensive suite of customised services, such as airport lounge access.
• unionPay Asia Prestige diamond CardUnionPay, the world’s largest Credit and Debit Card issuer, is brought to you for the 1st time in Sri Lanka by Commercial Bank. Designed for premium business travellers in Asia who are looking for unique preferential services, UnionPay Asia Prestige Diamond Card offers airport VIP lounge service and a host of other premium benefits.
• unionPay Asia Prestige Platinum CardIndulge yourself in an array of lifestyle offers and a host of other personalised financial solutions whilst travelling the world with your UnionPay Asia Prestige Platinum Card. Tap into a global network of merchant allowing instant payments with the utmost security and convenience.
• Platinum/Gold/silver Credit Cards Convenience, speed and security have been the benchmarks of Combank Credit Cards. Commercial Bank Credit Cards gives you an opportunity to give yourself and your loved ones the very best that life has to offer.
• Chip & Pin Credit Card Internationally-valid, NFC-enabled, Chip & PIN Credit Cards from Commercial Bank, in collaboration with Mastercard, offer maximum protection against the skimming or cloning of a card and against counterfeit transactions. It also minimises the possibility of fraudulent transactions at Point-of-Sale (POS) due to
19
the PIN requirement. This card has both online and offline PIN technology.
• Mobitel data + Credit CardThe first Credit Card in the country that offers free data from Mobitel based on the Card usage. The Card is linked to the customers Mobitel telephone connection and comes with a host of special benefits from Mobitel.
• sliC Motor Plus Credit CardThe First Credit Card which offers to pay insurance premium through easy payment plan to pay SLIC motor insurance premiums and a host of other motor related benefits.
• nuwara eliya Golf Club Privilege CardNEGC privilege Credit Card is the first sport linked co-branded Credit Card in Sri Lanka, Customers will gain an extensive range of benefits at the Nuwara Eliya Golf Club including discounts on course fees, privilege access, and private tee times.
deBit CArds
• Chip & Pin debit CardInternationally-valid, Chip & PIN Debit Cards from Commercial Bank offer maximum protection against the skimming or cloning of a card and against counterfeit transactions. It also minimises the possibility of fraudulent transactions at Point-of-Sale (POS) due to the PIN requirement. This card has both online and offline PIN technology.
• Biz Club debit Card The Biz Club Debit card is exclusive for Commercial Bank Biz Club Members with tailor made benefits The first of its kind in the country, the Commercial Bank Biz Club focuses on bringing SME customers together in order to create new business opportunities, and to provide them support beyond lending. The Biz Club will entitle members to special bank concessions and a personalised VISA Debit Card. Members also receive economic updates and alerts on new business developments via email and SMS and free registration for online & mobile banking facilities, Members also enjoy the convenience of not having to submit detailed project reports or credit proposals when applying for a loan.
• Prepaid web CardThe unique Web Card by Commercial Bank has been specifically developed for customers carrying out regular web transactions with stringent security features to minimise risk of online fraud.
• Prepaid spend Card The Prepaid Spend Card enables cardholders to manage their spending individually, or as a family, and eliminates the need to carry large amounts of cash with them at all times. Customers can request up to 05 cards for the use of their immediate family members or staff, which would allow tracking of family expenditure through SMS alerts sent by the Bank upon each transaction.
20
• Prepaid travel CardCommercial Bank’s Prepaid Travel Cards provide financial security and convenience for travellers, making your foreign trips safer. To use the card, simply top-up your card with the required amount of US Dollars and you are set to go. The Prepaid Travel Card provides greater control over your spending and is safer than carrying hard cash abroad. In addition, it will also protect against currency fluctuations.
• ransalu debit Card The Commercial Bank Ransalu Card is specifically designed to support the country’s apparel industry. The card is exclusively made available to employees of apparel factories that are members of the Joint Apparel Association Forum (JAAF).
• smart tea debit Card The Smart Tea Debit Card by Commercial Bank is a pioneering product exclusively designed for tea factories and green tea leaf suppliers to uplift financial quality of life through the infusion of modern card based technologies into the local tea industry.
• insee loyalty debit Card The first dealer Loyalty Debit card in Sri Lanka exclusively designed for dealers of Insee Cement. Insee Loyalty Debit Cards enables dealers to enjoy all benefits, offers and promotions available to Commercial Bank Debit Card by redeeming loyalty
points earned through the purchasing of Insee Cement products and solutions. This card offers Insee dealers loyalty points in addition to the other ususal benefits offered to all Cardholders.
• fCCisl sMe Privilege CardA Debit Card created exclusively for SMEs together with the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL). This EMV chip hybrid Debit Card is issued by FCCISL to its members, who will be eligible for special benefits.
PAyMent serviCes
Providing solutions to big and small businesses alike, Commercial Bank has created multiple payment options coupled with state-of-the-art technology and international payment platforms.
•Qr Code Based Payment Platforms Commercial Bank is the 1st acquirer in the local market to provide dynamic QR solutions for both Alipay and WeChat Pay. For the first time in Sri Lanka the Bank entered into a partnership with WeChat pay, one of the leading mobile payment solutions in China, to facilitate QR Code payments for Chinese tourists visiting Sri Lanka. Commercial Bank also entered into a partnership with AliPay-China’s leading mobile payment platform to facilitate QR Code based payments for Chinese tourists.
21
• Point of sale (Pos) MachinesCreating ultimate convenience to businesses Commercial Bank was a pioneer in introducing the trendy “Tap n’ Go” technology, facilitated by Near Field Communication (NFC) enabled point-of-sale (POS) terminals installed at merchant outlets around the country. This technology enables the customers to simply tap their NFC enabled Visa or Mastercard Cards on the NFC terminals to carry out payments without having to hand over their cards to outlet staff.
The Bank also offers POS devices that accept and support UnionPay Cards.
•Mobile Pos MachinesCommercial Bank EasyPOS Mobile Point of Sale (POS) devices provide convenience for small and medium scale businesses. A handy device that is compatible with mobile phones, it allows smooth facilitation of card transactions.
• internet Payment Gateway (iPG) servicesInternet Payment Gateway (IPG) services from Commercial Bank come with unique features such as state-of-the-art risk management features and tokenisation that ensure secure and efficient payment solutions for businesses of all levels.
22
23
DigitalFinanCialServiCeS
24
diGitAl BAnkinG serviCes
• flash digital Bank AccountSetting an industry benchmark once more, Commercial Bank has launched Sri Lanka’s first fully-fledged Digital Bank Account app. The app is also the first trilingual Digital Bank account in the country. The Flash Digital Bank Account brings a simple, seamless banking experience to Sri Lankan users, wherever they are. A prospective accountholder can download the Flash App from the App Store or Play Store. Once signed up, accountholders can enjoy a range of services straight from their mobile phones – anytime, anywhere. In addition to basic Online Banking facilities such as Balance Inquiry, Fund Transfers and Bill Payments, the app focuses specifically on promoting the financial wellbeing of its users. To this end, special functions have been developed to help users engage with their money and manage these funds in an accurate and responsible way.
• e-PassbookThe revolutionary Commercial Bank e-Passbook mobile application is available free of charge for all Commercial Bank customers to view their account transactions online or offline, within the privacy of their personal Android, or Apple smart phones.
•online Banking Online Banking by Commercial Bank takes banking to the 21st century by providing a user friendly digital
platform to conduct an array of financial transactions from anywhere, at any time, without the hassle, time and costs associated with physical travel.
Going further, Commercial Bank’s holistic integration of multiple digital platforms has given Commercial Bank customers the added benefit of accessing their accounts through a special Mobile App from their smart phones using any mobile network, within or outside Sri Lanka. Customers can also apply for loans, apply for Online Fixed Deposits and do account opening through Online Banking service.
•online Banking-Corporate Commercial Bank’s Online Banking facility for Corporates is designed to support businesses to achieve their growth objectives. The system provides secure online access to a wide range of corporate banking services, with customised features, to support the daily financial needs of all types of business enterprises. All payments of your business including payments to Sri Lanka Customs and Sri Lanka Ports Authority now can be done at a click of a button.
•Mobile Banking AppThe downloadable App of Online Banking service is easy to install in your smartphone by downloading from the “App Store” or “Google Play Store,” free of charge. It makes all your banking easier and at your fingertips.
25
• PaymasterPaymaster is the product offered by the Bank to its corporate customers for the purpose of making online payments such as settlement of suppliers, disbursement of dividends/interest, insurance claims or agent commissions, salaries and bonuses.
•Mobile Banking ussdThis version of Mobile Banking can be carried out from even the most basic phone models providing convenience to customers of all walks of life. The service consists of simple commands that customers of any age could easily understand.
• sMs Banking SMS Banking simplifies your banking communication to a simple SMS. All you need is an account at Commercial Bank and a mobile connection, with a duly completed application form. The services provided through SMS Banking includes checking of account balance, receiving mini statements, checking of credit card balances and exchange rates, transferring of funds, changing the PIN number and requesting a new PIN.
reMittAnCes
Commercial Bank was the pioneer in introducing its web based inward remittances. Together with its e-Exchange service and other reputed international money transfer services, Commercial Bank offers
Sri Lankans residing overseas a safe and efficient way to send money to Sri Lanka. Apart from our own remittance products, Commercial Bank also facilitates receiving remittances through international money transfer services such as Moneygram, Western Union, Ria, Express Money and many more.
Commercial Bank’s pioneering Remittance Card allows receivers of foreign remittances to withdraw funds from an island wide ATM network and offers many other benefits such as emergency loans and year round promotional offers.
serviCes
• elite BankingCommercial Bank Elite Banking, located at No 7 R. G. Senanayake Mawatha, Colombo 7, brings an unmatched range of exclusive and highly specialised financial services to meet the discerning needs of high net worth customers. These services include;• A dedicated Relationship Officer to handle all daily financial needs• Special tariffs, fee waivers and discounts on our banking services• Overseas travel assistance• Discounted offers on lifestyle services• Investment in Government Securities and bonds• Investment in IPOs and existing listed shares
26
• Commercial Bank BiZ Club Taking its commitments to support the SME sector even further, Commercial Bank pioneered the country’s first SME Business Club to provide SME entrepreneurs extensive networking opportunities and a range of other benefits.
Commercial Bank Biz Club offers four tiers of membership – Premier, Platinum, Gold and Silver with special bank concessions and a personalised Debit Card. Members will also receive economic updates and alerts on new business developments via email and SMS.
•BancassuranceCommercial Bank offers a wide range of Bancassurance options including general insurance, life insurance, travel insurance, marine insurance and all title insurance covers from leading insurance service providers in the country to our customers whilst they conduct their banking services inside the branch, creating utmost convenience to customers.
• islamic BankingIslamic Banking products at Commercial Bank have been carefully crafted under the correct guidance and constant supervision to ensure compliance. There are a host of deposits and loans available for customers.
27
28
Through an expansion strategy that has spread formal financial services to every corner of the island, Commercial Bank stands out as a service provider of ‘par excellence,’ for its multi-model banking channel that delivers the highest standards of professional services combined with extensive accessibility attained by harnessing modern technology solutions that facilitates unparalleled convenience to rural and urban populations alike.
•Branch networkWe are supported by a branch network of 260 plus branches situated in key localities covering all 25 districts to ensure maximum customer access to our range of financial products and services.
• AtM network Our network of over 800+ ATMs ensures access to financial services at any time of day or night and has enabled businesses and individuals to complete their daily financial transactions without the hassle of visiting a bank counter.
• Cash deposit and withdrawal MachinesInfusing the latest in financial system technology our service delivery channel Cash Deposit and Withdrawal Machines eliminate the need to visit a bank counter to safely conduct basic financial transactions.
• Automated Banking Centres Commercial Bank has already introduced Automated Banking Centres that make banking a breeze by promoting self banking services. Located in strategic areas for maximum customer accessibility, our Automated Banking Centres have revolutionised the local banking industry by allowing customers to engage in cash deposits, cash withdrawals, cheque deposits and Online Banking transactions. •weekend and holiday Banking We understand that time is a valuable commodity in the modern hectic pace of life. That is why we have invested in extensive systems to facilitate our customers across the island by establishing over 50 Holiday Banking Centres in strategic locations.
Some of the branches are kept open during holidays whilst some are open during Saturdays and Sundays, ensuring that utmost convenience is provided to customers.
With Commercial Bank’s Weekend and Holiday Banking services you can enjoy your leisure, secure in the knowledge that you have access to banking services throughout the week. ‘Bank on Wheels’ mobile bank branch offers the added convenience of visiting specific locations to facilitate banking.
BAnkinG ChAnnels
29
AwArds And reCoGnition
1. the Best domestic Bank in sri lanka - Asiamoney Country Awards 2018
2. the Best Bank for Csr in sri lanka - Asiamoney Country Awards 2018
3. the Best Bank for Premium Banking services in sri lanka - Asiamoney Country Awards 2018
4. 2018 sri lanka Bank of the year - frost & sullivan Best Practices Awards
5. social Media Brand of the year - ACef Awards 2018
6. the Best transaction Bank in sri lanka - the Asian Banker transaction Awards 2018
7. the Best trade finance Bank in sri lanka - the Asian Banker transaction Awards 2018
8. domestic trade finance Bank of the year , sri lanka - ABf wholesale Banking Awards
9. domestic technology & operations Bank of the year, sri lanka - ABf wholesale Banking Awards
10. domestic foreign exchange Bank of the year, sri lanka - ABf wholesale Banking Awards
11. Best Bank in sri lanka - financeAsia, hong kong
12. Automobile lending initiative of the year in sri lanka - ABf retail Banking Awards
13. sri lanka’s Best Bank - euromoney, hongkong
14. Best internet Bank in sri lanka 2018 - Global Banking and finance review, uk
15. Best Private Bank in sri lanka 2018 - international Business Magazine, uAe
16. Best Corporate social responsibility Practices - sri lanka Csr leadership Awards
17. support and improvement in Quality of education - sri lanka Csr leadership Awards
18. developing sustainable strategies- sri lanka Csr leadership Awards
19. Concern for health - sri lanka Csr leadership Awards
20. Brand leadership Award in the Banking Category - the Golden Globe tigers Awards
21. Best domestic Bank in sri lanka – international finance Magazine, uk
22. Best sMe Bank in sri lanka - international finance Magazine, uk
23. Green Company of the year - Asia Corporate excellence & sustainability Awards
24. outstanding website in the Banking category - Annual international web Awards, usA
25. Best Commercial Bank - sri lanka 2018 - Global Business outlook Awards 2018
26. Best foreign Bank - Bangladesh 2018 - Global Business outlook Awards 2018
27. Most innovative Customer service Banking Brand in sri lanka - Global Brands Magazine, uk
28. Most responsible Bank in sri lanka 2018 - Cfi. Co. uk
29. Best Green Bank in sri lanka 2018 - Cfi. Co. uk
BoArd of direCtors
Mr. k G d d dheerasingheChairman
Mr. s swarnajothiDirector
Mr. M P JayawardenaDeputy Chairman
Mr. s renganathanManaging Director/Chief Executive Officer
Prof. A k w JayawardaneDirector
Mr. k dharmasiriDirector
30
Mr. t l B hurulleDirector
Mr. l d niyangodaDirector
Ms. n t M s Cooray Director
Mr. Pramith rajapakshaCompany Secretary
31
Justice k sripavanDirector
Mr. sanath ManatungeExecutive Director/Chief Operating Officer
32
1. Mr. s renganathanManaging Director/CEO
2. Mr. sanath ManatungeExecutive Director/COO
3. Mr. nandika BuddhipalaChief Financial Officer
4. Mr. isuru tillakawardanaDeputy General Manager-HR Management
5. Mr. hasrath MunasingheDeputy General Manager-Marketing
6. Mrs. sandra walgamaDeputy General Manager-Personal Banking
7. Mr. Prins PereraDeputy General Manager-Treasury
8. Mr. naveen sooriyarachchiDeputy General Manager-Corporate Banking
9. Mr. krishan GamageAssistant General Manager-Information Technology
10. Mr. Prasanna indrajithAssistant General Manager-Finance
11. Mr. Chinthaka dharmasenaAssistant General Manager-Services
12. Mr. selva rajasooriyarAssistant General Manager-Compliance
13. Mr. s PrabagarAssistant General Manager-Operations
14. Mr. Asela wijesiriwardaneAssistant General Manager-Treasury
15. Mr. Priyantha de silvaAssistant General Manager-Credit Supervision and Recoveries
16. Mr. B A h s PreenaAssistant General Manager-Corporate and Trade Services
17. Mr. delakshan hettiarachchiAssistant General Manager-Personal Banking I /SME
18. Mr. kapila hettihamuChief Risk Officer
19. Mr. John PremanathAssistant General Manager-Management Audit
20. Mrs. Mithila shaminiAssistant General Manager-Personal Banking II
21. Mr. M. P. dharmasiri Assistant General Manager-Planning
22. Mrs. dharshanie PereraAssistant General Manager-Personal Banking III
23. Miss. tamara BernardAssistant General Manager Corporate & Investment Banking
CorPorAte MAnAGeMent
33
ContACt us
Commercial house, No 21, Sir Razik Fareed Mawatha, P.O. Box 856, Colombo 1, Sri Lanka.
Phone+94 11 2486000 | +94 11 4486000+94 11 7486000 | +94 11 5486000Fax: +94 11 2449889
swiftCCEYLKLX
information Centre+94 11 2353333
Card Centre+94 11 2353353
skypeCommercial Bank Call Centre
viber: http://chats.viber.com/combanksrilanka
youtube: www.youtube.com/c/ CommercialBankofCeylonPLC
facebook: www.facebook.com/combanksl
website: www.combank.lk
instagram:www.instagram.com/combank.sl
digital Banking +94 11 2353596
remittances+94 11 2353575/577
*Products & product features mentioned in this profile will be changed/updated from time to time. To find out the latest details please refer our website.