BOC

Bank of Ceylon (BoC), the No 1 bank in Sri Lanka has announced Mr. Russel Fonseka as its next General Manager/ Chief Executive Officer. Having joined the BOC in 1990, he has notched up 33 years of service with the banking giant and is currently its Additional General Manager and the CFO. He is to succeed Mr. K.E.D. Sumanasiri, who will be retiring from the bank on 13th January 2023 after a successful stint as the General Manager/CEO.

Mr. Russel Fonseka is a career banker who over the years has successfully steered and given leadership to the various divisions that came under his purview. He has held the positions of Chief Financial Officer, Head of Finance and Planning, Head of International, Treasury and Investments, Head of Retail Banking and Head of Corporate and Offshore Banking. The exposure to many areas of banking would be a distinct advantage as he faces the task of steering the premier bank in Sri Lanka during what looks to be the most turbulent period the country and the globe has faced in recent times.

He holds a B.Sc (Special) degree in Business Administration from the University of Sri Jayawardenepura and a MBA from the University of Southern Queensland, Australia. He has completed the Advanced Management Programme at Harvard Business School, USA as a part of grooming of selected individuals under Bank of Ceylon’s succession planning. He is a senior fellow member of the Institute of Bankers of Sri Lanka and a fellow member of the Institute of Chartered Accountants of Sri Lanka. He serves as a member of the Sri Lanka Accounting and Auditing Standards Monitoring Board and is the immediate past president of the AAT Sri Lanka. He is a director on the boards of a number of Bank of Ceylon’s associate and subsidiary companies.

Whilst steering the country’s largest bank as it navigates through the turbulent conditions, Mr.Fonseka’s task will be to help Bank of Ceylon elevate itself to the next level and utilize its capacities and capabilities to the fullest in assisting in the nation’s economic revival and development-a call to utilize his competencies and acumen to the fullest.


 

 

Sri Lanka’s No.01 Bank, Bank of Ceylon together with the National Carrier, Sri Lankan Airlines (SLAL) geared to introduce BOC Internet Payment Gateway (BOC IPG) facility in offering seamless digital payment experience to customers of SLAL by enabling secure payments across multiple channels and in multiple currencies.

The Agreement Signing Ceremony was held on 30th of August 2022 under the patronage of the Bank’s General Manager Mr. K E D Sumanasiri, Deputy General Manager (Product and Banking Development) Mr. Ajith Karunarathne, Assistant General Manager (Electronic Banking Centre) Mr. Eranga Bandara, Assistant General Manager (Digital Products Promotion) Mr. S A N C Piumal, Assistant General Manager (IT) Mr. Haritha Rajapakshe. Representing the National Carrier, it was joined by the Airline's Chief Exeutive Officer (CEO) Mr.Richard Nuttall, Head Of Worldwide Sales & Distribution Mr.Dimuthu Tennakoon, Group Head Of Information Technology Chamara Perera, Senior Manager (Commercial Services & Support) Conrad Reshantha, Manager ( IT Passenger Services & Cargo Systems) Priyanga Weeraratne,Manager ( Revenue Accounting) S Surendra, Manager (E-Business Development) Bimali Malalasekara.

“The partnership will facilitate the National Carrier to offer seamless online payment experience across different time zones and geographies. BOC IPG facility is set to support the National Carrier to reach a wider customer base and to enhance its business turnover in line with their business expansion plans while adding convenience and ease to its global clientele. We are delighted to partner with SLAL’s digital journey,” BOC General Manager Mr. K E D Sumanasiri said.

BOC IPG enables SLAL to accept multiple payment brands in multiple payment channels using a wide range of digital payment methods from computer to mobile phone. It facilitates MasterCard and VISA cardholders to make payments in their own currencies and the National Carrier to receive payments in major foreign currencies. It further supports the EMV3D secure verification processes with ‘Verified by Visa’ and ‘MasterCard Secure Code’. 

Further, BOC IPG is also Integrated with all key online platforms and mobile apps of SLAL including booking engine, Charika App, IVR, Holidays, Plusgrade and Aviation College.

BOC is the pioneer in introducing payment cards to Sri Lanka in 1989. Presently, it maintains strong relationships with leading global payment schemes such as Visa International, MasterCard International, Chinese Union Pay and JCB. In addition, the Bank has commenced numerous initiatives to facilitate new developments of payment cards and mobile payments in order to safeguard the interest of general public while unlocking growth paths for cooperates. The Bank has been instrumental in leading and shaping the country’s digital payment landscape. As a recognition for its contribution towards promoting digital inclusivity in banking, BOC was recently awarded the prestigious “Overall Gold Award for Excellence in Interbank Digital Payments” at the LankaPay Technnovation Awards 2022 organized by the Lanka Clear Pvt Ltd.

Over the past 83 years in operations, Bank of Ceylon continued to cement its position as the No.01 Bank in the country while serving the national interest, as reflected by numerous global and local accolades. Bank of Ceylon was yet again recognized among world’s top 1,000 banks by ‘’The Banker Magazine UK”. Despite various challenges, BOC maintains a strong balance sheet comprised of an asset base of over Rs.4 trillion and deposit base of over Rs.3 trillion in commanding its local peers. Bank of Ceylon captured the No.1 Banking Brand in Sri Lanka for the 14th consecutive year in the “Brand Finance Lanka’s – Brand Annual” for the year 2022,

while also becoming the sole Banking brand to surpass a brand value over Rs. 50 billion. With over 2,000 touch points spread across the nation, BOC operates over 645 branches connected online and an ATM/CDM/CRM network of over 1350 located in all 25 districts of the country. Bank of Ceylon leads the trade finance and inward remittances market in serving the national interest. Its overseas presence consists of foreign branches in Chennai, Male, Hulhu-Male, Seychelles and a banking subsidiary in London as well as a strong affiliation with the international banking network developed over the years.

Opening doors to a seamless and more convenient banking experience accompanied with digital banking for its Point Pedro customers, Bank of Ceylon Pedro Point branch was recently relocated at its new address No 86, Main Street, Pedro Point.  

The ceremony took place recently with the patronage of the bank’s Assistant General Manager (Northern Province)  Mr.V Sivananthan, Operations Manager (Northern Province) Mr.S Anandaraja, Jaffna Super Grade Branch Chief Manager Mr.K Suwaganasundaram, Regional Manager (Jaffna -East) Mr.U Yogarajasingam, Point Pedro Police Station OIC  Mr.Priyantha Amarasinghe and Point Pedro Branch Branch Manager Mr.R Rathnaraj.

Equipped with CDM and ATM facilities, the relocated BOC  Pedro Point branch stands to  play a greater role in advancing socio-economic well-being of its customers in the region. It is enabled to offer a  enhanced tailor-made banking solutions -to meet customer requirements inclusive of digital banking solutions.

BOC Point Pedro is connected with the network of 646 BOC branches across the country, hence, granting customers with the privilege of carrying out banking transactions to any part of the country through the  Point Pedro branch.

The branch also offers a wide array of banking services to its customers inclusive of deposit products such as current and local or foreign currency savings/fixed deposit accounts, investment plans, retail loan products and special development loans schemes. Moreover, customers can also avail themselves of international debit/credit cards and international money transfer/remittances services. In order to conduct daily banking transactions with greater convenience, customers can also enroll for digital banking services such as BOC Smart online banking, B-APP mobile banking and SmartPay QR scan mobile app through the branch.

 

There has never been time where citizens could come to a common understanding that the success of an individual strongly depends on foreground of the country’s economic development projection. And inadvertently the development of any community or country strongly depends on individual contribution and values upheld by all such individuals. 

Addressing the pressing need to promote thrift and saving habits among Sri Lankans, the country ‘s No.1 Bank, Bank of Ceylon strongly encourage all citizens to engage with the banking stream in what ever way possible to build up their individual savings along with day-to-day thrift habits.  

While encouraging all Sri Lankans for their contribution to the initiative towards building a financially secured future, the Bank extends an open invitation to take the advantage of its special deposit schemes that’s designed to yield a satisfying and a secured return for their hard earned money during these volatile times.

Among number of deposit schemes, Bank of Ceylon ‘100 Days Investment Scheme’ has emerged as one of the unique and popular savings proposition among its customers and within the banking and financial industry. It offers a compelling value preposition to earn high and secure returns on investments within a period of 100 days. The bank has been continuously improving the deposit product with a view to extend the benefits of this unique investment opportunity to a larger population, while enhancing the benefits of this industry pioneering deposit product to its customers. Accordingly, this has been relaunched under three investment plans starting from a minimum deposit of Rs.500,000. The three investment plans includes Rs.500,000 to Rs. 1,499,999,  Rs.1,500,000 to Rs.2,499,999 and above Rs.2,500,000. The short-term investment opportunity present a rare opportunity for the public to gain the maximum benefit of the prevailing high interest rate by simply placing their idling-money or savings that gives lower return. Further, it also act as a cushion for the public to protect the real value of their money under the current high inflationary environment.

Similarly, Bank of Ceylon has come up with ‘200 Days Investment scheme’ which can be opened with a Rs.500,000 minimum deposit comes with attractive returns and other benefits. The public can subscribe to ‘200 Days Investment scheme’ in three investment plans that includes Rs.500,000 to Rs. 1,499,999,  Rs.1,500,000 to Rs.2,499,999 and above Rs.2,500,000 in order to enjoy higher short-term return on their investments with guaranteed security for their deposits.

For the investors who are looking to make higher returns over a longer time period, 'BOC Double Your Investment’ offers to double the investment within just four year period. With a minimum of Rs.1,000,000 investment, the public can join this scheme to double their investment at the end of four-year maturity period. Therefore,  'BOC Double Your Investment’ in no doubt is the most attractive investment proposition for such investors for highest-yielding secure returns.

In addition, these deposit holders also have the opportunity of borrowing up to 90 percent of the deposited amount in this scheme, within the maturity period in order to meet unexpected and urgent fund requirements.

Bank of Ceylon, Deputy General Manager (Branch Operations and Development Banking), Mr. Priyal Silva emphasized that innovative deposit products are critical to cultivate and promote savings among the public in order to elevate their own financial well-being as well as the country’s future economic outlook.

“Bank Of Ceylon has always been a pioneer in cultivating and promoting habit of saving among the public through various initiatives and programs over the time. Our main objective has always been on providing maximum benefits to the customer. We took steps to introduce a range of innovative deposit products which includes  ‘100 Days Investment scheme’,‘ 200 Days investment scheme’ and  'BOC Double Your Investment’ special fixed deposit products in transforming the saving experiencing of our customers. By placing their hard-earned savings in one of these special saving schemes,  our customers will have the opportunity to successfully emerge out of the current economic crisis and continue to calibrate to their life aspirations. At a macro scale,  I believe such innovative deposit scheme will contribute to elevate the economic outlook of the country,” he elaborated.

Bank of Ceylon, the premier financial services organization in Sri Lanka, was also awarded the coveted title of “Bank of the Year 2021 – Sri Lanka” by “The Banker Magazine UK”. The prestigious award was bestowed in recognition of the bank’s contribution to uplifting the lives of all Sri Lankans, while fulfilling its duty as the premier state bank. This award adds yet another title to the multi-award-winning bank that has been listed in the Top 1,000 Banks in the World ranking, with a country ranking of No. 1, again by “The Banker” magazine, UK. Brand “BOC” is named as the No. 1 Banking Brand in Sri Lanka by Brand Finance (lk). The bank has been rated at AA- (lka) by the Fitch Rating (Lanka), which was reaffirmed in the month of July 2021.

 

 

The Bank of Ceylon launched the first ever multi-currency deposit kiosk at the sacred Sri Dalada Maligawa- the Temple of the Sacred Tooth Relic in order to give an opportunity for foreign and local devotees to make donations in foreign or local currencies. This would be the first time such a machine was installed in a historically and religiously important location within Sri Lanka.

The ceremony was held with the participation of the Sri Dalada Maligawa Diyawadana Nilame Mr. Pradeep Nilanga Dela, Director Media and Special Project Mr.Krishantha Hissella, Secretary General of Sri Dalada Maligawa Mr.Rohana Keerthi Dissanayake, BOC’s Deputy General Manager Branch Operations and Development Banking Mr. Priyal Silva, Assistant General Manager Central Province Mr. Sarath Wijesinghe and other distinguished guests.

The kiosk machines accepts cash deposits in Sri Lankan rupee, US Dollars, Sterling Pounds, Singapore Dollars, Chinese Renminbi, Japanese Yen, Thai Bath and EURO. The machine is also responsive to Eight languages which are Sinhala, Tamil, English, Chinese, Thai, Russian, Hindi and Japanese.  The donations received through this kiosk machine are deposited in respective local and foreign currency accounts maintained in the name of Sri Dalada Maligawa. The machine generates a special receipt with the name of the donor acknowledging the donation and appreciating the generosity. The project was executed by the Product Development and Banking Development Division of the Bank of Ceylon 

The initiative is also a part of the Bank’s Corporate Social Responsibility aimed at preserving Sri Lankan Heritage and opening them up to generous donors who wish appreciate and admire those monuments thus enabling such to be preserved and protected for more years to come. On the other hand, this enables foreign Buddhist devotees who embodies the belief of “Dhana” to open themselves to the blessings of practicing a good deed.

BOC City office reopens at its Historic premise in Colombo 1.

Embraces the modernity with a face-lift whilst preserving its prestigious historic value.

 

 

The historic “City Office” building of the country’s No.1 Bank was ceremoniously opened after being refurbished to add more glamour and modernity to its historic value. The ceremony took place in line with the bank’s 83rd Anniversary held recently on August 1st 2022 with the participation of the Chairman Mr.Kanchana Ratwatte, General Manager Mr.K.E.D. Sumanasiri, the Additional General Manager Mr. Russel Fonseka, members of the Corporate and Executive Management and other distinguished guests including long standing customers of the bank. The DGM Branch operations and Development banking Mr.Priyal Silva, AGM Western Province Central Mrs.Ruchindra Perera and staff members of the City Branch officiated the ceremony.

 

The building is the premise to the first bank-branch of the Bank of Ceylon (BOC) where, Sri Lanka’s first indigenous modern bank was established by Sir Andrew Caldecott, the Governor of Ceylon on 1st August 1939 located at No 41, Bristol Street, Colombo 01. Hence the building itself has a long historic value that enriches BOC’s 83 yearlong heritage.

 

The City Office Building is solely owned by the Bank of Ceylon and is one of historical buildings located in Colombo fort area as recognized by the Department of Archaeology. Bank of Ceylon takes pride in maintaining this historical building for more than eight decades preserving its historical values for the nation.

 

As part of preserving its historic value for further more whilst adding the sophistication required for modern customers the bank took steps to fully renovated the City Office Building with careful attention to its originality. By now the City Office has reinstated in the new refurbished building that has come back to life with its original prestige and added digital convenience to serve all its invaluable customers with the same warmth and care as ever before.

With over 2000 customer touch points across the country, the Bank of Ceylon, the No.1 banking Brand in the country awarded by the Brand Finance Lanka. It was also awarded the coveted title of “Bank of the Year 2021 – Sri Lanka” by “The Banker Magazine UK”. The prestigious award was bestowed in recognition of the bank’s contribution to uplifting the lives of all Sri Lankans, while fulfilling its duty as the premier state bank. This award adds yet another title to the multi-award-winning bank that has been listed in the Top 1,000 Banks in the World ranking, with a country ranking of No. 1, again by “The Banker” magazine, UK. Brand “BOC”.

 

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Sri Lanka’s No. 1 Bank, Bank of Ceylon, marked its 83rd Anniversary on Monday, 1st August 2022. The Bank celebrated the occasion beginning with a multi-religious ceremony at the Bank’s Head Office with the participation of distinguished guests comprised of customers and well- wishers.

The event was held with the patronage of the Bank’s Chairman, Mr. Kanchana Ratwatte, Members of the Bank’s Board of Directors, the General Manager, Mr. K. E. D. Sumanasiri, and the Corporate and Executive Management and Bank officials. In line with the ceremony, the branch network also celebrated this important milestone at their own premises with the participation of customers and well-wishers.

To mark this special day, BOC symbolically launched the “My Health” account emphasising its innovative spirit in delivering novel value additions to customers. In addition, the Bank also launched BOC Foreign Circle, a specialised unit geared to delivering superior quality to overseas based customers.

Of further note is the opening of the newly refurbished Bank’s historically significant 1st branch at 41, Bristol Street, Colombo 1, known as the  “City Office” on the same day.

The Bank’s Chairman Mr. Kanchana Ratwatte said, “I believe it is a commendable achievement for a corporate brand to reach its 83rd anniversary in its journey. As a trailblazer in the industry and a dedicated corporate citizen, Bank of Ceylon (BOC) commemorates this day with humility. With a rich heritage that has evolved along with Sri Lankan culture, and as the No. 1 Bank in the country, BOC’s purpose has always been to enrich the lives and the livelihood of the citizens of Sri Lanka. Hence, innovation and developments towards digitalisation is an organic process within the bank. I wish to take this opportunity to thank our valued customers and all other stakeholders on behalf of the Bank for the confidence placed on the bank and inspiration given to continue the Bank’s legacy”. 

“Our Journey as the No. 1 Bank in the country has always been a challenging, yet inspiring one,” stated the General Manager of Bank of Ceylon, Mr. K. E. D. Sumanasiri.

“We must thank all our staff members especially, including those who were there since the inception, our loyal customers and valued stakeholders for setting the foundation that the Bank could build itself strongly and steadily to survive and thrive even during strenuous times. Bank of Ceylon ensures that it upholds the values that it was built on and ensures that it has a strong footing both locally and internationally. As the largest bank that boasts of an asset base that exceeds four trillion rupees, BOC ensures that it redistributes its wealth to enhance the country’s wellbeing, through a strong inter-connected branch and digital network and a product portfolio that is developed to cater to the needs of our customers around the clock, wherever they are. We have introduced new initiatives such as “SME Circle” and “Export Circle” by taking a step to further develop entrepreneurship within the local SME and export sectors. This was an extension of BOC’s decision to assist customers through specialised concessionary schemes to overcome continuous economic challenges that took place in recent times. As a prominent financial institution, we are also committed to build a financially and digitally inclusive community aiming for a positive impression on economy.” Mr. Sumanasiri further added.

From the inception of the Bank, with the opening of its first branch, the “City Office Branch”, Bank of Ceylon has increased its footprint to include a network of up to 649 branches, and 1,415 ATMs, CDMs and CRMs across the country. Its overseas presence includes branches in Chennai, Male, Hulhu-Male, Seychelles and a banking subsidiary in London. BOC has systematically established its roots within every facet of banking and finance, simultaneously building a strong affiliation with the international banking network. With these strong ties BOC leads the trade finance and inward remittances market in Sri Lanka.

Adopting the latest digital banking technologies, the Bank successfully embarked into green banking where it accommodated strategies to reduce its carbon footprint and increase its usage of renewable energy. BOC has built its strategic green banking initiatives according to United Nation’s SDG guidelines to ensure that the intended value is generated to all stakeholders.

Being recognised by Brand Finance Lanka as the Country’s No. 1 Banking Brand with a brand value of over Rs. 53 billion, Bank of Ceylon boasts of a strong balance sheet with assets worth over Rs. 4 trillion and deposits of over Rs. 3 trillion.

“The Banker” Magazine U.K. named Bank of Ceylon as the “The Bank of the Year 2021” and also recognised it among the “Top 1000 Banks” in the world with a country ranking of No. 1, again by “The Banker” magazine, UK.

“SLIM-Kantar People’s Awards 2022”, adjudged Bank of Ceylon as the “People's Service Brand of the Year 2022” and “the People’s Banking Services Brand of the Year 2022,” which are two prominent awards in the ceremony based on a people’s vote. In recognition of the contribution towards promoting digital inclusivity in banking, BOC was awarded the prestigious “Overall Gold Award for Excellence in Interbank Digital Payments” at the LankaPay Technnovation Awards 2022 organised by the Lanka Clear Pvt Ltd.

With many prestigious accolades and recognition under its belt, Bank of Ceylon is geared to strive further to empower and enable the nation through excellence in banking.

 

Bank of Ceylon, Sri Lanka’s No. 1 banking brand was once again listed among the world’s top 1,000 banks listing, with a ranking of 800, up 53 places from the previous year, making BOC the highest ranked Sri Lankan bank in the listing’s history.


Highlighting the Bank’s capital health, the inclusion in the ranking by The Banker Magazine UK once again reaffirms Bank of Ceylon’s robust Tier 1 capital adequacy and asset base, further cementing the Bank’s standing as the No. 1 bank in Sri Lanka as announced by Brand Finance Lanka this year.

Compiled annually from a database of over 5,000 banking entities from across the globe, The Banker Magazine’s Top 1,000 World Banks listing is considered as the most comprehensive guide to a bank’s standing globally.

Reviewed against the backdrop of the aftermath of the global pandemic and recession that has financial institutions hard hit, the ranking showcases Bank of Ceylon’s asset base and the steps taken to mitigate the fallout, which are once again, reflected in the Bank’s performance indicators as at March 2022.

“Bank of Ceylon’s stellar performance as a resilient leader amidst a highly volatile environment overcoming many challenges is a clear indicator of both the Bank’s robust performance and role as the clear leader in the banking industry in Sri Lanka. We are justifiably proud of this global recognition and achievement, so richly deserved,” commented Mr. Kanchana Ratwatte, Chairman of Bank of Ceylon.

As reported in the Group’s interim financial results, Bank of Ceylon is the first local bank to post assets in excess of 4 trillion rupees and deposits of over 3 trillion rupees.

Highlighting the contribution of the Bank’s loyal customer base, General Manager of Bank of Ceylon, Mr. K. E. D. Sumanasiri said: “much of the success for our continued performance over eight decades of operation are our loyal customers who continue to choose Bank of Ceylon as their preferred financial services provider. We are humbled and thankful for their unstinted loyalty over the years and are pledged to continue to innovate for greater inclusivity as we surge forward.”

With over 2,000 touchpoints spread across the nation, BOC operates over 645 branches connected online, and an ATM/CDM/CRM network of over 1350 located in all 25 districts of the country.

As the leading local bank, Bank of Ceylon continues to deliver on its mandate of fostering the SME sector and ensuring funding of large infrastructure development in the nation, furthering the lives of all Sri Lankans.

With the aim of providing a seamless banking experience along with the latest digital banking solutions, the Bank of Ceylon (BOC) recently shifted its Jaffna Bus Stand branch to a new building in adding more convenience to its customers.

 

The opening ceremony took place with the patronage of the bank’s Assistance General Manager Northern Province Mr. Vallipuram Sivananthan with the participation of Operations Manager Northern Province Mr.S Anantharajah, Chief ManagerMr.K Sivagnanasundaram, Area Manager Mrs.N Sunrendraraj and Jaffna Bus Stand  Branch Manager Mr.S Subakajan. Dr. A. Jeyakumaran Regional Medical Officer MOH Nallur, Anti Malaria Campaign Jaffna was also among the distinguished guests.

BOC’s modern facility in Jaffna Bus Stand Branch will provide customers with access to full-range of modern banking services including digital banking channels under one roof. The Bank aims to play a greater role in uplifting   socio-economic wellbeing of the people in the region by further enhancing its service quality.

As BOC Jaffna Bus Stand Branch is connected with the network of 648 BOC branches across the country, the customers have the privilege of carrying out transactions with any part of the country through the BOC branch network.

This fully equipped branch offers a wide array of banking services to its customers inclusive of deposit products such as current and local or foreign currency savings/ Fixed Deposit accounts and investment plans and retail loan products and special development loans schemes. The Customers can also avail themselves of Debit or Credit cards and international money transfer/remittances services.

The Customers of Jaffna Bus Stand branch can also register themselves for a range of digital banking services such as BOC Smart online banking, B-APP mobile banking, SmartPay QR scan mobile-app to conduct daily banking transactions with convenience.  Furthermore, they also can fulfill some of their key banking needs including opening of new accounts and applying for personal/ housing  loans via online.

 

 

The Bank of Ceylon (BOC), continues to lead the industry as the No.1 Banking Brand in the country for the 14th consecutive year in the country’s leading Brands Billboard “Brand Finance Lanka’s – Brand Annual” for the year 2022. Standing resilient as ever, Bank of Ceylon is the only Banking brand to surpass a brand value over Rs. 50 billion.

Revolving around Sri Lankan aspirations, ensuring financial security and building confidence within the community to venture into new opportunities, BOC has been a resilient partner throughout its existence to date. With a unique depth of perception of the socio-economic landscape, BOC successfully managed to reach all segments of Sri Lankan society by promoting financial inclusivity specially to include those who are not within the mainstream banking system.

Commenting on the achievement the Chairman, Mr. Kanchana Ratwatte stated “BOC as an established indigence brand with roots running deeply into Sri Lankan heritance, always had so much gratitude on the trust placed on the brand by all its stakeholders. The resilience BOC has shown as the leading banking brand in the country is built through sheer commitment and dedication sustained over many decades based solely on the purpose to serve our people. During this time of unimaginable crisis, our promise goes to all our fellow Sri Lankans that, we at BOC will remain as the trusted financial partner and will strive towards improving the economic wellbeing of the nation as always. My humble appreciation goes to everyone who has been in this journey together with BOC at this juncture” he adds.

“I consider BOC, being named as the No.1 Banking Brand for 14 consecutive years as an unprecedented achievement. We wish to take this opportunity to thank and extend our gratitude to our loyal customers and all stakeholders for inspiring and encouraging us to strive towards excellence at all times. Meeting the evolving demands of our community we assure our customers and the country that the Bank will always move forward fulfilling the agenda to serve our people as we have always done,” stated the Bank’s General Manager, Mr. K. E. D. Sumanasiri.

A brand that grew over time as a responsible corporate citizen that resonated with the aspirations of Sri Lankans from all walks-of-lives, BOC counts is presence in all parts of the country with an interconnected network of over 640 branches and over 1400 ATM/CDMs and CRMs enabling 24x7 banking services.

With the view to increasing its footprint beyond Sri Lanka, BOC established its very first overseas branch in as early as 1949 in London, which was later converted to a fully-fledged banking subsidiary of BOC. Later the bank expanded its overseas branch network by opening units in Chennai, India, Male, Hulhu-Male and in Seychelles.

Empowered by the trust built over many decades in collaboration with the international banking community, Bank of Ceylon currently maintains foreign correspondent relationships with over 1,000 foreign banks and exchange houses.

BOC embarked on its digital transformation journey as early as 2007 by transforming its entire branch network and ATM network to an interconnected system which further empowered its customer base with the convenience of 24x7 banking from anywhere in the country. The Bank also adopted a full-scale online and mobile banking platform to enable cashless transactions, adding synergy to the local banking industry, which in turn became of paramount importance in keeping the country’s economy moving.

Growing in leaps and bounds, BOC’s balance sheet as at March 2022, recorded over Rs. 4 trillion in assets, Rs. 3.1 trillion in deposits and Rs. 2.4 trillion in its loan book, in addition to its operational capacity and reach. Due to its solid financial standing gained over eight decades of successful operation, the Bank is the trusted finance partner for infrastructure development projects that are of significant importance to the country. In addition to investing in socially responsible projects, BOC’s profits as a state institution are always invested back to the nation and its people.     

In response to the most pressing need of the economy, BOC strategically facilitates the recovery of much needed foreign currency inflow, through its strong foreign representative network stationed where high volume of expatriate foreign remittances generated. The Bank ensures a seamless and secured transactions over the banking system to intended beneficiaries. BOC has even gone a step further by introducing a special incentive scheme encouraging expatriates to remit through the legit banking system.

Reflecting on the proud journey of eight decades, BOC proudly continues to live up to its responsibility to the Sri Lankan community in multifaceted ways. Apart from reaching key financial and operational milestones as the leading commercial bank in the country, the Bank also strongly delivers on its corporate social responsibility. Among such initiatives are its commitment towards the betterment of environment and social aspects and upholding the principles of good governance.

BOC’s gradual transformation towards ‘Green Banking’ went hand-in-hand with its digital adoption, exploring opportunities in technology that would facilitate incorporation of products and service delivery while staying committed to reducing its carbon footprint. The Bank has successfully incorporated United Nations Sustainable Development Goals (SDGs) as blueprint along with its sustainability policy to measure its progress over time.

Bank of Ceylon, as the premier financial services entity in Sri Lanka, was awarded the coveted title of “Bank of the Year 2021 – Sri Lanka” by The Banker Magazine U.K. The prestigious award was bestowed in recognition of the Bank’s contribution to uplifting the lives of all Sri Lankans, while fulfilling its duty as the premier state bank. This award adds yet another title to the multi-award-winning bank that has been listed in the Top 1,000 Banks in the World ranking, consecutively since 2012, with a country ranking of No. 1, by “The Banker” magazine, UK.

“LankaPay Technnovation Awards 2022” honoured Bank of Ceylon as a ‘Digital Superhero’ by awarding it the “Overall Gold Award” for Excellence in Interbank Digital Payments. Bank of Ceylon ensures the continuity of its contribution to the socio-economic empowerment of all Sri Lankans through the banking system and continues to deliver its best towards the socio-economic development of the country.