BOC

Continuing its heavy focus on entrepreneurial and economic development island-wide, BOC has led the way in CBSL’s ‘Saubagya COVID-19 Working Capital Loan scheme, by being set to single handedly disburse Rs.42.8 Billion of the allocated total of Rs.150 Billion by CBSL. A sum of Rs.34.6 Billion has already been fully disbursed by the bank, which is almost to 83% of the total number of loans BOC has successfully registered with CBSL. 

The program officially termed the ‘Saubagya COVID-19 Renaissance Facility’ was launched by CBSL to revive businesses adversely impacted by the COVID-19 pandemic, so as to mitigate the negative effects on living conditions countrywide and the national economy. Introduced in 3 phases, the 4% interest working capital loans offered through the program have helped businesses continue operations and support their employees, while contributing to the country’s economic revival. 

Participating financial institutions such as BOC maintained full adherence with the strict loan eligibility and application criteria set out by the Regional Development Department of the Central Bank of Sri Lanka. From loan assessment and vetting to forwarding, BOC’s stringent internal approval procedures fully complemented CBSL’s loan scrutinization process, ensuring as large a number of loans as possible received CBSL approval.

The working capital loans offered have allowed businesses of all sizes and across all industries, to continue operations unimpeded. A sizable 58% of the loans disbursed by BOC as part of the program have been in the SME Service sector, with a further 33% in the Agriculture sector. This highlights the critical nature of the ‘Saubagya Working Capital Loan Scheme’ to small and rural enterprises islandwide and in the revival of key sectors of the national economy.

For BOC, this represents a continuation of their renewed focus on Micro and SME development islandwide plus financial literacy and awareness in rural areas, through their industry-reputed ‘Divi Udana’ development loan scheme. Running parallel to CBSL’s ‘Saubagya COVID-19 Working Capital Loan’ scheme, BOC’s ‘Divi Udana’ scheme continues to support the government’s social and economic development goals, with emphasis on sectors that have been particularly affected by the COVID-19 pandemic. A considerable number of loans have been granted under BOC’s ‘Divi Udana’ development program so far, across sectors including agriculture and trading as well as service-oriented areas such as IT.

Of equal importance, full-scale awareness programs on entrepreneurship, loan facilities plus general financial awareness and literacy, have been conducted island-wide through the BOC ‘Divi Udana’ program, leading to improved economic and social well-being across the country. Bank of Ceylon’s extensive expertise and capabilities in the areas of entrepreneurship and post crises rebuilding have allowed them to spearhead CBSL’s ‘Saubagya COVID-19 Working Capital Loans’ program while parallelly producing entrepreneurs islandwide through its very own ‘Divi Udana’ development loan scheme. These initiatives places BOC in a stronger position to create lasting economic and social value across the country while furthering its reputation as the pioneer in national economic development.

 

As the global condition worsens, the safety of cash based transactions is put under scrutiny. There has never been a time that is better suited to enter into a cashless digital society as the present. Aptly dedicated as the “Year for Digital Transactions”, 2020 has given banks and financial institutions bonus incentives to further speed up the process of getting customers on-board digital platforms.

Bank of Ceylon has remained in the forefront of digitally enabling its customers even before there was a shift in the tides concerning the global conditions. Its digital presence has reached its peak during these challenges, and is further geared to take part in the endeavor to get customers on-board the cashless digital ecosystem.

LANKAQR is a common standard issued by the Central Bank of Sri Lanka and Lanka Clear to strengthen the QR payment technology of the country. This technology permits customers to pay their bills from their own mobile devices from wherever they reside. Assistant General Manager for Digital Banking S. Aruna Kumara elaborated on the QR payment technology, and the manner that the bank envisions to take LANKAQR across the entire nation.

What is QR? How does it impact the world of banking?

QR stands for Quick Response. This is a code that is printed in bills or the packaging of products. Scanning this code takes a piece of information from a transitory media and put it in the customer’s mobile device. A QR code is more useful than a bar code since they can store and digitally present much more data. This includes URL links, geo coordinates and texts etc.

In short, this is merely a simple scan of a code which is used as a payment mechanism. This is a safe, convenient and quick way to do payments and transactions. Gone are the days where customers have to wait in line to pay their accumulated bills. The hassle of exchanging currency notes which could be contaminated by a myriad of unseen bacteria and germs is no longer a matter of concern. . Therefore the ideal solution is to be able to settle these transactions through a mobile device.

We exist in a time where following traditional ways of doing transactions is no longer an option. It is a must to move away from these ways and adapt digitalized ways of doing payments via mobile devices. Overall, the global digital payments percentage is rapidly increasing, and it is a clear sign that the customers perception regarding a cashless society are changing.

What led to BOC partnering with Lanka QR?

The Central Bank of Sri Lanka introduced the National Quick Response (QR) Code Standard for local currency payments in 2018 with the aim of establishing a standard for payments carried out on mobile phones. All Licensed Banks, Licensed Finance Companies and Licensed Operators of mobile phone based E-Money systems who offered QR code based payment solutions were requested to conform to the new specification.

This timely initiative encourages the public to take part in cashless payments. BOC is proud to claim that it is one of the first banks to earn the Lankapay certification. Across the years, BOC has proved consistently that it strives on new innovations, and is optimally geared to support the initiatives launched by the Central Bank of Sri Lanka.

How does BOC optimally integrate the QR technology into their available banking products?

Bank of Ceylon has introduced a QR payment app in the form of “Smartpay” which gives customers a seamless QR payment experience.

Smartpay is a mobile app with an easy to use UI/UX. Currently, Smartpay is enabled with Current Accounts and Savings Accounts. It has an inbuilt interoperability feature which permits customers to pay at any LANKAQR certified merchants. In due time, BOC intends to develop and upgrade the Smartpay app into a digital wallet in the near future.

What is BOC’s role in the ongoing campaign “Rata Purama Lanka QR” carried out by the CBSL?

BOC, as the leading bank in the country, remains in the forefront of driving the “Ratapurama LANKAQR” campaign. It extends its unwavering support for the Central Bank of Sri Lanka’s digital vision for 2020.

The campaign officially launched on the 12th September, at Matale and is expected to roll out around the country with LCBs, FIs and Telcos working together on one common objective of popularizing the LankaQR as a preferred payment mechanism. The vitality of cashless payments is expected to be inculcated in minds of the beloved public through these campaigns.

Another session of the Ratapurama LANKAQR was conducted on the 5th of October under the patronage of Honorable Prime Minister Mahinda Rajapaksa. During the session, it was noticed that BOC yet again was in the spotlight as one of the main contributors as the bank introduced QR payments for ????? (Itukama) COVID 19 healthcare and social security fund. By doing so, BOC made its valuable presence known whilst increasing its footprint in social responsibility during the process. Minister of Trade, Dr. Bandula Gunawardena made the first LankaQR payment to Itukama Fund at this event

Hon. Dr. Bandula Gunawardena, Minister of Trade Launching LANKAQR by making a donation to Itukama Covid 19 fund using LANKAQR. The State Minister of Money and Capital Market and State Enterprise Reforms Hon. Ajith Nivard Cabraal, Director Central Bank Payment and Settlement Mr.D. Kumaratunga, Bank of Ceylon’s Assistant General Manager Digital Products Promotions Mr. Aruna Kumara are also in the picture.

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How does BOC advocate the use of QR technology?

QR technology is one of the latest technologies introduced across the world. Hence moving into QR payment is one of the best decisions that regulators and stakeholders who are involved in the process can make.

Bank of Ceylon has thus far amassed more than 25,000 merchants and more than 150,000 users across the country. This proves that BOC offers one of the most used QR payment apps that is available in the market. The Smartpay has earned a Google rating of 4.6 stars. This justifies the customer confidence, strength, security and the reputation built by the strong BOC brand. Furthermore, with the interoperability feature, Smartpay customers are able to use the app at any merchant location which facilitates LANKAQR payments.

What makes BOC the best innovative bank in Sri Lanka?

Bank of Ceylon, with its 81 years of rich history, has introduced many “first” to the industry, and has led the journey rather admirably. In terms of QR developments, BOC were the 1st to introduce QR payments to utility bill payments through the introduction of Mobitel LANKAQR. It is also the pioneer who introduced dynamic QR for utility billers through the introduction of Sri Lanka Telecom dynamic QR for bill payments. Now, with dynamic QR, SLT customers can pay their bills with any LankaQR certified app with just a single click!

There will be more new innovation in the pipeline for the Smartpay app to enhance the digital experience of BOC’s valued customers. Furthermore, BOC has established close associations with other technology partners and Fintechs, and working in synergy to introduce few new initiatives to enrich the payment ecosystem.

What is your message to the society?

His Excellency President Gotabaya Rajapaksa has emphasized the importance of a digital economy and further listed digital governance via adoption of IT, electronic payment systems and ecommerce as national priorities which support the digital initiatives to drive the country to the next level. In this backdrop, BOC, as the premier government bank, fully pledge its support and is committed to drive these digital initiatives across all sectors with its strong network and diverse customer base. BOC constantly invest on digital infrastructure and very soon will set up an “Innovation Center” to harness creative innovation and provide a platform for new startups and aspiring entrepreneurs.

Moving onto the digital commitment, BOC hopes to improve the systems and efficiencies whilst eliminating spill over connected with cash payments. The Digital 2020 vision of CBSL is also geared towards enabling the country to be digitally empowered. Increasing awareness regarding the benefits of digital adoption, usage and its security are the key areas that all stakeholders should be communicating to their customers and thus collectively increasing digital usage would be one of the main priorities.

In this regard, BOC has implemented numerous initiatives to increase digital usage across its diverse customer base. The results achieved through these initiatives are very encouraging. Given the circumstances that are experienced due to the COVID 19 pandemic, the importance of digital usage has been aptly highlighted. Taking this momentum further would be BOC’s ultimate objective.

 

 

With the intention of facilitating newly appointed doctors to upgrade their soft skills required to deliver a quality service, Bank of Ceylon sponsored the Good Intern Program organized by the Government Medical Officer’s Association (GMOA) recently. Being a Government Bank that assists the cause of developing the country’s social and economic well being, the Bank of Ceylon has been sponsoring this program at several occasions. This year it was the 8th consecutive year of “Good Intern” program is jointly organized with Ministry of Health and World Health Organization by the GMOA. The inauguration ceremony of this year’s ceremony was held at the Nagananda International Institute and was graced by His Excellency the President Gotabaya Rajapaksa as the Chief Guest.

 

 

The Bank of Ceylon’s Wilgamuwa branch in the Central Province was relocated recently to add convenience together with novel digital banking technology to customers in the area. BOC Wilgamuwa branch was ceremoniously opened at the Hettipola, Wilgamuwa. The Bank’s Chairman Mr. Kanchana Ratwatte graced the ceremony as the Chief Guest and the General Manager Mr. D.P.K. Gunasekara was the Guest of Honor for the event. The Bank’s Senior DGM Human Resource Mr.K.E.D. Sumanasiri, DGM Sales and Channel Management Mr. Priyal Silva, AGM-Central Province, Mr.S.W.M.S. Wijesinghe, Operations Managers and all other province staff were also present on the occasion.BOC Wilgamuwa branch Manager together with staff members officiated the event and customers and well wishers of the branch too attended.

BOC Wilgamuwa branch will offer a wide array of banking services to its customers such as current and local or foreign currency savings/ Fixed Deposit accounts, children’s and Senior Citizen’s savings accounts and saving plans, housing and personal loans, special loans schemes such as Divi Udana loan schemes that comprises of 22 loan schemes for SME and Micro entrepreneurs beginning with the lowest rate of 4% (granted for agriculture, tourism, exports, tea, apparel, IT, logistics and spices cultivation), education loans, Leasing and pawning facilities. Customers can also avail themselves of Debit or Credit cards, Micro and SME financing facilities and international money transfer/remittances services. The Wilgamuwa branch is connected to the rest of the 646 branches through a centralized network thus allowing customers to transact real-time with any of the branches in the network spread across the country. The 24 hour self-serving ATM/CDM at the branch gives customers the freedom to transact at their convenience anytime of the day. The Bank invites all residents of the area to experience superior banking services at this branch.

Bringing in the digital aspect of banking to every nook and corner in the country Bank of Ceylon has strategically spread its technology to all its branches. Customers of Bank of Ceylon are digitally empowered to transact anytime of the day with its interconnected 24 x 7 operative ATM/CDM and CRM network which consists of over 1200 customer service points spread across the country. Along with the Bank’s traditional brick and mortar operation centre, the branch, BOC has extended its reach so that customers could transact anytime, from anywhere via Smart online banking and B-APP mobile banking to conduct daily banking transactions with convenience. Apart from these banking channels to conduct regular transactions, BOC’s mobile applications such as SmartPay and SmartPassbook have convinced customers to carry out transactions confidently through digital channels. Built as a customer initiated SmartPay- payment method, customers can enjoy the convenience of cardless and cashless payments for their day to day necessities. It will be an ideal choice for today’s customer who seeks convenience, simplicity and speed as key factors in their payment experience. SmartPassbook has become popular for its simplicity to get instant updates and check account balances immediately without having to log-in through a password. With value added convenient banking, customers of the bank are empowered to manage their life more meaningfully by saving time and money.

 

A career banker who counts over 40 years of professional industry experience, Mr. D. P. K. Gunasekera has assumed his duties as the General Manager of Bank of Ceylon with immediate effect. 

Mr. Gunasekera had previously held key positions at BOC including Senior Deputy General Manager (International, Treasury and Investment), Deputy General Manager (Corporate & Offshore Banking), Assistant General Manager (Overseas Branches), plus the role of Assistant General Manager (Corporate Relations) beginning October, 2010.

 

He began his career in 1980 at BOC in the area of retail banking and served in branches right across the island. Going onto specialize in Treasury Operations, his particular focus included high-impact areas including foreign exchange trading, money market operations, and Government securities. 

 

Parallelly, he holds international experience as well, receiving exposure across a wide range of operational aspects at Bank of Ceylon UK Ltd., London, while also undergoing specialized training in foreign exchange trading at both American Express Bank London and Lloyds Bank London. 

Mr. Gunasekera also functions as the director of several Bank of Ceylon subsidiaries and associate companies.

 

Having graduated from the University of Sri Jayewardenepura, Sri Lanka, with a Bachelor of Science Special Degree in Business Administration, he also possesses a Post Graduate Diploma in Business and Finance Administration from the Institute of Chartered Accountants of Sri Lanka and an MBA from the University of Southern Queensland, Australia. He is also an Associate Member of the Institute of Bankers of Sri Lanka.

 

Drawing on his extensive industry experience and expertise, Mr.D. P. K. Gunasekera is well-placed to steer Bank of Ceylon’s vision while furthering their legacy as Bankers to the Nation.

International symposium on innovative banking bounced back gloriously following the Covid -19 pandemic. The final round presentations of selected participants via online platforms and onsite was held at Bank of Ceylon, Head Office.

This was a novel encounter for all participants and panel of judges. All sessions were very interactive and the panel members highly appreciated the enthusiasm of all contestants and their contribution towards leading future banking to a remarkable destiny. Participants brought their illustrative explanations to the submitted proposals/concepts before the expert panel and were exposed to commentaries at Q & A session. This is a significant accomplishment of this enormous initiative for “Bank of Ceylon” moving forward with the objective of leading and directing the local financial fraternity to an innovative arena.

 

The distinguished panel comprised of University Academics, IT Professionals, Veteran Bankers and Industry experts. The coordinating co-chairs of Innovbank Dr. Samantha Rathnayake, the Management Consultant and Faculty Member of Postgraduate Institute of Management, University of Sri Jayewardenepura and Dr. Ajantha Athukorale, the Deputy Director, University of Colombo School of Computing headed the panel.

Bank of Ceylon launched the International Symposium on Innovative Banking to commemorate Bank’s 80th anniversary and “Innovbank” 2020 curtain was raised on 4th of November at BOC Head Office Auditorium with the theme of “Innovative Banking in a Smart World”. This is an extra effort of the Bank identifying its responsibility towards the industry betterment as a leading bank. This is a knowledge-sharing hub, which invite and bridge all interested innovators on a common platform to present their proposals and concepts for the wellbeing of the industry. Innovbank 2020 called for papers under six symposium tracks namely Fintech solutions in Banking, Business Process Re-Engineering in Banking, Innovative Financial Products and Services, Artificial intelligence in the financial industry, MIS and Big Data Analytics for decision making in Banking and My Dream Bank track exclusive for students.

Papers and proposals collected until 4th of February 2020 were reviewed in three different phases involving three different panels including academics, professionals, practitioners and industry veterans to add more transparency. The final symposium will be held in October 2020 with a grand audience recognizing Gold, Silver and Bronze medal winners and merit award winners with financial and non-financial awards.

Bank of Ceylon as the curator of this pitch is confident in giving the expected bounce back for the industry betterment with Innovbank. This creates an industry dialogue by Bank of Ceylon as the front-runner in leading the way through innovation. Bank of Ceylon as a government entity understood this initiative as a national responsibility to enrich the nation with latest banking technologies by onboarding them on efficient financial practices and hopefully continuing the INNOVBANK for future innovators too.

In its series of Bank’s CSR initiative on Micro and SME entrepreneur development to revive from COVID 19 pandemic adversities, Bank of Ceylon North Central Province has organized an awareness program to educate Micro/ SME entrepreneurs in the area. Customers were able to discuss their concerns with regard to loan facilities directly with the bank officials at this program. The program held at the Provincial Council Auditorium Anuradhapura recently, with the patronage of the Bank’s Chairman Mr. Kanchana Ratwatte. Senior Deputy General Manager Human Resource Mr. K.E.D. Sumanasiri, Deputy General Manager Sales and Channel Management Mr. Priyal Silva, and Deputy General Manager Retail Banking Range I Mr. E.M. Jayarathne, Chief Marketing Officer Mr. Sameera Liyanage and Assistant General Manager North Central Province Mr. Ranjith Welikannage also participated for this event. Micro and SME Entrepreneurs engaged in Agriculture sector businesses participated. Small scale self-employed customers also participated for the program. Apart from the awareness program, participants were guided to build a relationship with the respective Area Manager for longer term assistance.

In regard to revive the economy after the COVID 19 pandemic, Bank of Ceylon has extended a gamut of benefits for the development of micro and SME sector in the country to rebuild their businesses and sustain the functioning.The Bank has so far been able to disburse loan facilities to entrepreneurs with special attention to agriculture, tourism, exports, tea, apparel, IT, logistics and spices cultivation. In order to encourage more entrepreneurs to come forth and make a significant impact on the economic development of the country, the bank provides these facilities at what are probably the lowest interest rates in the market.

The Bank wishes to extend these facilities to many customers as possible to ensure that there will be a significant impact on the economic and social wellbeing by building as many successful entrepreneurs as possible.

The initiative of Central Bank of Sri Lanka to empower the Sri Lankan community with the knowledge of Lanka QR took flight on the 12th of September 2020 in Matale. Bank of Ceylon and other Lanka QR certified financial institutions rendered their relentless support to build awareness on QR Payments with merchants and users in the town of Matale.

Delegates from Head Office including Chief Information Officer, Mr. Ruwan Bakmeedeniya, Assistant General Manager- Electronic Banking, Mr. Aruna Kumara, Assistant General Manager –IT (delivery Channels), Mr. Asoka Karunaratne, Assistant General Manager- Marketing, Mr. Saman Wickramasinghe, and Assistant General Manager- Central Province, Mrs. Manoshika Herath and her team made it a productive and colourful event.

The event enlightened the public with the power of Lanka QR. It was a novelty experience for some, and the Bank of Ceylon is appreciative of the enthusiasm shown by the attendees. This is merely the launching pad, and the Bank of Ceylon is geared to see the entire endeavor through till the end. The campaign is set to go on till November, and the Bank of Ceylon urges the public to be on the lookout and stay tuned for the announcement of the next grand session.

Aptly titled obsequentia, the Latin term for compliance, Bank of Ceylon recently held the first-ever ‘Compliance Quiz’ among banks in Sri Lanka. Branded ‘Obsequentia 2020 - The Risk and Compliance Quiz’, the inaugural version was a resounding success and met with praise industry-wide for addressing a critical knowledge area in a fresh manner. 

Marking another first, the compliance-focused quiz was held digitally via the Bank’s own digital platform, drawing a total of 560 participants from 112 teams right across the Bank. 

The idea for the competition was conceived by the Deputy General Manager - Compliance, with the intent of improving knowledge and driving commitment among BOC staff towards the Compliance and Risk Management framework, an aspect of vital importance to the sustainability of the great banking institution. 

Originally hatched in the early part of the year, the plan hit a roadblock with the outbreak of COVID-19 countrywide and was shelved indefinitely due to practicality issues. However, the quiz competition was revived through the relentless efforts of the members of the Compliance, Risk Management, Marketing, Product & Banking Development, Training and IT teams, with the patronage of BOC Chairman Mr. Kanchana Ratwatta and Acting General Manager Mr. D.P.K. Gunasekara. 

The competition was conducted in its entirety using the Bank’s digital learning platform plus TV BOC, through which it was broadcast live across its network of 628 branches islandwide. A list of invitees and competition officials convened at the Bank’s 3rd floor auditorium for the final event, where segments from the competition underway were broadcast live.

The Governor of the Central Bank of Sri Lanka, Professor W.D. Lakshman, graced the monumental occasion as the Chief Guest. The Association of Compliance Officers of Banks - Sri Lanka ensured the free and fair running of the quiz competition, along with their participation in the panel of judges. Additionally, a number of officials from the Central Bank of Sri Lanka and several members of the Association of Compliance Officers of Banks - Sri Lanka took part in various capacities. 

The Western Province North Province Office team were judged the inaugural champions, with the DGM Finance and Planning Division Team and BOC Premier Centre teams becoming first and second runners-up respectively. A cash prize of Rs.100,000/- was awarded to the champions, and the first and second runners-up received Rs.75,000/- and Rs.50,000/- respectively.

The winning team, who logged in for the competition from the iconic BOC Merchant Tower, enjoyed the privilege of physically joining the awards ceremony at the Bank’s 3rd floor auditorium, a few moments after the announcement was made. Strict adherence to Bank and government health regulations was maintained throughout, with social gathering on account of the competition disallowed at branches plus non-admittance to the Bank’s headquarters maintained fully. 

Bank of Ceylon’s digitally-conducted quiz competition sets a precedent in the industry locally, and it has been lauded for the novel approach to knowledge management in banking across core areas such as risk and compliance. 

 

 

 

Banking sector giant, Bank of Ceylon has concluded the first half of the year once again earning industry leadership in terms of assets, deposits, advances and revenue. This year the Bank has delivered results despite facing unprecedented challenges. Although, the Bank has ended the first half with satisfactory results, the Year-on-Year decrease in numbers that has been reported is not a surprise given the headwinds across all global economies due to the effects of COVID-19.

Despite the challenging economic conditions, the Bank has reported the highest industry growth rates in revenue, deposits and advances for the first half of the year. The revenue of the Bank for the period was Rs. 118.3 billion with an YoY increase of 2.4 %. The Bank has reported a Profit Before Tax (PBT) of Rs. 6.9 billion and Profit After Tax (PAT) of Rs. 5.8 billion for 1H-2020 notwithstanding the consequences of the COVID-19 pandemic. However, the Bank’s net interest income showed 18% decrease YoY mainly due to accounting for the day one loss on COVID -19 moratorium and increase in interest expense in line with growth of the deposit base. Due to the stability and trust earned from the public, the Bank experienced more deposits coming to the Bank given the instability created in the market due to pandemic related economic disruptions, causing interest expense to rise. The impact of the Moratorium was accounted against the interest income based on the modification method given in the Sri Lanka Financial Reporting Standard (SLFRS) 09 and the resultant day one loss of Rs. 6.0 billion has been adjusted to interest income.

Showing the prudential management approach of the Bank, operating expenses has contracted by 7% YoY. Also many cost controlling and rational approaches in expense items were adopted in this extraordinary situation. However, the Bank had to make an impairment charge of Rs. 14.7 billion for the loans and advances by accounting for a significant increase in credit risk.

Despite all these challenges the Bank’s asset base grew by 11% to Rs. 2.7 trillion, backed by a 14% surge in the loan book. The Bank’s loan book stood at Rs. 1.8 trillion and both Government and private sector lending have contributed to this growth. The Bank’s deposit base which represents 23% of the industry has increased during 1H 2020, despite the low interest rates prevailing in the market. The Bank’s deposit base of Rs. 2.2 trillion represents 32% of Current and Savings deposit (CASA) base which generates funds at low costs. This reflects the trustworthiness built up in the customer mind regarding BoC as the market leader.

Further, the Bank has reported the NPA ratio of 5.35%for 1H 2020 demonstrating its robustness in monitoring and recovery measures of loans and advances even in a traumatic situation.

In responding to this extraordinary challenging time, Bank of Ceylon has articulated its accountability to its stakeholders and the nation as the No. 01 Bank in Sri Lanka by playing a significant role in the economic revival and ensuring the financial system functionality of the country. When the entire country was in a complete lockdown state, the Bank kept the wheels of the economy moving by ensuring a continuous money supply, facilitating payment and settlement etc through utilizing its island wide network with the widest reach. All of the Bank’s digital channels, mobile branches and a large number of branches were kept functioning to cater to the financial needs of the ordinary citizens, businesses and also the Government and state institutions.

The Bank’s role in passing out the benefits of the moratorium and the special low interest working capital loan announced by the CBSL in order to facilitate the revival of the COVID-19 hit businesses and individuals is also unparalleled and commendable considering that it is the bank with the largest customer base with over 13.7 million accounts.

Although the period under review is the most challenging period in the recent decade faced by all economies around the world and that Sri Lanka is no exception, the Bank through its half year performance has showcased its resilience and the stability to withstand any extraordinary and challenging circumstances. Being once again recognized among the Top 1000 Banks in the World by the Banker Magazine and becoming the country’s No. 01 in this prestigious list is another accolade the Bank has received, consolidating its globally commendable excellence and leadership position in the market.

Taking a positive approach on the country’s more than expected rate of recovery from the COVID-19 pandemic related economic downturn, the Chairman Mr. Kanchana Ratwatte and the Acting General Manager, Mr. D P K Gunasekera of Bank of Ceylon are optimistic about promising results towards the end of the financial year.

BOC

 

 

 

 

Management Trainees 2016/2017

 

1.

No. of candidates sat for the selection examination held on 29.01.2017

-

8790

2.

No. of candidates  
a) Successful at the examination
-
2397

 

b) Not Successful at the examination

-

6393

3.

No. of candidates interviewed
(based on the merit order of each district and number of vacancies for each district – district basis)

-

1250

 

4.

No. of selected Management Trainees

-

346

5.

Letters were sent to the selected Management Trainees on 06.09.2017

 

 

 

Click here to download : List of selected Management Trainees