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.

Sri Lanka’s No. 1 bank, BOC recently tied up with the National telecommunication provider, Sri Lanka Telecom, to launch the first ever Dynamic QR for bill payments. Any SLT customer having BOC SmartPay Payment App or any other Lanka QR certified Payment App can make payment by scanning the Dynamic QR printed on SLT monthly bill from August 2020. This feature is also available with e-bills for SLT customers who receive their monthly statements via emails.

First ever static Lanka QR for bill payments and reloads was launched last year by the Bank with Mobitel and it was embraced by customers due to its convenience, simplicity and speed. BOC upgraded SLT static QR to Dynamic QR with the intention of giving a revolutionary payment experience to customers. Now customers can enjoy the freedom of making bill payments at any time from anywhere with a single click using SmartPay App or with at any other Lanka QR certified Payment App.

SmartPay, Bank’s mobile payment app is gaining its popularity with over 150,000 wallet active users and over 25,000 Lanka QR enabled island wide merchant network due to simple self registration process and continuous improvements in features and functionalities.

The recent pandemic situation has created positive reinforcement of customer perception towards digital banking and driving this momentum through digital innovations would be the “New Normal” in the post COVID 19 situation. BOC continues to work closely with Technology partners and enthusiastic Fintechs to enrich the digital payment ecosystem across the country in line with the initiatives of Central Bank and Government of Sri Lanka. In addition to SmartPay, BOC has an array of digital banking solutions under its wings to facilitate its customers such as SMART Online Banking and Mobile Banking (B App), Smart Passbook (which enables customers to view their bank statements online), SmartGen accounts (a digital account which does not require any paperwork to maintain), Apply online (online personal/housing loan application) and also an internet payment gateway.

With an unfathomable bond that was built with the Sri Lankan community for over 81 years, Bank of Ceylon, the No.1 Bank in the country will celebrate that deeply rooted relationship with pride at its 81stanniversary of establishment on 1st of August 2020.

With a heritage that explicitly showcases the commitment it has towards the nation in terms of co-creating social and economic wellbeing together with the Government of Sri Lanka, Bank of Ceylon has reached Sri Lankan businesses and individuals of all-walks-of-life to enrich their socio-economic standards. Indigenously originated in response to the needs of Ceylonese businesses to move forward to expand their businesses and wellbeing, the Bank of Ceylon Ordinance was enacted in 1938 and the Bank was declared open on August 1st, 1939 at 41, Bristol Street in Colombo fort, by the Governor, Sir Andrew Caldecott. Beginning its first extended branch in Kandy, Bank of Ceylon has moved forward to open 645 branches across the country, four overseas branches and a banking subsidiary in London up to now. BOC has expanded so much both in size and influence that the Bank can still be considered as the prime financier for Sri Lankans despite all competition. “BOC has been the highest profit earning single business entity in the country for a number of years continuously. The Bank’s anniversary would be the best day to remind the nation that all learning of the bank goes back again as an invested to assist the Government’s socio-economic agenda to develop the country’s infrastructure facilities and other, on behalf of all Sri Lankans. BOC takes great pride and responsibility in responding to the needs of all its stakeholders” stated the Chairman Mr. Kanchana Ratwatte.

BOC is currently standing strongly with a balance sheet that encompasses Assets valued over Rs.2.6 Trillion, Deposits over Rs. 2.1 Trillion, Advances and Lending over Rs. 1.8 Trillion, BOC boasts of being the wealthiest single business entity in Sri Lanka. This leading Sri Lankan banking giant has spread its wings across the island with a sophisticated inter-connected digital network currently inclusive of 645 branches, 10 mobile branches, 15 SME centres and also 1270 ATMs/ CDMs and CRMs that are 24 x7 operative as physical customer touch points building up a total of 1915, enabling customers to transact at their convenience. In its 81 year long journey, BOC has empowered generation after generation of individuals and businesses that many of the indigenous corporate scale businesses that are here today were start-ups financed by the bank back in the early days. At present BOC has taken its responsibility even further by being the bank that elevates the Sri Lankan banking industry by harnessing world class banking technologies and spreading the synergy across the country benefitting every household.

Leveraging on the strength gathered over eight decades, Bank of Ceylon has continued to dominate the Sri Lankan banking landscape at many different levels. “Looking at a broader perspective, anyone can observe that Bank of Ceylon is substantially rooted with every industry in the country in a significant way. In order to manage the requirements that are coming from this diverse customer base, BOC manages a product and a service portfolio that could financially enable anyone’s aspiration for social or economic growth. Considering the current social circumstances, the Bank has identified that the country is in need to promote the entrepreneurial spirit and more prominence should be given for financial inclusion and employment generation” stated the Acting General Manager Mr. D.P.K. Gunasekera.

BOC’s structure is sustainable in the longer-run as it is deeply connected to a profound vision, mission and a set of corporate values to begin with. It demonstrates it agility by adapting itself to be more responsive to customer needs. The assurance the Bank has earned throughout these years is validated by all stakeholders especially all Sri Lankans. The Bank aims to confront future challenges by developing market leadership, confronting market volatility, channeling and aligning resources to ensure business growth and transforming the banking landscape digitally.

In line with the Bank of Ceylon’s 81stanniversary that fell on 1st August 2020, the Bank held its Anniversary celebrations main event at the Bank’s Head Office Colombo 01 on 4th August 2020 amidst a gathering of Bank’s corporate management, staff members, customers and well wishers. With an unfathomable bond that was built with the Sri Lankan community for over 81 years, Bank of Ceylon, the No.1 Bank in the country celebrated the deeply rooted relationship with pride on this day.

The Governor Central Bank of Sri Lanka Prof. W.D. Lakshman was the Chief Guest for the occasion and Deputy Governor Central Bank of Sri Lanka Mr. H.A. Karunaratne participated as Guest of Honor. The event was patronage by the Bank’s Chairman Mr. Kanchana Ratwatte the Bank’s Acting General Manager together with the Corporate and Executive Management also participated for this ceremony. A Drawing competition was launched on the Bank’s Facebook page “Art of Hope” in line with the Bank’s 81st Anniversary.

With a heritage that explicitly showcases the commitment it has towards the nation in terms of co-creating social and economic wellbeing together with the Government of Sri Lanka, Bank of Ceylon has reached Sri Lankan businesses and individuals of all-walks-of-life to enrich their socio-economic standards. Indigenously originated in response to the needs of Ceylonese businesses to move forward to expand their businesses and wellbeing, the Bank of Ceylon Ordinance was enacted in 1938 and the Bank was declared open on August 1st, 1939 at 41, Bristol Street in Colombo fort, by the Governor, Sir Andrew Caldecott.


Bank of Ceylon acknowledging its inherent responsibility as the beacon of hope, for the Sri Lankan community to elevate itself from crisis and rebuilding, has extended a gamut of benefits for the development of micro and SME sector in the country. Aligned with the Government’s economic and social development goals, the Bank has formulated a series of loans to assist sectors that have been adversely affected by the COVID 19 pandemic crisis.

BOC “Divi Udana” will be focusing on sectors such as Agriculture, Fisheries, poultry and farming, Trading, service sectors such as IT, innovation and entrepreneurship development, to improve business to be more environment friendly and of a similar nature projects. 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 will ensure that all customers are also obtain these services on agreeable terms and also conveniently.

Customers can visit any BOC branch for more information and submit their requests with only the documents most required by the bank. By the extension of digital platform to empower customers BOC ensures that customers will avail themselves of the most convenient, reliable and secured online, mobile and ATM/CRM network to improve their time and resource management.

On behalf of building customer awareness, BOC has also organized a series of awareness programs to cover the entire island targeting intended entrepreneurs across the country. 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.

With the objective of offering a better effective service to the customers in accordance with bank’s vision & missions, the Bank of Ceylon has decided to relocate its Manthakai branch to a new location which affords a great customer experience with its modern attractive appearances with spacious conditions, updated with Technological advancements etc.

In that series to celebrate its 8th year anniversary since 02.07.2012 Bank of Ceylon, Manthikai Branch which is presently located at Manthikai Junction, Manthikai, Jaffna is planned to relocate the branch on coming 15th July 2020. To enhance the quality & convenience regarding rendering of financial services with the modern advanced technologies to the people around Manthikai area, the Bank of Ceylon, Manthikai branch will commence its banking operations at the new location chavakachcheri Road, Near Manthikai Market, Manthikai from 15th July 2020.

The official ceremony of relocation is scheduled to be held on this day at 9 a.m headed Mrs. Sumangala Pirapaharan – The Assistant General Manager (Northern Province). Mr.C.Amarasinghe – The Deputy General Manager- Sales & Channel Management will honor the ceremony as the Chief Guest.

Bank of Ceylon Manthikai branch is presently render its services mainly to the rural populations in Manthikai & surrounded area. The people with different social status such as Farmers, Self employees, Business Mans, Small Scale Entrepreneurs government servants including school, hospitals will be more benefited from the facilities provided at the proposed relocated branch premises due to the efficient services, technological advancements, branch’s spacious appearance specially the CRM machine & parking facilities.


The Bank of Ceylon North Western Province successfully concluded the awareness program on educating Micro/ SME entrepreneurs. Customers will get the opportunity to discuss their concerns with regard to loan facilities directly with the bank officials at this program. The program was held in “Romance Paradise” Hall in “Wayamba Co-Operative Society” Building on Friday 10th July 2020 from 8 a.m. onwards, with the participation of the Bank’s Chairman Mr. Kanchana Ratwatte, Acting General Manager Mr. Sugath Gunasekara, Senior Deputy General Manager Human Resource Mr. K.E.D. Sumanasiri, Deputy General Manager Sales and Channel Management Mr. E.M. Jayarathne, and Deputy General Manager Finance Planning/ Acting Chief Marketing Officer Mr. H.P.K Silva and Assistant General Manager North Western Province Mr. W.A. Upali. Over five hundred Micro/ SME entrepreneurs participated for this program and they were able to discuss concerns and educate themselves on products and services available for their viable projects conveniently with probably the lowest interest rates in the market.

Bank of Ceylon has scheduled a series of such programs island-wide to assist entrepreneurs to develop their businesses and expand their contribution to economic growth whilst sustaining their social and economic wellbeing.

With special focus on reviving the economy after the COVID 19 pandemic, Bank of Ceylon has extended numerous initiatives to assist entrepreneurs 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.

The Bank of Ceylon’s relocates its Thalawa Branch at its new address ‘Kurunegala Road, Thalawa’ with upgraded facilities that adds more convenience to customers in the area. The opening tool place with the patronage of Deputy General Manager (Sales and Channel Management) Mr. C. Amarasinghe.

The opening was officiated bythe Assistant General Manager (North Central Province) andthe staff. Bringing in the digital aspect of banking to every nook and corner in the country the Bank is in the process of strategically spreading its technology to all its branches.

Preparing for post COVID situation, these newly relocated branches offers a wide array of digital banking services apart from traditional branch banking transactions to its customers.The Bank of Ceylon pioneered to bring digital technology, altering Sri Lankan banking with its significant capacity to reach every part of the country. BOC customers can conveniently conduct their regular banking transactions without having to visit a branch physically through digital platforms such as B-App (mobile application), Smart Online Banking, SmartPay (QR based mobile payment app), SmartPass book (account inquiry application) and Smart FD, enabling them to save time, energy and resources to engage in things that matter the most. Entrepreneurs who are eager for business expansions and sustainable economic growth also can avail themselves loan facilities that are especially available for them at the Thalawa Bank of Ceylon. Bank of Ceylon will continue to add value through digitization,empowering customers to achieve their aspirations in life whilst energizing the country’s economy.

This branch is also connected to the rest of the 643 branches through a centralized network thus allowing customers to transact real-time with any of the branches in the network spread across the country. With the COVID 19 outbreak that has crippled the normal way of living, customers of Bank of Ceylon are digitally empowered to transact anytime of the day with its online banking, Mobile banking, mobile branch bank mechanism, interconnected 24 x 7 operative ATM/ CDM and CRM network which consist of over 1100 customer service points spread across the country.


Bank of Ceylon (BOC) the largest bank and the market leader in the financial services sector in Sri Lanka launched a private placement of Basel III Compliant, Unlisted, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond issue with Non-Viability Write Down features. The amount to be raised was Rs. 3 billion with an option to issue up to a further Rs. 2 billion in the event of over subscription of the initial issue. This bond issue is approved by the Securities & Exchange Commission of Sri Lanka and Central Bank of Sri Lanka.

This is a novel debt instrument to the Sri Lankan debt capital market. The Bonds are not listed on the Colombo Stock Exchange and confined to qualified investors. The Bonds are irredeemable and may be callable by the Bank at its discretion at any time after expiry of 5 years from the date of issue subject to approval of the Central Bank of Sri Lanka. The Bonds carry a floating interest rate of 12 month net Treasury bill rate + 1.5% p.a. with a floor rate of 9.5% p.a.

The long term funds raised through this Bond issue will be utilized for the long term financial needs of the priority sector of the economy while strengthening the Tier I Capital of the Bank. BOC’s customer base ranging from retail customers to large private and public sector enterprises coupled with BOC’s large branch network will provide a solid platform to utilize the funds profitably and efficiently.

BOC is a premier financial institution of the country with an unparalleled track record of eight decades in driving the country’s socio-economic development through partnering the growth of individuals, businesses and the Government by providing access to finance and safeguarding public interest. BOC accounts for 19% and 22% respectively of the banking industry’s assets and deposits and thereby is the largest bank in the country. As a fully state owned, domestic systemically important bank, BOC’s role extends beyond that of mere financial intermediation and its impact on the economic and social fabric of Sri Lanka is unmatched. BOC is rated AA+ (lka) by Fitch Ratings Lanka Ltd and (SL) AAA by ICRA Lanka Ltd.

BOC has many landmark achievements in the fund raising arena, public and private and in domestic and foreign markets. As of date BOC has raised Rs. 84.21 billion locally by issuing listed and unlisted debentures and US$1 billion through issue of International Bonds in 2012/13 in overseas markets.

The private placement of Basel III Compliant, Unlisted, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond issue of BOC opened on 25th June 2020 and subsequently closed on 3rd July 2020 as it was fully subscribed. The Managers and Registrars for this bond issue is the Investment Banking Division of Bank of Ceylon.








Management Trainees 2016/2017



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




No. of candidates  
a) Successful at the examination


b) Not Successful at the examination




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





No. of selected Management Trainees




Letters were sent to the selected Management Trainees on 06.09.2017




Click here to download : List of selected Management Trainees