The Bank of Ceylon continues to dominate as the NO.1 Brand for the 9th consecutive year.
Sri Lanka’s No.1 Bank yet again reinstates itself as the No. 1 Brand in Sri Lanka for the 9th consecutive year according to the latest Brand Finance Sri Lanka’s records published on “Brands Annual” by Media Services. The Sri Lankan partner of Brand Finance UK which is a leading body which has a global network in 17 countries, Brand Finance Lanka revealed BOC brand as the No.1 Brand with the value as Rs.40. Billion. Empowering Sri Lankans to realize their life goals through affordable yet best-in-class banking solutions, in its steadfast journey of over 77 years, the Bank of Ceylon has always gone that extra mile to add value to Sri Lankan banking industry. With the pledge to commit as “Banker’s to the Nation” since its inception the Bank has been evolving with the needs and lifestyle of the Sri Lankan community to provide the financial assistance they require. The first and the only Sri Lankan single business entity to earn PBT of Rs.25.3 Billion for 2015 and PBT 31.2 Billion for 2016, BOC challenged its own record continuing its quest to strive for exceptional performance in all areas of banking. Two very significant achievements of BOC in recent history were the surpassing Rs. One Trillion in Deposits in 2015 and Rs. One Trillion advances in 2016. The Bank’s asset value now exceeds Rs. 1.6 Trillion and is the highest asset base owned by a single business entity in the country.
“Maintaining our position as the No.1 Brand in the country is an achievement like no other. Anyone would agree with me that being the No.1 Brand in the country for the 9th consecutive year is an unmatchable achievement. We have done exceptionally well during past years and now we are the only Bank that has three Trillions in the balance sheet. Our next goal is to enhance the Bank’s asset base up to Rs. 2 trillion by 2019-this will surely be another milestone in the Sri Lankan banking industry.” The Bank’s Chairman, President’s Counsel Mr. Ronald C. Perera stated. In its steadfast journey brand ‘BOC’ has been able to overcome significant macro and micro environmental changes in the banking and financial industry to establish itself as a superior brand in the country. With the time tested vision as “Banker’s to the Nation”, Brand BOC has delivered the best result for its true stakeholder, citizens and the Government of Sri Lanka.
BOC has earned the trust of Sri Lankans and proudly caters to over 12 Million customers today. With its massive financial capacity and adaptable approach that comes with inherent commitment towards country’s social and economic development BOC has enabled banking services successfully to a very diverse base customer base from individuals to businesses and organizations of different geographic and economic strata. BOC offers the flexibility and convenience of a whole gamut of banking services under one roof for everyone from newborn to senior citizen and Micro entrepreneur to corporate business. In order to cater to this geographically diverse customer base, the bank has 625 branch network that is spread at every nook and corner and owns the largest ATM/ CDM network in Sri Lanka with over 825 machines serving customers 24 hours 365 days. BOC was the first Sri Lankan bank to have marked its presence overseas with the opening of “BOC London” in 1949 at the epicenter of international banking at that time. Later BOC spread its foreign branch network to Chennai, Male and Seychelles. Apart from its own foreign branch network BOC maintains foreign correspondent banking network with over 860 foreign banks and exchange houses.
“The Bank’s approach to cater to the very dynamic banking needs of its customer base has been the key factor behind BOC brand’s 77 year long success. Since its inception in 1939, Bank of Ceylon’s motive was the same as promoting social and economic development of the country and its people. As such the bank has been strategically adapting its products and services portfolio with the understanding of future social and economic trends that requires tailor-made banking and financial services. A very recent example was the BOC’s digital transformation that completely changed the bank’s internal processes along with its customer interface and infused synergy to the whole Sri Lankan banking system. Along with the benefits of digital transformation BOC was able to embark on Green Banking comprehensively for a sustainable growth together with the community” stated Mr. D.M. Gunasekera, the General Manager Bank of Ceylon. “We have many on-going environmentally friendly programs that have been there for several years. However with the digital infused transformation the bank introduced green processes, green products and services, strategies and green infrastructure that include IT and physical infrastructure. In the bank’s success story, the staff commitment, dedication and their achievements played a vital role and that has been recognized when Asia’s Best Employer Brand- awards organized by Employer Brand Institute endorsed the BOC as one of those classed as a -Best Employer Brand for the year 2016. The strength of all these factors contribute to make the “BOC” brand No.1 for the 9th consecutive years which is another benchmark set by the Bank” he added.
Being driven by trust and stability, Brand “BOC” has earned many local and international accolades and recognition. The Bank earned global recognition as one of the top 1000 banks in the world, (Country rank No.1) as listed by “The Banker Magazine” (UK) respectively in 2012, 2013, 2014, 2015 and 2016. The Bank claimed its award as the only Sri Lankan brand recognized as one of Asia’s Best Brands in 2013 by the Chief Marketing Officer’s Council (CMO Council) based in Mumbai, India. Focusing on the Bank’s financial position, Fitch Rating Lanka ranked the Bank of Ceylon at AA+(lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka. BOC won the merit award for Annual Report 2015 under state owned enterprises category at the Excellence in Integrated Reporting Awards – 2016 conducted by the Institute of Certified Management Accountants of Sri Lanka.
The Bank of Ceylon records over Rs.46 Billion transactions, the highest ever value of ATM/CDM transactions during Avurudu.
The owner of the largest ATM/CDM network in the country, the Bank of Ceylon yet again set a benchmark in the Banking industry by transacting over Rs. 46 Billion during this Sinhala and Tamil Avurudu Season from April 1st till April 14th 2017. Having a fully operational ATM network with over 730 machines covering the entire the country, BOC has provided customers utmost convenience and easy access to cash for their immediate cash requirements during Avurudu. Through the Bank’s ATM network alone BOC has dispensed over Rs.34 Billion from 1st to 14th April which is highest amount dispensed through a bank’s own ATM network in Sri Lanka. The Bank has installed over 127 Cash Deposit Machines (CDMs) covering every strategic point throughout the country enabling BOC customers to deposit money into their accounts on real time 24 hours a day. These CDMs have accepted highest recorded- over Rs.12 Billion in cash during the same period. The highest number of transactions made on ATM/CDM network was recorded on Friday April 07th 2017 which was over 350,000 transactions worth Rs. 6.29 Billion. During the period from 7th April to 12th April the bank’s ATM network dispensed over Rs.3.45 Billion per day on average.
“It is overwhelming to see that our efforts to digitally transform the banking landscape in the country is becoming a success day by day. With our ATM/CDM network that counts more than 850 machines covering every hotspot in the country we have been able to increase usage of these service points among general public. Our ATM/CDM network is not only popular among our customers but also among others who bank with other banks to use when in need.” stated the Acting Deputy General Manager-Sales and Channel Management, Deputy General Manager Retail banking (Range 2.) Mr. C. Amarasinghe. The Bank has enabled all ATM card users to withdraw or make direct payment through a POS machine up to Rs. 100,000/- per day 24 X 7 through an ATM without prior arrangement. The same can be used for transactions over Rs.100,000/- per day through a POS machine with prior approval.
Moving ahead with the digital transformation the Bank introduced the BOC SmartZone that includes 24x7 operative self serving lobby which includes ATMs and CDMs and currently has formed over 130 of state-of-the-art SmartZones. It has been a good service point that served customers with their immediate cash requirements during the festive season.
“A Trillion” Hat-trick from Bank of Ceylon.
The Bank of Ceylon scored its third “Trillion” at the end of the year 2016. That is surpassing the Rs. One trillion mark in advances- another unique milestone in its 77-yearjourney as “the Bankers to the Nation” and becoming the first ,and up to now the only bank to pass this milestone in Sri Lanka. The Bank’s balance sheet has expanded at an impressive scale since its first “Trillion” target was achieved in 2012 by accumulating over Rs. one trillion assets in the Bank’s balance sheet ,becoming the first business entity in the country to do so. Then by 2015 the Bank fully justified the trust placed in it by the public by announcing its second “Trillion”- Rs. One Trillion deposits. The Bank of Ceylon has been striving towards these big goals whilst maintaining itself as the largest contributor to the national economy in so many different ways. “Being a state owned Bank and a key player in financial mechanism in the country every achievement of ours gets directly translated into country’s economic development. Being in line with the government initiatives towards Sri Lanka’s economic progress, we have managed a diverse lending portfolio that encompasses of almost all public and private organizationson different scales of operation and individuals from all walks of life.For the Bank it is always not the highest profit margin that matters, but always to look into sustainable growth of both the customer and the bank. Therefore, this announcement speaks of investment made in developing businesses and the people of this country. I wish to thank our customers, dedicated staff including those who have retired from the service for their contribution and all other stakeholders at this juncture.” stated the Chairman Bank of Ceylon, President’s Counsel Mr. Ronald C. Perera.
Moving onto implementing government-backed initiatives on catering to the unbanked segments in the country and building their confidence in the banking industry BOC has led many projects such as “SamataGinumak”, Branch on Wheels, “BOC Mithuru” and many other financial inclusion programs. Many of these programs looked into entrepreneur development, women and youth development.
The Bank has moved into new-age banking with its digital infused transformation that has revolutionized banking operations overall. With this transformation BOC introduced many novel features internally and as well as for the Sri Lankan Banking industry that has enabled seamless banking transactions. Reiterating its commitment to all Sri Lankans, the Bank ensured that all benefits derived from these novel initiatives will stream down to every nook and corner of the country. Currently the Bank maintains 628 branches, 689 ATMs and 123 CDM network and 15 Regional loan centers within the country. Considering the importance of customer interfaces the bank has upgraded many of its key branches with “SmartZones”- a 24-hour digital banking self-serving lobbyand even converted Thissamharama, Kekirawa and Kilinochchi, branches as “Green Branches”.
“Passing the Rs.One trillion target in advances is an overwhelming achievement. This is proof that we have improved our operational versatility and effectively managed requirements of our customers. In recent years we have managed to become the highest profit earning single business entity in the country. Our asset base now stands at an astounding Rs.1.6 Trillion and our deposit base has improved up to Rs. 1.2 Trillion. The Bank of Ceylon iseverybody’s Bank where we cater to Micro, SME, Corporates and Individual customers in the country.”Stated the General Manager Mr. D. M. Gunasekera. “We have refined our strategic goals to be more customer-centric taking into account the present convenience-driven lifestyle of customers. At the same time, we will continue to contribute to economic development projects and initiatives of the country even better.” He further added.
The Bank of Ceylon was reaffirmed as the country’s No. 1 brand for the last eight consecutive yearsby the Brand Finance Lanka.The Bank earned global recognition as one of the top 1000 banks in the world, (Country rank No.1) as listed by “The Banker Magazine” (UK) respectively in 2012, 2013, 2014, 2015 and 2016. The Bank claimed its award as the only Sri Lankan brand recognized as one of Asia’s Best Brands in 2013 by the Chief Marketing Officer’s Council (CMO Council) based in Mumbai, India. Focusing on the Banks achievement, Fitch Rating Lanka reaffirmed the Bank of Ceylon at AA+(lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka.BOC won the merit award for Annual Report 2015 under state owned enterprises category at the Excellence in Integrated Reporting Awards – 2016 conducted by the Institute of Certified Management Accountants of Sri Lanka. “Asia’s Best Employer Brand” awards organized by Employer Brand Institute endorsed the BOC as one of those classed as a “Best Employer Brand” for the year 2016.TheBank of Ceylon maintains international presence with three overseas branches and a subsidiary in London.
“BOC Branch on Wheels”- The Bank within your reach with Digitization.
The country’s No.1 Bank, Bank of Ceylon’s newest value addition to its customers is the “Branch on wheels” which was launched ceremoniously on January 10th, 2017 with the patronage of the Bank’s Chairman Mr. Ronald C. Perera and General Manager, Mr. D.M. Gunasekera. Deputy General Manager Sales and Channel Management Mr. Senarath Bandara, members of the Corporate and Executive Management and other officials were also present. This mobile branch vehicle includes a teller counter, customer area, ATM, and a self service KIOSK. A wider range of banking services such as cash deposits and withdrawals, fund transfers, bill payments, accounts opening, applying for loans and internet banking is provided here. With the online connectivity the mobile branch has, a transaction that would be done at through this branch would be updated real-time.
BOC Branch on Wheels is introduced in line with the Government objective to bring in the un-bankable population in the country to the banking stream through extending modern banking facilities to customers in remote areas and building their confidence in the banking stream. Even these modern banking facilities are hard to reach for some; mobile branch will go up to the customer breaking psychological and geographic barriers to make banking more feasible.
Enabled as a part of the digital transformation, the Bank takes this initiative very seriously. To ensure that the entire country is covered, the Bank will assign a mobile branch for each province. By doing so it will be able to cover wider ground area and reach a wider customer base ranging from a busy marketplace, to a school, hospital and any type of organization or factory, at the convenience of the customer. The branch will be deployed according to a pre-decided schedule to operate as a routine branch. It will also serve as a service station when mobilizing special events in the region. BOC also looks forward to strategically place this as a part of a recovery plan to support relief operations in disaster situations to assist customers immediately in their time of need.
Digitally altering the Sri Lankan Banking landscape, BOC pioneered to elevate the country’s banking industry significantly in par with the international standards bringing a world-class banking experience to its customers’. With the responsibility of a Bank with a state ownership it has spread its service across the country to cater every Sri Lankan.
The Bank of Ceylon’s General Manager/CEO Mr. D M Gunasekara is among the 100 Global Sustainable Leaders.
The World Sustainability Organization recognized the BOC’s General Manager/CEO Mr. D.M. Gunasekara as one of the “100 Global Sustainable Leaders’ at the “World Sustainable Congress” held in Dubai. This ceremony was organized by the “World Sustainability Organization” which is a “non-profit organization” advocating government bodies and private organizations and public interest groups in the world for sustainable leadership accelerating sustainable business practices and solutions. This ceremony aims to bring together CEO’s and professionals from multiple industry segments that stimulate the global business community for a better tomorrow.
The Bank received several awards to its credit, claimed its award as the only Sri Lankan brand recognized as one of Asia’s Best Brands in 2013 by the Chief Marketing Officer’s Council (CMO Council) based in Mumbai, India. Respectively in 2012, 2013, 2014, 2015 and 2016 the Bank earned global recognition as one of the top 1000 banks in the world (Country rank No.1) as listed by “The Banker Magazine” (UK). Since 2008, for the last eight consecutive years Brand Finance Lanka has ranked BOC as the country’s No. 1 Brand for enhancing its Brand value significantly over years. The Bank of Ceylon won the overall Gold Award at the National Business Excellence Award Awards Ceremony 2015 with five other “Winner” awards. The Bank was named as the “Strongest Bank” for the year 2015 in the country by the “Asian Banker”.
These key achievements coupled with being endorsed as one of the “Asia’s Best Employer Brands” by Employer Brand Institute for the year 2016 were gained during the term of Mr. D.M Gunasekara. These achievements testify Mr. Gunasekera’s effort in steering the Bank as the CEO spearheading the Bank to meet challenges successfully and achieve remarkable heights. Mr. Gunasekara was the only Sri Lankan CEO to be selected among 100 global sustainable leaders named in 2016 by the World sustainability congress.
“It is a pleasure to be recognized among the 100 Global Sustainable Leaders, I have acquired knowledge, skills and experience in banking and has reached the pinnacle of my career as the General Manager/ CEO of Sri Lanka’s No.1 Bank, Bank of Ceylon. I take this opportunity to thank all my colleagues who helped me to reach this great milestone.” stated Mr. Gunasekara.
Other significant achievements in 2016 were the surpassing Rs.1 Trillion Deposits followed by surpassing Rs. 1.5 Trillion in its Asset base after achieving a Rs.1 Trillion asset base in 2012. Setting a new benchmark in the Sri Lankan banking industry The Bank became the highest profit earning single business entity in the country with a Rs.25 Billion PBT in 2015.
Mr. D.M Gunasekara counts over 33 years Banking experience and commenced his career in retail banking, which enriched him with a wealth of knowledge and experience in all aspects of credit management, administration and retail and Corporate banking. He served at the BOC London branch from 1997 to 2000 gaining international exposure. He joined BOC in 1983 and held several key senior positions in the bank. He is an Alumnus of the University of Colombo with a special Degree in Public Finance and Taxation (1981). Mr. Gunasekara is also an Associate Member of the Institute of Bankers of Sri Lanka and a member of the Association of Professional Bankers. He has successfully completed the programme on Corporate Management for Sri Lanka (LKCM2 AOTS) in Japan and also followed an Advanced Management Programme conducted by the Wharton University of Pennsylvania, USA.
As a leader Mr. Gunasekara has been an inspiration to the whole staff to become professional bankers who deliver the best to their customers and the community to grow together. With his global focus he has initiated many projects and policies to empower the staff and move the Bank towards a fully-fledged digital change pushing it to thrive and to go an extra mile to reach excellence in banking. With the Recent Branch modernization several next generation products and services were added. They include digital SMART Zones, Regional Loan Centers and centralization of business processes. Internal processes and systems were upgraded by building up infrastructure that includes IT, process automation and capacity building. As a part of this process the bank activated the 5S concept within the bank and its branch network which enhanced operational efficiency and reduced wastage of resources. “Quality Circles” were formed in order to ensure the sustainability of the process. In addition to these initiatives the Bank incorporated “Green Banking” into its business model to save the environment all of which it operates under the guidance of Mr. Gunasekera.
Mr. Gunasekara is a Non-Executive nominee Director on the Boards of Merchant Bank of Sri Lanka & Finance PLC., BOC Travels (Private) Ltd, BOC Property Development & Management (Pvt) Ltd., BOC Management & Support Services (Pvt) Ltd., Bank of Ceylon (UK) Ltd., Ceybank Assets Management (Pvt) Ltd, member of the Governing Board of IBSL, Executive Committee member of APRACA and serves in many other Boards including holding the post of the Chairman of Sri Lanka Banker’s Association. With Mr. Gunasekara’s strong ties with the community he as well as the bank was able to maintain a healthy relationship with the industry and the community at large thereby adding value and assisting many stakeholders.
The Bank of Ceylon celebrates its 77th Anniversary whilst trailblazing a digital transformation.
The Bank of Ceylon celebrates 77 years of trailblazing transformation in the financial services industry in Sri Lanka. The establishment of this indigenous modern bank took place in 1939 and since then it has been shaping the banking industry addressing the emerging needs of customers. The Bank evolved from simple passbook to phone banking, from cash counter transaction to 24 hour enabled digital SmartZones and from traditional banking methods to cyber/virtual banking incorporating green banking to name a few of its achievements during the 77 year journey towards digital transformation.
A state council member Mr. George E De Silva spearheaded a demand for the establishment of a state aided bank. The inauguration took place at No. 41 Bristol Street, Colombo Fort on 1st August 1939 with the patronage of the British Governor Sir Andrew Caldecott. Just as it addressed the need of that time for a commercial bank for people of this country, the Bank still proudly upholds same core values that were transmitted by its founders to be a leader of positive economic change and a passionate banking service provider who provides support to all its customers from all walks of life.
In 1941 Bank of Ceylon opened its first outstation branch in the hill capital of Kandy which completes 75 years in 2016. Orchestrating an expansion of its branch network to all the main cities and towns it was able to reach customers throughout the country. Currently it has 627 branches across the country with over 1200 customer touch points. Apart from its main branches Bank also maintains 15 SME units to encourage entrepreneurial growth at the grass root level. The Bank’s overseas network expansion began in 1949 with the opening of Bank of Ceylon London Branch, since then it has expanded over to Male in 1981, Chennai in 1995 and moved to Seychelles in 2014.
Incorporating innovation as a part of their story, the Bank has always applied value additions that are combined with novel operational methodologies which enabled the Bank of Ceylon to grow stronger and strengthen the country’s economic resources. The Bank’s consistency in delivering best-in-class service has become the standard of excellence in the market. The brand “BOC” was placed as the No.1 Brand by the Brand Finance Lanka, for eight consecutive years above all brands available in the country. It continued to set remarkable record as the highest profit earning business entity in the country with a record of Rs.25.3 Billion PBT for the year ended in 2015. It has surpassed Rs.1 trillion in asset base in 2012 becoming the first to pass this milestone. The Bank also exceeded Rs.1 Trillion in deposit base and will reach its “third trillion” achievement in the near future.
The multi-faceted services are the greatest strength of BOC. From the children’s savings account to corporate credit, for state sector and private organisations, BOC is active at every level. The BOC has the strength and the diversity of resources to offer its customers a range of financial solutions; such as Corporate Banking, Personal Banking, SME Banking, Islamic Banking, Investment Banking, Off-shore Banking, Development Banking, International and Treasury and Trade Financing services, through its widely spread branch network covering all parts of the country.
“77th Anniversary is an exceptional milestone and there are not many indigenous financial organizations which celebrate such occasion. As we celebrate and reflect the on the past 77 years we remind ourselves that, as the leading Bank in the country that every step we take to re-modify and transform our banking processes has the effect of providing greater value to Sri Lankans at large. Beginning from the traditional age old “Savings Pass” book and “Cash Counter” up to paperless online and mobile banking we have come a long way driving both the industry and the community towards digital banking” Stated President’s counsel Mr. Ronald C. Perera Chairman Bank of Ceylon.
The Bank is now moving further in the process of transforming the branch network to enhance customer experience by facilitating customer convenience and speedy service. “Our success depends on our customers’ success and by deploying digital transformation we ensure to deliver our customers the best possible banking experience in return for the trust that they have placed in us for 77 years. We are now providing state-of-the-art technology in many of our key branches and move on transforming other BOC branches to provide utmost convenience to our customers anywhere in the country. We have also integrated “Eco/Green banking” concept with our services which is also a timely concern” stated Bank’s General Manager Mr D M Gunasekara.
In line with the Bank’s 77th anniversary on August 1st, the Bank of Ceylon will conduct several events that includes religious and traditional ceremonies that includes a colourful traditional perehera/ procession followed by a “pirith ceremony” in the evening of 5th August at the Bank’s Head Office building and a blood donation campaign on the 1st of August 2016. There will also be celebration ceremonies organized in the Bank’s branch network and the bank cordially invites its customers to join these celebrations at their “BOC” branch.
The Bank of Ceylon earned global recognition as one of the top 1000 banks in the world, (Country rank No.1) as listed by “The Banker Magazine” (UK) respectively in 2012, 2013, 2014, 2015 and 2016. The Bank claimed its award as the only Sri Lankan brand recognized as one of Asia’s Best Brands in 2013 by the Chief Marketing Officer’s Council (CMO Council) based in Mumbai, India. Focusing on the Banks achievement, Fitch Rating Lanka ranked the Bank of Ceylon at AA+(lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka.
BOC Excels at Excellence in Integrated Reporting Awards – 2016
BOC won the merit award for Annual Report 2015 under state owned enterprises category at the Excellence in Integrated Reporting Awards – 2016 conducted on 11th July 2016 by Institute of Certified Management Accountants of Sri Lanka to coincide with the CMA National Management Accounting Conference.
The award ceremony was conducted with the aim of promoting the adoption of Integrated Reporting and enhancing the quality of corporate reporting in Sri Lanka. As a leading bank in the country, Bank of Ceylon always strives to step forward with the novel global initiatives. In 2015 we issued our third integrated Annual Report in line with guide lines of International Integrated Reporting Council (IIRC) which was recognized at the CMA Awards 2016.
This is the second time CMA conducted this award competition and the 10 best integrated reports and the overall winners were selected by a panel of five local and foreign judges.
Bank of Ceylon Assistant General Manager, Budget, Strategic Planning and MIS Mr. Vipuala Jayabahu received the award at the CMA National Management Accounting Conference held recently.
Once Again The Bank of Ceylon is among the Top 1000 Banks in the World and Ranked No.1 in Sri Lanka.
“The Banker” U.K Magazine revealed The Bank of Ceylon as the No. 1 Bank in Sri Lanka among the World’s Top 1000 Banks in its July 2016 issue. BOC has won many accolades and recognition in the recent past including the title as the “Strongest Bank” in the country given by the “Asian Banker” for the strength of its 2015 balance sheet, the Gold Award as the winner of the National Business Excellence Awards Ceremony and being named the No.1 Brand in the country for the 8th consecutive time. It was able to reach its second Trillion by gaining Rs. One Trillion deposits in 2016. The first trillion in assets was achieved in 2012 BOC is set to reach its third Trillion in the near future. Breaking its own record set by its 2014 profit before tax of Rs.20.3 Billion, it earned the highest ever profit made by a single Sri Lankan business entity which is Rs. 25.3 Billion PBT in 2015. This was a 25% growth over the previous year. BOC owns a strong balance sheet comprising robust savings deposits in both local and foreign currencies. BOC currently holds the largest foreign currency deposit base. Based on the stable outlook of the Bank, Fitch Rating Lanka ranked the Bank of Ceylon at AA+ (lka) which is the highest rating awarded to a local commercial bank and ICRA (lk) awarded AAA rating which is the highest credit quality rating issued by ICRA Lanka. With nearly 77 years of trust and stability in the Sri Lankan banking industry, the Bank of Ceylon has led the industry shaping its landscapes in par with the international banking industry.
“The Banker” Magazine UK, is one of the premier banking and finance magazines in the world and has been so since its inception in 1926. The Benchmark top 1000 bank list has been compiled by the “The Banker” since 1970. The Banker database holds comprehensive financial data, news feeds and executive contact data on the leading banks in every country and its ranking sets in the industry standard for measuring bank performance and strength.
“Being able to hold the title as the leading Sri Lankan bank in the World’s Top 1000 banks list is truly a privilege and an honor. As always we have moved forward on a steadfast track as the exemplarily bank in the country’s financial industry. It is my duty to thank all our stakeholders including our Customers and the Government of Sri Lanka at this juncture for encouraging us throughout these years to reach such heights.” stated the Chairman, State Counsel Mr. Ronald C. Perera.
“We have been always driven by the motive of bringing the best out through every task we carry out as the leading bank in the country. It is my duty to thank my committed staff for all their hard work that was put in to get achievements such as this.” Stated the General Manager Mr. D.M. Gunasekera.
BOC has understood that it has to go beyond mere multichannel strategies to approach today’s customer and to deliver the service they expect. Therefore it has developed more agile operating models that are customer-centric and provide profound solutions for all our customers coming from all walks of life. With the expansion in banking services it enriched its network connecting all branches and all other customer touch points through a single system at the end of 2004 enabling customers to transact through any branch seamlessly. Adding much sophistication BOC began its “Transformation” process in 2014 to deliver a best-in-class banking service to its customers. Under this project the Bank has established state-of-the-art branches to extend its services to its customers. BOC introduced the “SmartZone” concept in selected branches across the country enabling customers 24 hour access to banking services. These Samrtzones consist of Cash Deposit machines that enable the customer to deposit, transfer or withdraw money any time they need. Addressing the social need of sophisticated and secure digital channels for banking BOC upgraded its online banking facility along with its newest feature “SmartGen” where the traditional passbook has been replaced through emails and SMS alerts also enabling the customer to walk into any BOC branch without producing identification to transact as the customer image has been stored in the centralized system at the time of opening the account. Being more customer-centric BOC opened up its Facebook, LinkedIn, YouTube and twitter accounts enabling its customers to approach and feel the bank more closely.
As of today BOCs local market reach consists of 626 Branches, 15 SME Centers and 550 ATMs and CDMs which are spread throughout the country and currently serve customers ranging from individuals from all walks of life to corporate businesses. BOC is the Sri Lankan bank which pioneered the penetration of the international market-BOC has branches in Chennai, Male and Seychelles and a banking subsidiary in London which was established in 1949. It also has its representatives in several countries-especially those in which many Sri Lankans work as expatriates. BOC has also built a foreign correspondent banking network with over 860 foreign banks and exchange houses. The commitment and dedication BOC has shown towards its country and people over these years have made it truly the “Bankers to the Nation”.
“BOC Hapana” Scholarship seminar completes sixteen years with its 1130th seminar in Matugama.
BOC Ran Kekulu “Hapana” program series reached its 1130th seminar at Matugama Ananda Shasthralaya on 3rd July 2016. The 1129th program was concluded on 2nd July 2016 in Katana Dutugemunu Vidyalaya. All these programs are conducted completely free of charge for children who sit for the grade 5 scholarship examination this year and there is no necessity to be a BOC account holder. From the point of view of the Bank of Ceylon’s Corporate Social Responsible initiatives, uplifting the educational standards of the country’s younger generation is considered as one of the key aspects. Among many initiatives “BOC Hapana” is one direct method of carrying out this mission. Other initiatives include Ran Kekulu Scholarship Awards for grade 5 scholarship highflyers, BOC Sponsored “Nena-Pahana” TV series on Rupavahini channel every Monday from 5.pm till 6.pm that focuses on Grade 5 Scholarhip training and 18 Plus Scholarship Awards for A/L highflyers.
“BOC Hapana” is a dedicated program that has been an immense support to children who face the grade 5 scholarship examination. It has been going on for sixteen years since 2000. The bank has obtained the service of a very experienced panel of teachers and instructors throughout these years to conduct this well structured series of seminars which has contributed immensely for the success of the program. The Bank with the panel of instructors ensure that the modules discussed are updated according to syllabus change that takes place from time to time in order to ensure the effectiveness of the program to guide students to pass this hurdle. Mainly focused on developing the required skills in students for the exam, it also includes a discussion of a mock examination paper and conduct subject oriented curricular activities. Having been conducted in both Sinhala and Tamil language that will be delivered on request, “Hapana” has coached over 680,000 children throughout the country.
Although the main focus is given for the discussion of mock examination papers, the program also gives instructions for students to follow at any given examination to obtain exemplary results. It also discusses about effective studying methods, goal setting and timing. This comprehensive guidance also includes tips for parents who work as hard as their children to prepare his/her child for the examination. So far this programme has shared knowledge with over 500,000 parents who have participated. The Bank of Ceylon sincerely takes pride in being able to provide assistance to future leaders of the country in the best possible way it can. Therefore the whole program gives a new life changing experience to both parent and child. The Bank organizes around 80 scholarship coaching programs annually covering every province including North and East. The program is co-sponsored by Ceylon Biscuits (Munchee) and Camillus publications.