ComBank makes strong start to 2021 with robust growth in fund-based operations
May, 12, 2021
CASA ratio improves further to 45.26%, among best in industry
Operating income up 21.73% to Rs 24.161 billion
Impairment charges raised by 7.56% to Rs 7.156 billion
Provision cover improves to 60.98%; net NPL ratio to 1.93%
The Commercial Bank Group led by Sri Lanka’s benchmark private sector bank has generated strong growth in fund-based operations in the first quarter of 2021, with the continuing trend of interest expenses reducing at a significantly higher rate than interest income combined with judicious management of core banking operations.
Comprising of Commercial Bank of Ceylon PLC, its subsidiaries and the associate, the Group reported a Gross income of Rs 40.905 billion for the three months ended 31
World’s Best Banks 2021: Middle East
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May 04, 2021
This year was an exceptional one for everyone, everywhere, but perhaps even more so in the Middle East, where the economic slowdown induced by the pandemic was amplified by the drastic drop in oil prices and production.
As a result, regional GDP contracted by 3.8% in 2020, reports the World Bank in its April update, adding that the estimated accumulated cost of the pandemic in terms of GDP losses to the region’s economies by the end of 2021 will amount to $227 billion.
To try and weather the storm, governments set up stimulus packages and borrowed massively to sustain health care, housing and social welfare. As is often the case in times of crisis, structural imbalances were pointed out as major impediments to economic recovery, and decision-makers pulled the reform agenda back from their priority lists.
ComBank wins three awards from Business Tabloid Magazine, UK Daily News (via HT Media Ltd.)
The Commercial Bank of Ceylon has won three prestigious awards the ‘Best Private Bank’ in Sri Lanka in 2021,’ the ‘Best Digital Transformation in Banking’ and ‘Best Mobile Banking Application’ from Business Tabloid Magazine, a leading business magazine of the UK.
The Commercial Bank was the only bank to win three awards in the Banking category and was honoured alongside contemporaries such as Deutsche Bank in the Philippines, the Emirates Islamic Bank of UAE, the MBSB Bank in Malaysia, and the Gulf Bank in Kuwait.
Commercial Bank issues $500m PNC5 AT1 thepeninsulaqatar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepeninsulaqatar.com Daily Mail and Mail on Sunday newspapers.