Commercial Bank of Ceylon

Commercial Bank of Ceylon PLC (CBC) is a commercial bank in Sri Lanka with 287 branches and 830 ATMs. The bank has operations in Bangladesh, Maldives, and Myanmar.

Commercial Bank of Ceylon PLC
TypePublic limited company
CSE: COMB.N0000
IndustryFinance
Founded1920 (1920) [1]
HeadquartersColombo, Sri Lanka
Number of locations
 287 branches (865 ATMs)(2019)[2]
Area served
Sri Lanka
Bangladesh
Maldives
Myanmar
Italy
Key people
K G D D Dheerasinghe (Chairman)
M P Jayawardena (Deputy Chairman)
S.Renganathan (CEO)
Revenue US$ 830.07 million (2019)[2]
US$ 166.46 million (2019)[2]
US$ 95.93 million (2019)[2]
Total assets US$ 7.75 billion (2019)[2]
Total equity US$ 748.97 million (2019)[2]
OwnerCitigroup (13.15%)
Employees' Provident Fund (7.78%)
Deutsche Bank (5.52%)
Number of employees
 5,062(2019)[2]
SubsidiariesCommercial Bank of Bangladesh

Commercial Bank of Maldives BC Tech Solutions Ltd. Commex Sri Lanka s.r.l – Italy

Commercial Development Company PLC

In 2004, CBC acquired Credit Agricole Indosuez's two branches in Bangladesh at Dhaka and Chittagong to become the first Sri Lankan private bank to establish operations outside the country.[3] (Banque Indosuez had opened its branches in Bangladesh in 1980.) Also in 2003, the IFC bought 15% of the bank's share capital from Sri Lanka Insurance Corporation.[4]

References
  1. "Savings Sri Lanka - Internet Banking - Commercial Bank Sri Lanka". combank.lk.
  2. "Commercial Bank Annual Reports 2019" (PDF). Commercial Bank. Commercial Bank. 31 January 2020. Retrieved 31 January 2020.
  3. "inner.gif". www.island.lk. Retrieved 28 July 2016.
  4. IFC makes strategic investment in Commercial Bank Archived 28 July 2003 at the Wayback Machine Daily News, 2003-03-11

Sources
  • Green, E., and S. Kinsey. 1999. The Paradise Bank (Aldershot: Ashgate).
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