July 29, 2016 6:31 PM ET

Banks

Company Overview of Commercial Bank of Ceylon PLC

Company Overview

Commercial Bank of Ceylon PLC provides various banking products and services in Sri Lanka and Bangladesh. The company offers current and savings accounts, fixed and call deposits, money market accounts, treasury bonds and bills, pensions plans, and credit and debit cards. It also provides loan products, including home, personal, gold, pre shipment, Import demand, pledge, development, agri, festival, short and medium term, and small and medium enterprise loans, as well as overdrafts, loans against trust receipts, and micro financing and factoring services. In addition, the company offers letters of guarantee, letters of credit, and guarantees; bill discounting, export bill purchase, draft pur...

Commercial House

No. 21, Sir Razik Fareed Mawatha

PO Box 856

Colombo,  1

Sri Lanka

Founded in 1920

4,406 Employees

Phone:

94 11 248 6000

Fax:

94 11 244 9889

Key Executives for Commercial Bank of Ceylon PLC

Commercial Bank of Ceylon PLC does not have any Key Executives recorded.

Commercial Bank of Ceylon PLC Key Developments

The Commercial Bank of Ceylon Signs Agreement with Bank Muscat Oman to Facilitate Remittances to Sri Lanka

The Commercial Bank of Ceylon announced that it has signed an agreement with Bank Muscat Oman to facilitate remittances to Sri Lanka via the latter's new mobile banking app. The mobile app makes it possible for users to send cash remittances to recipients in Sri Lanka or transfer money to accounts at Commercial Bank 24/7. They may also transfer funds to accounts at other banks in Sri Lanka via Commercial Bank.

Commercial Bank of Ceylon plc Announces Earnings Results for the First Quarter Ended March 31, 2016

Commercial Bank of Ceylon PLC announced earnings results for the first quarter ended March 31, 2016. For the quarter, the company increased its group net profit 28.7% to LKR 3.26 billion during the quarter ended March 31, 2016 from a year ago, the interim results showed. This translated into an earnings per share of LKR 3.72 from LKR 2.90. The performance is a reflection of strong core banking performance supported by stable margins, net fee and other incomes and reversals of provisions made for possible bad loans in earlier periods amid improved credit quality. But the growth in the loan book was seen slowing down. The net interest income rose 12.1% year-on-year to LKR 8.17 billion amid slowing demand for credit but the bank maintained its net interest margin at 3.62% despite the rising interest rates were seen compressing the margins in the country's banking sector.

Commercial Bank of Ceylon PLC, Annual General Meeting, Mar 31, 2016

Commercial Bank of Ceylon PLC, Annual General Meeting, Mar 31, 2016.

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