Commercial Bank of Ceylon
A leading private-sector commercial bank in Sri Lanka, serving retail, corporate, SME and international customers.
Last updated October 15, 2026
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Overview
Commercial Bank of Ceylon PLC, commonly known as Commercial Bank or ComBank, is a privately owned licensed commercial bank headquartered in Colombo, Sri Lanka. The present institution was incorporated in 1969, with Eastern Bank holding a substantial initial equity interest, although the business traces its banking lineage to Eastern Bank operations established in Ceylon in 1920. It is listed on the Colombo Stock Exchange and has developed into one of Sri Lanka’s most significant private-sector financial institutions. The bank provides a broad range of services, including personal and retail banking, current and savings accounts, credit and debit cards, consumer lending, mortgages, remittances, corporate and investment-related banking, trade finance, treasury services, cash management, digital banking and financial products for small and medium-sized enterprises. It also provides insurance-related products through a bancassurance relationship with Union Assurance. Its business includes both branch-based and electronic channels, with a substantial domestic distribution network of branches and automated teller machines. Commercial Bank occupies an important position in Sri Lanka’s private banking market. It has been described as the country’s largest private bank by net worth and capital and as the third-largest bank overall by total assets, behind the two major state-owned commercial banks, Bank of Ceylon and People’s Bank. The Central Bank of Sri Lanka has designated it as the only private-sector licensed bank in the higher domestic systemically important bank category. The institution is also a major lender to Sri Lanka’s small and medium-sized enterprise sector. Its growth has included international expansion. In 2003, Commercial Bank acquired two Bangladesh branches previously operated by Credit Agricole Indosuez, at Dhaka and Chittagong. This made it the first Sri Lankan private bank to establish banking operations outside Sri Lanka. The Bangladesh business subsequently received strong local credit assessments and recognition as a foreign and sustainable bank. Technology has been a recurring part of the bank’s strategy. It introduced online banking in 2000 and later added products and services including a remittance card, automated cheque-deposit facilities, UnionPay cards, missed-call credit-card balance alerts, QR-enabled bill settlement and the Flash digital banking product. The bank also partnered with fintech company DirectPay to support internet payment gateway and merchant acquiring services. Commercial Bank presents sustainability as part of its operating model. Its sustainability framework covers sustainable banking, responsible organizational practices and community impact. The bank has used social and environmental risk assessment in lending decisions, promoted paperless banking and supported renewable-energy financing. It has stated that it achieved carbon neutrality across its operations, including its branches and head office. Community initiatives have included STEM-focused smart classrooms in Sri Lankan schools during its centenary year. The bank’s public profile has been reinforced by repeated industry recognition. It became the first Sri Lankan bank to appear in The Banker’s global top-1,000 banks ranking, first achieving that position in 2008 and remaining in the ranking for many subsequent years. It has also received repeated domestic and international banking, brand and sustainability awards. Its regulatory record has not been without difficulty: in 2021, Sri Lanka’s Financial Intelligence Unit imposed a monetary penalty for non-compliance with anti-money-laundering requirements.
History
Commercial Bank of Ceylon’s institutional history combines a 1920 banking predecessor with the creation of the present Sri Lankan company in 1969. Eastern Bank opened its first branch on Chatham Street in Colombo’s Fort district in 1920. During the 1930s and 1940s, Barclays Bank acquired shares in Eastern Bank. Chartered Bank later bought those shares in 1957, but its direct control of Eastern Bank lasted only several years. On 25 June 1969, Commercial Bank Ceylon Limited was incorporated as a public limited company. Eastern Bank held 40 percent of the new institution’s equity, linking the new bank to the established British banking operation while creating a locally focused commercial-banking platform. V. Manicavasagar, a veteran judge, became the first chairman. The company subsequently developed as a private-sector licensed commercial bank and was listed on the Colombo Stock Exchange. Over the following decades, Commercial Bank expanded beyond conventional branch banking. It built a broad retail and corporate franchise, became an important lender to small and medium-sized businesses, and developed services covering trade finance, cards, remittances, mortgages, treasury activities and electronic payments. In 2000, it introduced online banking, beginning a long sequence of digital initiatives. In 2003, the bank acquired Credit Agricole Indosuez’s branches in Dhaka and Chittagong. This made it the first Sri Lankan private bank to operate outside the country and gave Commercial Bank a regional foothold in Bangladesh. The institution’s domestic importance increased as its capital, assets and distribution network grew. It became recognized as Sri Lanka’s largest private bank by net worth and capital and the third-largest bank in the country by total assets, behind the state-owned Bank of Ceylon and People’s Bank. The Central Bank of Sri Lanka designated it as the only private licensed bank in the higher domestic systemically important bank category. The bank also became a leading source of finance for Sri Lankan SMEs. For 2020, Ministry of Finance information identified it as the country’s largest SME lender, with reported lending of approximately 21.6 billion Sri Lankan rupees. International recognition followed. Commercial Bank became the first Sri Lankan bank to enter The Banker’s global top-1,000 ranking in 2008 and remained represented in the ranking for many of the subsequent years through 2021. The bank received repeated Best Bank in Sri Lanka distinctions from Euromoney and other industry recognition, while Brand Finance identified it as Sri Lanka’s strongest banking brand in 2020 and 2021. Sustainability became another formal part of the bank’s strategy. Its framework has been organized around sustainable banking, responsible organizational conduct and community impact. The bank introduced social and environmental risk assessment for lending projects, financed renewable-energy developments and launched paperless green banking in 2015. It has stated that it achieved carbon neutrality across its operations, including its branches and head office. It also participated in the Sri Lanka Banks’ Association’s Sustainable Banking Initiative. Product development continued through the late 2010s and early 2020s. The bank launched a remittance card in 2016, automated cheque-deposit technology and UnionPay cards in 2018, and QR-based credit-card settlement and missed-call balance alerts in 2020. In 2021, it added an immigration-department banking counter and partnered with DirectPay on payment-gateway and acquiring services. In 2022, it introduced home-buyer and builder financing features and Anagi Women’s Banking, designed to support women with financing and related services. The bank also operates the Flash digital-banking product. Commercial Bank celebrated its centenary in 2020 by connecting its historical banking lineage to a social initiative focused on STEM smart classrooms in 100 Sri Lankan schools. Alongside its commercial and community roles, the bank has faced regulatory scrutiny. In 2021, Sri Lanka’s Financial Intelligence Unit imposed a 3 million rupee penalty for anti-money-laundering compliance failures. Despite that episode, the institution remains an active listed bank with a major domestic franchise and a smaller international presence in Bangladesh.
- 2022
Anagi Women’s Banking and home-finance scheme
[1]The bank introduced Anagi Women’s Banking and a First Time Home Buyers & Builders scheme with insurance-related financing benefits.
- 2021
DirectPay partnership
[1]Commercial Bank partnered with DirectPay to support internet payment gateways and merchant acquiring for cashless businesses.
- 2020
Centenary STEM classroom initiative
[1]The bank marked its centenary with a plan to establish STEM-focused smart classrooms in 100 Sri Lankan schools.
- 2018
Automated cheque deposits and UnionPay cards
[1]The bank launched a fully automated cheque deposit machine and introduced UnionPay cards in Sri Lanka.
- 2016
Remittance card launches
[1]Commercial Bank introduced a card intended to simplify the transfer of overseas remittances to local beneficiaries.
- 2015
Paperless green banking facility launches
[1]The bank introduced a paperless banking facility within its wider sustainability program.
- 2008
First Sri Lankan bank in The Banker’s top-1,000 ranking
[1]Commercial Bank became the first bank from Sri Lanka to be included in The Banker’s global top-1,000 banks ranking.
- 2003
International expansion into Bangladesh
[1]The bank acquired two Bangladesh branches from Credit Agricole Indosuez in Dhaka and Chittagong.
- 2000
Online banking is introduced
[1]Commercial Bank unveiled online banking services for customers.
- 1969
Commercial Bank Ceylon is incorporated
[1]The present company was incorporated on 25 June 1969, with Eastern Bank holding 40 percent of its equity and V. Manicavasagar serving as inaugural chairman.
Products and positioning
A large, technology-oriented private commercial bank with broad retail, corporate and SME capabilities, a significant domestic distribution network and a sustainability-focused operating profile.
Personal banking
Retail banking
Commercial Bank’s retail franchise covers everyday deposit accounts, current accounts, consumer finance, mortgages, remittances, cards and branch or digital access. Its retail services combine a large domestic physical network with online, mobile and automated transaction channels.
Business banking
Corporate and SME banking
The bank provides financing and transaction services to companies and small and medium-sized enterprises. Offerings include lending, trade finance, cash management and other corporate banking facilities. Commercial Bank is particularly prominent as a lender to Sri Lanka’s SME sector.
Digital banking
Flash
Flash is Commercial Bank’s digital banking product, designed to provide customers with convenient electronic access to banking services and transactions. It forms part of the bank’s broader shift toward mobile and digitally enabled financial services.
Digital payments · 2020
ComBank Q+
ComBank Q+ is a QR-enabled payment facility that allows cardholders to settle outstanding credit-card bills. The service was associated with the LANKAQR platform and was described as a first QR-based solution of its type in Sri Lanka.
Specialized banking · 2022
Anagi Women's Banking
Anagi Women’s Banking was introduced to support and empower women through dedicated banking and financing solutions. The program was developed in collaboration with the International Finance Corporation.
Remittances and payments · 2016
Remittance card
Commercial Bank’s remittance card was designed to make the receipt and use of overseas funds more convenient for beneficiaries in Sri Lanka. It extended the bank’s remittance services beyond traditional transfer arrangements.
Housing finance · 2022
First Time Home Buyers & Builders
This housing-finance scheme was introduced for first-time home buyers and builders. Its features included free or discounted decreasing-term assurance intended to reduce the cost burden associated with protecting the loan.
Controversies
2026
Harideshaya sues Commercial Bank over alleged defamatory statements
Harideshaya.lk Chief Editor Muaz Mohamed filed a case in the Colombo District Court seeking Rs. 100 million in damages from Commercial Bank of Ceylon PLC. The claim alleges that statements the bank published on its website and social media platforms were defamatory toward the news website. The dispute concerns the bank's published statements and the news outlet's claim of reputational harm.
2021
Anti-money-laundering compliance penalty
Sri Lanka’s Financial Intelligence Unit imposed a penalty of 3 million Sri Lankan rupees on Commercial Bank for failing to comply with anti-money-laundering requirements.
Marketing campaigns
- 2020Centenary STEM Smart Classrooms
Sri Lanka
To mark its centenary, Commercial Bank focused a major community initiative on establishing smart classrooms supporting science, technology, engineering and mathematics in 100 Sri Lankan schools.
Outcome. The initiative linked the bank’s centenary program to education and technology access, although the available reference does not provide a final completion report.
- 2015Paperless green banking
Sri Lanka
Commercial Bank promoted a paperless banking facility as part of its sustainability and green-technology agenda.
Outcome. The facility supported the bank’s stated objective of reducing operational environmental impact.
Brand decisions
2022
Introduce Anagi Women’s BankingProduct launchBackground
The bank identified women’s access to finance and economic empowerment as a specialized banking opportunity and worked with the International Finance Corporation.
Action taken
Commercial Bank launched Anagi Women’s Banking as a dedicated support and financing proposition.
Aftermath
The program broadened the bank’s segment-focused offerings; the available reference does not quantify its financial results.
2015
Adopt paperless green bankingStrategyBackground
The bank’s sustainability strategy emphasized responsible banking, environmental risk management and reduction of its operating footprint.
Action taken
Commercial Bank launched a paperless green banking facility.
Aftermath
The initiative became part of the bank’s broader sustainability and digital-banking positioning.
2003
Acquire two Bangladesh branchesM&ABackground
Commercial Bank sought to extend its private-bank franchise beyond Sri Lanka and acquired branches previously operated by Credit Agricole Indosuez.
Action taken
The bank acquired the Dhaka and Chittagong branches and began operating in Bangladesh.
Aftermath
The transaction made Commercial Bank the first Sri Lankan private bank to establish operations outside the country.
Recent events
Commercial Bank launches tea-sector loan scheme[4]
Reported:
Commercial Bank of Ceylon introduced the Revitalising the Sri Lankan Tea Sector loan scheme, which offers eligible tea smallholders financing for replanting, rehabilitation and other cultivation investments.
- Unconfirmed
Harideshaya sues Commercial Bank over alleged defamatory statements[3]
Reported:
Harideshaya.lk Chief Editor Muaz Mohamed filed a case in the Colombo District Court seeking Rs. 100 million in damages from Commercial Bank of Ceylon PLC, alleging that statements the bank published on its website and social media platforms were defamatory toward the news website.
- Unconfirmed
Commercial Bank wins Daraz cards award[5]
Reported:
Commercial Bank of Ceylon received Daraz’s ‘Best Engaging Overall Cards Base’ award for generating the highest number of transactions by credit and debit card bases and the highest number of unique buyers’ engagement during financial year 2020–21.
Commercial Bank named Sri Lanka’s Best Corporate Citizen for 2021[6]
Reported:
Commercial Bank of Ceylon was declared Sri Lanka’s Best Corporate Citizen in 2021 by the Ceylon Chamber of Commerce and received the Best Corporate Citizen Sustainability Award 2021.
Commercial Bank wins Best Corporate Citizen Sustainability Award 2021[7]
Commercial Bank of Ceylon PLC won the Best Corporate Citizen Sustainability Award 2021, organized by the Ceylon Chamber of Commerce.
- Unconfirmed
Commercial Bank of Ceylon named one of Sri Lanka's 10 Most Admired Companies[8]
Reported:
Commercial Bank of Ceylon received an award naming it one of Sri Lanka's 10 Most Admired Companies, presented by ICC Sri Lanka in collaboration with CIMA.
Commercial Bank launches banking services on Viber[9]
Reported:
Commercial Bank of Ceylon launched a service that lets account holders and non-customers access banking services through an AI chatbot on Viber.
Commercial Bank and Colombo City Centre partner on apartment financing scheme[10]
Reported:
Commercial Bank of Ceylon and the developer of Colombo City Centre Residences, the Abans Group, partnered on a scheme under which the bank offers home loans and CCC pays qualifying buyers’ loan interest for up to 24 months and management fees for the first two years.
- Unconfirmed
Commercial Bank of Ceylon received the European Quality Award[11]
Reported:
The Europe Business Assembly presented the European Quality Award to Commercial Bank of Ceylon, recognizing the quality of its products and services.
Commercial Bank collaborates with UnionPay International on QR payments[12]
Reported:
Commercial Bank of Ceylon announced a collaboration with UnionPay International to enable UnionPay QR code payment acceptance in Sri Lanka.
Showing the 10 most recent.
Sources22 sources
- 1Commercial Bank of Ceylonen.wikipedia.org
- 2Commercial Bank of Ceylon official websitecombank.lk
- 3Harideshaya sues Commercial Bank over alleged defamatory statementssrilankamirror.com
- 4Commercial Bank推出茶产业贷款计划dailymirror.lk
- 5Commercial Bank赢得Daraz银行卡奖项island.lk
- 6Commercial Bank获评斯里兰卡2021年度最佳企业公民island.lk
- 7Commercial Bank荣获2021年度最佳企业公民可持续发展奖lankabusinessonline.com
- 8锡兰商业银行获评斯里兰卡最受尊敬企业之一island.lk
- 9Commercial Bank 在 Viber 推出银行服务island.lk
- 10Commercial Bank与Colombo City Centre合作推出公寓融资计划island.lk
- 11Commercial Bank of Ceylon获颁欧洲质量奖island.lk
- 12Commercial Bank与银联国际合作拓展二维码支付受理island.lk
- 13Commercial Bank 推出“定期存款现金”服务island.lk
- 14Commercial Bank推出支持LANKAQR的安卓POS设备island.lk
- 15Commercial Bank与AMW推出New Holland拖拉机农业租赁促销island.lk
- 16Commercial Bank of Ceylon推出未接来电查询信用卡余额服务island.lk
- 17Commercial Bank of Ceylon 推出 Dirishakthi COVID-19 支持贷款计划lankabusinessonline.com
- 18Commercial Bank获评2019年斯里兰卡年度银行ft.lk
- 19锡兰商业银行获评2019年斯里兰卡最佳银行lankabusinessonline.com
- 20ComBank introduces ‘e-slips’ mobile appisland.lk
- 21ComBank launches dedicated loan scheme to revitalise Sri Lanka’s tea industrylankabusinessonline.com
- 22Commercial Bank of Ceylon Launches Targeted Loan Scheme to Breathe New Life into Sri Lanka's Tea Sector - Lanka Newspaperslankanewspapers.com
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