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The Automated Teller Machines (ATMs) of the Commercial Bank of Ceylon dispensed a mammoth Rs 25.3 billion in December 2012, establishing an all-time high for cash dispensed in a single month.

The Bank’s 555 plus ATMs processed a record 5.57 million transactions between 1st and 31st December, and issued more than a billion rupees in a day five times during the month, on 10th December, the 21st, 24th, 28th and 31st.

In the week preceding Christmas day, the Commercial Bank ATM network, which is the single largest automated cash dispensing system owned by a bank in Sri Lanka, dispensed Rs 6.56 billion as preparations for the festivities reached a peak.

The cumulative value of cash withdrawn in December 2012 beat the previous record set in April 2012 by 10 %, the Bank said.

The highest number of transactions processed on a single day during the month was 274,000, on 31st December.

“Once again, our ATM network has played an indispensable role in enhancing convenience for hundreds of thousands of Sri Lankans during one of the busiest periods of the year,” Commercial Bank’s Assistant General Manager - Operations Mr Palitha Perera said.

He said the record statistics also underline the robustness, capacity and reliability of the Bank’s ATM network and are a strong case for continued investment in expanding delivery channels to support the needs of customers country-wide.

Holders of Commercial Bank’s standard ATM cum Shopping Debit Cards can withdraw up to Rs 40,000 from the Bank’s ATMs per withdrawal. The Bank also offers customers the option of setting their own ATM withdrawal limits up to a maximum of Rs 100,000 a day, and a point-of-sale limit of up to Rs 500,000.

Commercial Bank is the largest private bank in Sri Lanka, and operates a network of 227 computer-linked branches and service points. The Bank won four major international awards as Sri Lanka’s Best Bank and Best Trade Bank in 2012 , and had the distinction of being the only Sri Lankan bank to be listed among the Top 1000 Banks of the World two years consecutively. In addition, the Bank’s 2011 Annual Report recently won three awards, including the Edmund J. Cooray Memorial Trophy for the Best Annual Report among the banking institutions.
Overall, Commercial Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.

The Commercial Bank of Ceylon has commissioned its first drive-through Automated Teller Machine in Sri Lanka, bringing a new dimension in convenience to busy customers.

The drive-through ATM, located at the Bank’s Reid Avenue branch, Thunmulla, was formally commissioned by Commercial Bank’s Managing Director/CEO Mr Ravi Dias.

Commercial Bank’s ATM network of 555 plus terminals is the single largest automated cash dispensing system owned by a bank in Sri Lanka. More than 100 of these ATMs are installed at off-site locations, including railway stations, bus terminals and shopping malls for the convenience of the public.

Commercial Bank is the largest private bank in Sri Lanka, and operates a network of 227 computer-linked branches and service points. The Bank has the distinction of being the only Sri Lankan bank to be listed among the Top 1000 Banks of the World two years consecutively. Commercial Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.

In the picture, Commercial Bank Managing Director/CEO Mr Ravi Dias uses the drive-through ATM at its formal commissioning.

Up to Rs 1.5 million to be won in exciting ‘Double Your Value’ promotion ending 11th January 2013

As festive cheer reaches a peak, the Commercial Bank of Ceylon has announced a windfall for lucky recipients of remittances via e-Exchange, the Bank’s sophisticated real-time on-line money transfer service.

The Bank says it will double the value, up to a maximum of Rs 100,000, for remittances received between 15th December 2012 to 11th January 2013, with winners to be selected at four weekly draws, giving users of the service something more to cheer about.

A total of Rs 1.5 million has been set aside as prize money under this promotion, which invites remitters to ‘Double the value you send to Commercial Bank this season.’ All beneficiaries of e-Exchange remittances -- both Cash and Account transfers -- will be eligible to participate in that week’s draw, at which a total of Rs 375,000 can be won.

“The period leading up to Christmas and the New Year is a peak period for remittances,” said Mr Pradeep Banduwansa Commercial Bank’s Chief Manager – e Banking Division. “Therefore, running a promotion of this nature enables a larger segment of customers to participate and share in the excitement.”

Weekly draws to select winners are scheduled to be conducted on 24th and 31st December 2012 and on 7th and 14th January 2013.

Commercial Bank’s ‘e-Exchange’ service is a highly secure, low cost money transfer facility which is available to remitters via a network of agents in over 50 countries. Recipients of remittances can collect proceeds from any of the Bank’s computer-linked service points, a significant number of which are open even on bank holidays, and access their funds through its network of 550 ATMs, which is the largest cash-dispensing system owned by a single bank in the country.

Commercial Bank is the largest private bank in Sri Lanka, and operates a network of 227 computer-linked branches and service points. The Bank won four major international awards as Sri Lanka’s Best Bank and Best Trade Bank in 2012 , and had the distinction of being the only Sri Lankan bank to be listed among the Top 1000 Banks of the World two years consecutively. In addition, the Bank’s 2011 Annual Report recently won three awards, including the Edmund J. Cooray Memorial Trophy for the Best Annual Report among the banking institutions.
Overall, Commercial Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines.

The Commercial Bank of Ceylon won three awards, including the Gold award in the Banking sector for its 2011 Annual Report, reiterating the high standards set by the Bank for financial reporting and corporate disclosures at the 4th annual reports awards ceremony organized by The Institute of Chartered Accountants of Sri Lanka (CASL) which took place on Wednesday 5th December 2012, at Waters Edge, Battaramulla.

The Bank won the Edmund J. Cooray Memorial Trophy for the Best Annual Report among the banking institutions whose annual reports were scrutinised for the awards, the Bronze for Overall Excellence in Annual Financial Reporting across all sectors and the Silver Award for Corporate Governance Disclosure. This is the ninth time that Commercial Bank won the Gold Award in the Banking sector.

“As our operations expand and grow in complexity, the quality of financial reporting must keep pace and match global best practice standards,” Commercial Bank’s Chief Financial Officer Mr. Nandika Buddhipala said. “This is an area that receives a lot of attention at Commercial Bank every year, and we are proud to continue to be a benchmark for financial reporting, not just among the banks but across all sectors of business.”

The awards reflect the Bank’s effectiveness in communication of financial and non-financial information to stakeholders and its strict compliance with legislative requirements and accepted accounting best practices. In evaluating reports for the awards, the CASL looks at the organization’s ability to effectively communicate organizational objectives, highlights, performance, personnel and management to an intended audience.

With these latest awards, Commercial Bank ends a year of noteworthy accolades, including four major international awards as Sri Lanka’s Best Bank and Best Trade Bank, and the distinction of being the only Sri Lankan bank to be listed among the Top 1000 Banks of the World two years consecutively. The Bank moved up 23 places in this ranking this year and is the highest ranked Sri Lankan bank.

Established in 1969, Commercial Bank is the largest private bank in Sri Lanka, and operates a network of 226 computer-linked service points and the country’s single largest ATM network of 550 terminals. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines. The Bank’s operations in Bangladesh comprise of 17 service points.

Photo Captions:

1) Mr Nandika Buddhipala Chief Financial Officer of Commercial Bank (extreme right) receives the Gold Award for Banking Institutions (Edmund J Cooray memorial trophy) from CA Sri Lanka President, Mr. Sujeewa Rajapakse in the presence of Secretary to the Ministry of Co-operatives and Internal Trade, Mr. G.K.D. Amarawardena, Chairman of the Annual Report Awards Committee 2012, Mr. Tishan Subasinghe and Deputy General Manager- HR & Administration, Hatton National Bank PLC, Mr. Mancius Paiva.

2) Commercial Bank Chairman Mr Dinesh Weerakkody (3rd from right) receives the Bronze Award for Overall Excellence in Annual Financial Reporting from Central Bank Governor, Mr. Ajith Nivard Cabraal in the presence of CA Sri Lanka Vice President, Mr Arjuna Herath, CA Sri Lanka President, Mr. Sujeewa Rajapakse, Commercial Bank Chief Operating Officer Mr Jegan Durairatnam and Chairman of the Annual Report Awards Committee 2012, Mr. Tishan Subasinghe.

3) Mr. Delip Fernando, DGM – Inspection at Commercial Bank (extreme right) receives the Silver Award for Corporate Governance Disclosure from Central Bank Governor, Mr. Ajith Nivard Cabraal in the presence of CA Sri Lanka President Mr. Sujeewa Rajapkse and CA Sri Lanka Past President, Mr. U.H. Palihakkakara.

Commissions its 549th & 550th ATMs at Southern Expressway’s Rest & Recreation stop at Canowin Arcade, Welipenna

Motorists who use the Southern Expressway now have access to Sri Lanka’s single largest automated cash dispensing network, following the commissioning by the Commercial Bank of Ceylon of two ATMs on this popular artery.

The Bank’s two new ATMs at the Canowin Arcade Rest and Recreation complex at Welipenna became operational immediately after the opening of the complex by His Excellency President Mahinda Rajapaksa. The ATMs are linked to all other ATMs of Commercial Bank in Sri Lanka, offering a 24-hour, 365-day facility for cash withdrawals as well as settlement of utility bills and credit card dues.

Commercial Bank ATMs also support the networks of MasterCard, Maestro, Cirrus, Visa, Plus, Amex, Discover and Diner’s Club, thereby enabling tourists and other visitors using the expressway to Sri Lanka to withdraw money from their overseas accounts.

“We are pleased to provide this important facility to users of the Southern Expressway,” said Mr. Ravi Dias - Managing Director/Chief Executive Officer of Commercial Bank. “ATMs promote efficiency and productivity, and as the bank which operates the country’s single largest ATM network, Commercial Bank is best able to serve the thousands of motorists using this route.”

Commercial Bank has also installed its ATMs at main railway stations for the convenience of commuters.

Located in every district of the country, Commercial Bank ATMs are installed at 226 branches and service points of the Bank as well as at more than 115 conveniently accessible off-site locations. In addition to facilitating withdrawals, the Bank’s ATM machines enable convenient settlement of water and electricity bills, bills of Dialog, Mobitel, Etisalat, Hutch and Lanka Bell networks, and Commercial Bank Credit Card payments. The Bank’s ATM network is also linked with millions of other ATMs across the world.

Commercial Bank is the largest private bank in Sri Lanka, and the only Sri Lankan Bank listed two years consecutively in world’s Top 1,000 Banks. The Bank has been adjudged ‘Best Bank in Sri Lanka’ for 14 consecutive years by ‘Global Finance’ Magazine, and has won multiple awards as the country’s best bank from ‘The Banker,’ ‘FinanceAsia,’ ‘Euromoney’ and ‘Trade Finance’ magazines. Commercial Bank also operates 17 service points in Bangladesh.