Bank of Ceylon marks 85 years of operations in SL

State-owned Bank of Ceylon (BoC) yesterday reached a key milestone in its journey as it marked 85 years of service to Sri Lanka.

BOC, Sri Lanka’s first commercial bank has grown into a powerhouse with the largest client base and market share, the most extensive branch network, and the widest ATM network in the country.

Addressing an event held to mark the key milestone, BOC Chairman Kavan Ratnayaka acknowledged that the bank has played a crucial role in uplifting lives and businesses of all sizes.

“The impact on the small business sector has been particularly profound. Many of the small businesses we supported have grown into large successful enterprises that now form the backbone of these success stories,” he said.

Moving forward, one of the key areas of attention for BOC will be in providing better customer experiences, focusing on sustainable banking practices, ensuring that the growth is responsible and beneficial to the environment, and strengthening partnerships with stakeholders across sectors, Ratnayaka said.

In celebration of its 85th anniversary, BOC launched a series of products and events which include; BOC Smart Freelancer Savings Scheme, Travel Medical Privilege Card (Wellglobe Card), BOC Thilinapath gift vouchers, and Little Picasso Art Competition.

Fitch Ratings in June affirmed the National Long-Term Rating at ‘A(lka)’ with a Stable Outlook, the Long Term Foreign Currency Issuer Default Rating (IDR) at ‘CC’, the Long-Term Local-Currency IDR of ‘CCC-’ with a Stable Outlook, and the Short-Term IDR at ‘C’.