The Bank of Ceylon was conferred the Master Brand status for the year 2017-2018 by the CMO Council Asia at the ceremony held at Taj Samudra Hotel Colombo recently.
Being named as the number-one brand in the country for over nine consecutive years by the Brand Finance Sri Lanka, the Bank of Ceylon currently holds the highest brand value in the country which is Rs.40 billion.
Since its inception, the BOC brand has been strategically adapting its products and services portfolio with a good understanding of future social and economic trends that requires tailor-made banking and financial services.
Currently, Bank of Ceylon is the only Sri Lankan bank to own a ‘trillion triplet’ in the balance sheet. With the current outlook on the bank’s asset growth rate at seven percent, the bank has planned to enhance its asset base up to two trillion Rupees by 2019- yet another milestone in the Sri Lankan banking industry. Such capabilities encompasses great responsibilities on the Bank of Ceylon to serve all stakeholders including its very diverse customer base from individuals to businesses and organizations from different geographic locations and economic strata. The bank’s approach to cater to the very dynamic banking needs of its customer base has been the key factor behind BOC brand’s 78-year-long success. With the time-tested vision as “Bankers to the Nation”, brand BOC has delivered the best results for its true stakeholders, citizens and the Government of Sri Lanka as a state owned bank.
BOC’s contribution does not end simply on achieving financial performance. It plays a major role in financial inclusion, developing individuals from all walks of lives, Micro and SME entrepreneur development and developing large-scale corporate businesses. Working in line with the government mandate to reach the unbanked population, and get youth and women engaged in development, the Bank of Ceylon took bold and conscious strategic decisions in invest on sustainable growth of these groups.
Further contributing towards the bank’s inherent responsibility towards National Economic development, the bank made a direct contribution towards the Government of Sri Lanka by way of significant payment of dividends and taxes in 2016, corresponding to its profit increase.
This was a substantial growth in contribution made to the government and highest made by a Sri Lankan business entity to the state. The ultimate benefits of the bank’s contribution to the government will cascade down to all citizens by means of government economic and infrastructure development and welfare programmes.