ComBank tops Business Today’s Top 40 Rankings for 2024–25

The Commercial Bank of Ceylon has been ranked No. 1 in the Business Today Top 40 for 2024–25, securing an aggregate score of 37.65 to lead the ranking of Sri Lanka’s top listed enterprises. 

This achievement marks the 17th consecutive year the Bank has been ranked among the country’s top five strongest corporate entities.

In its evaluation, Business Today described Commercial Bank as «a beacon of resilience and renewal,» noting that the Bank’s performance in 2024 was driven by strategic transformation and disciplined execution. 

The publication highlighted the Bank’s strength across key business lines and its ability to navigate a challenging economic landscape without compromising its commitment to sustainable growth.

The ranking follows a historic financial year for the institution, during which it delivered the highest profits in its history. According to the magazine, the Bank’s Group net interest income rose by 36.71 percent to Rs. 118.13 billion, while its loan book expanded by Rs. 221.34 billion in 2024. 

Furthermore, the Bank successfully strengthened its capital adequacy through an equity capital infusion of Rs. 22.54 billion via a rights issue and raised Rs. 20 billion in Tier II capital through a debenture issue.

Commercial Bank Chairman Sharhan Muhseen attributed these record-breaking results to a disciplined focus on efficiency, digital innovation, and customer-centered transformation. He noted that these qualities enabled the Bank to strengthen its market position and make meaningful contributions to the national economic recovery.

Reflecting on the recognition, Managing Director and CEO Sanath Manatunge stated that the ranking is a powerful endorsement of the discipline and purpose with which they steered the Bank through a year of tough conditions. He remarked that their performance was defined by navigating turbulence without losing sight of priorities such as strengthening fundamentals and supporting customers. Manatunge added that the ranking confirms their strategy is delivering results and that the Bank is firmly positioned to contribute to national progress with renewed confidence.

Commenting on the wider landscape, Business Today noted that the 2024–25 Top 40 ranking celebrates the resilience and adaptability of Sri Lankan corporates in a gradually improving economic environment. The magazine observed that the past year marked a turning point driven by stabilization and policy realignment, with the winners exemplifying how restored economic stability is translating into stronger performance.

Commercial Bank is the largest private sector lender in Sri Lanka and the country’s first 100 percent carbon-neutral bank. It holds the highest Tier I capital base among local banks and was the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and to exceed a market capitalisation of US$ 1 billion.