The Bank is the largest private sector bank of domestic origin in Sri Lanka in terms of assets, deposits, loan book and profits. Although the Bank was incorporated in 1969, its history dates back to the 1920s. From then onwards the Commercial Bank has maintained continuous growth through expansion of its branch network in Sri Lanka. In 2003, the Bank commenced business in Bangladesh, with the acquisition of the Bangladeshi operations of Credit Agricole Indosuez. Please refer the branch network in Sri Lanka and Bangladesh.
In addition, Commercial Bank has placed Business Promotion Officers in Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates with the objective of promoting the Bank's e-Exchange facility among the Sri Lankan expatriates and to canvass new accounts while promoting various other types of products.
The Bank conducts its operations through a network of 227 manned and 555 automated delivery points in Sri Lanka, 17 manned and 17 automated delivery points in Bangladesh. A complete list of bank's delivery channels is given in the table below:
The total staff strength of the Bank in Sri Lanka is 4,400 and 202 in Bangladesh. Information on ownership structure, identity and percentage of ownership by largest shareholders is found in the Section on 'Investor Relations'.
In 2012, the Bank recorded a total income of Rs. 63.395 Bn. (Rs. 45.859 Bn. in 2011) and profit after tax of Rs. 10.098 Bn. (Rs. 7.883 Bn. in 2011) while its total equity and debt stood at Rs. 52.576 Bn. and Rs. 9.293 Bn. respectively as at end 2012 (Rs. 43.764 Bn. and Rs. 0.973 Bn., respectively as at end 2011). The compounded annual growth rate (CAGR) of the Bank's total assets, loan book and profit after tax which exceeded 20% over the past decade amply demonstrates the confidence placed in the Bank by our customers.
Branches | Automated Teller Machines (ATMs) | Internet Based | Mobile Phone Based | Electronic Cards/E-cash |
Branch Network | ATMs at branches | ComBank Corporate Web | Telephone Banking | Debit & Credit Cards tied up with VISA & MasterCards |
Customer Service Points | Offsite ATMs at Railway Stations, Retail Outlets, Hospitals & Other Commercials & Public places | Combank Online - Internet Banking | SMS Banking | Point of Sale (POS) Machines |
Holiday Banking Centre | Drive through ATMs | Paymaster | Mobile Banking | e-Exchange |
Supermarket Banking Centres | Mobile ATMs | |||
Priority Banking Centres/ Elite Banking | KIOSKS | |||
24-hour Banking Centre | ||||
Call Centre |
Abb/Suffix | ∞ | + | x | ∗ | ❖ | Ο | ☉ | ♦ | ✰ | (^) | ⌨ | ≠ | ☐ | • | |
Weekdays | 9 to 3 | 8 to 2 | 8 to 6 | 8.30 to 3 | 9 to 3 | 9 to 3 | 9 to 3 | 9 to 4 | 9 to 4 | 9.30 to 7 | 10 to 5 | 10 to 7 | 10 to 7.30 | 10 to 7.30 | 24 Hrs |
Saturday | - | - | 9 to 1.30 | - | 9 to 1.30 | 9 to 1.30 | - | - | 9 to 1.30 | 9.30 to 7 | 10 to 5 | 10 to 7 | 10 to 7.30 | 10 to 7.30 | 24 Hrs |
Sunday | - | - | - | - | 9 to 1.30 | - | 9 to 1.30 | - | - | 9.30 to 7 | - | 10 to 7 | 10 to 5.00 | 10 to 7.30 | 24 Hrs |
Bank Holidays | - | - | - | - | 9 to 1.30 | - | - | - | - | 9.30 to 7 | - | 10 to 7 | - | 10 to 7.30 | 24 Hrs |
Branches open from 9 a.m. to 1.30 p.m. on bank holidays will be notified by press releases.
The Bank focused its attention more towards centralisation of processes such as loan processing and regulatory reporting with a view to achieve cost savings and to enhance customer convenience. The centralisation of loan processing centralisation facilitates the Bank to minimise paper usage as the activities from submission of application to approval of loans are now being carried out via a specialised software.
In addition, the Bank acquired specialised software, which are now being tested, with a view to provide enhanced services to customers of the Treasury Department and also to identify potential risks through improved Management Information Systems.
Further, during the year the Bank took steps to relocate 22 delivery points in addition to adding 14 new delivery points and 55 ATMs to its network of manned and unmanned delivery points intending furtherance of customer convenience and hence their satisfaction. See maps on ‘Network of Delivery Points in Sri Lanka and Bangladesh’.
During the year, the Bank successfully raised long term loan of US $ 65 Mn. from International Finance Corporation (IFC) mainly to provide financial assistance to SME Sector. There was no major change in the Stated Capital of the Bank.
The Bank successfully managed the transformation to the new financial reporting framework this year with the adoption of the new Sri Lanka Accounting Standards (SLFRS) issued by The Institute of Chartered Accountants of Sri Lanka. We will continue to enhance the internal reporting systems and control framework to adhere to the reporting requirements of the new accounting standards. More details on convergence of Sri Lanka Accounting Standards with the International Financial Reporting Standards (IFRSs) is given in Note 59 to the Financial Statements.
Currently the Bank serves over two million customers spread across corporate, institutional, public sector and retail segments including SMEs and individuals via an array of products, services and delivery channels. Details of the products and services offered to serve our customers categorised under four main business divisions of the Bank namely, Corporate Banking, Personal Banking, Treasury and International Operations are given in the respective sections. This breakdown does not necessarily match with the administrative reporting levels established in the Bank.
2012 | 2011 | |||
BANK | Rs. Mn. | % | Rs. Mn. | % |
Profit before Tax | ||||
Corporate Banking | 4,192.5 | 29.25 | 3,435.3 | 31.27 |
Personal Banking | 6,996.4 | 48.80 | 4,506.4 | 41.01 |
Treasury | 1,490.0 | 10.39 | 1,636.0 | 14.89 |
International Operations | 1,657.1 | 11.56 | 1,409.7 | 12.83 |
Total | 14,336.0 | 100.00 | 10,987.4 | 100.00 |
Loans & Advances | ||||
Corporate Banking | 109,664.2 | 32.85 | 91,976.5 | 32.46 |
Personal Banking | 191,498.5 | 57.37 | 168,763.3 | 59.56 |
International Operations | 32,647.7 | 9.78 | 22,603.8 | 7.98 |
Total | 333,810.4 | 100.00 | 283,343.6 | 100.00 |
Deposits | ||||
Corporate Banking | 45,650.7 | 11.93 | 39,607.5 | 12.44 |
Personal Banking | 301,251.4 | 78.71 | 253,179.3 | 79.50 |
International Operations | 35,820.2 | 9.36 | 25,674.7 | 8.06 |
Total | 382,722.4 | 100.00 | 318,461.5 | 100.00 |
The data and information presented in the table above have been extracted from the Management Accounts prepared by the Bank which are based on SLAS balances generated by the Bank's computer system.
All business units of the Bank recorded improved results during the year. A general overview, operating environment for main lines of products and their performance and the strategic snapshot of each business unit is given below.