The Commercial Bank of Ceylon has enhanced its commitment to providing an exceptional customer experience by expanding its ‘ComBank Shakthi’ Agency Banking network with the addition of 22 new outlets throughout the nation. This initiative aims to increase access to banking services for communities that are typically underserved by traditional bank branches.
Following this expansion, the Agency Banking network of the bank now comprises 26 locations across the island, including the four outlets that were established previously. This move underscores the bank’s dedication to inclusivity and customer convenience, ensuring that vital banking services are accessible to individuals across different geographic and demographic areas.
The ‘ComBank Shakthi’ Agency Banking model allows the bank to collaborate with carefully selected third-party agents, usually local businesses or trusted individuals, who act as intermediaries between the bank and its clients. Through these authorized agents, customers can perform essential banking operations such as cash deposits, withdrawals, fund transfers, balance inquiries, and bill payments at more convenient locations.
This model utilizes specialized Point of Sale (POS) devices that are integrated with the bank’s proprietary software, ensuring secure, encrypted connections to the bank’s core banking systems. Transactions are processed instantly, and customers receive printed receipts along with SMS notifications, promoting reliability, transparency, and adherence to high-security standards.
The bank indicated that the expansion of the ComBank Shakthi network is a strategic effort to extend formal banking services to unbanked and underserved communities while maintaining operational efficiency in a rapidly changing financial environment. By offering a user-friendly, technology-driven channel for routine banking transactions, the initiative minimizes the time and expenses customers would typically incur traveling to the nearest bank branch.
The Agency Banking operations are closely integrated with the efforts of the Agriculture and Micro Finance Units (AMFU), capitalizing on the established relationships and community ties that AMFU staff have developed in rural areas. This strategy allows the bank to broaden its reach while reinforcing trust within local communities.
In addition to improving customer convenience, this initiative fosters broader financial inclusion by enabling more individuals and small enterprises to access formal banking services, establish savings accounts, conduct transactions securely, and participate more actively in the financial ecosystem.
The newly established ComBank Shakthi Agency Banking outlets are situated in various locations, including Katupotha, Hengamuwa, Budumuttawa, Malwathuhiripitiya, Udugampola, Koswatte, Kotiyakumbura, Akkarayankulam, Oddusudan, Baduraliya, Bombuwala, Yattapatha, Kadihingala, Batukotuwa, Wanathawilluwa, Vankalai, Pesalai, Akkaraipattu, Thirukkovil, Siththandi, Puthukkudirippu, and Lahugala. These complement the four initial locations launched in Tissamaharama, Hambantota, Siyambalanduwa, and Buttala.
The Agency Banking outlets enhance the bank’s existing network of 272 branches across Sri Lanka, raising the total number of physical access points to 298.
Commercial Bank emphasized that the ongoing development of the ComBank Shakthi network reflects its commitment to employing innovative service delivery methods to bring formal financial services closer to communities nationwide, thereby encouraging economic participation and empowering more individuals to engage with the banking system.
As the first Sri Lankan bank to surpass a market capitalization of US$ 1 billion and the first to be recognized among the Top 1000 Banks globally, Commercial Bank holds the highest capital base among all banking institutions in Sri Lanka. It is the largest private sector lender in the country and the foremost lender to the SME sector. Acknowledged as the most respected and awarded bank in Sri Lanka, Commercial Bank is also a leader in digital innovation and has attained the distinction of being the first 100% carbon-neutral bank in the nation.
The bank boasts the widest international presence among Sri Lankan banks, with a network that includes 20 branches in Bangladesh, a fully operational Tier I bank with a significant stake in the Maldives, a microfinance enterprise in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). Additionally, its wholly-owned subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, offer a variety of financial services through their own branch networks.
Photo caption: Two of the Agency Banking outlets in operation.
