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ComBank’s Cyclone Ditwah recovery support crosses Rs. 125 Mn

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by

Sienna De Silva
in

As part of its ‘Rebuild Together’ initiative, the Commercial Bank of Ceylon has announced a commitment exceeding Rs. 125 million to support recovery efforts following Cyclone Ditwah. This includes a significant donation of Rs. 110 million to the Rebuild Sri Lanka Fund, aimed at aiding the country’s recovery from the cyclone’s impacts.

The Bank’s contribution was officially presented by Mr. Sanath Manatunge, Managing Director/CEO; Mr. S. Prabagar, Chief Operating Officer; and Ms. Ashani Senaratne, Assistant General Manager – Marketing, to Dr. Nandika Sanath Kumanayake, Secretary to the President.

As Sri Lanka’s largest private sector bank, Commercial Bank has initiated several measures to address both immediate relief and long-term recovery needs. The Bank donated dry rations, which are being distributed by the Sri Lanka Air Force to over 5,000 families affected by floods. In support of business recovery, and following the Central Bank’s announcement of relief measures for disaster-affected borrowers, Commercial Bank has extended financial assistance to help businesses stabilise and resume operations.

The Bank has also contributed to strengthening disaster preparedness by supporting the Disaster Management Centre through the sponsorship of the revamp of the RiskInfo Spatial Data Portal. This initiative is intended to enhance national disaster risk management capabilities.

Recognising the importance of education as a core aspect of its corporate social responsibility, Commercial Bank has taken steps to support children’s return to school. The Bank facilitated the clean-up of affected schools and provided essential stationery supplies to students following Cyclone Ditwah.

The Bank’s ongoing efforts reflect its commitment to supporting Sri Lanka’s recovery and resilience in the aftermath of natural disasters.

Comments

One response to “ComBank’s Cyclone Ditwah recovery support crosses Rs. 125 Mn”

  1. Arvin Jayasuriya Avatar
    Arvin Jayasuriya

    A Disgraceful Contribution by a Leading Commercial Bank to the National Rebuilding Fund
    The contribution of just US$ 400,000 (approximately Rs. 120 million) by one of Sri Lanka’s top commercial banks (whose market capitalisation is over US$ 1 billion) to the Rebuilding Fund is deeply disappointing, especially considering the extraordinary profits these banks earned after imposing excessive interest rates and aggressive foreclosures during the 2022 financial crisis.
    Having benefited so significantly from public hardship, are banks now positioning themselves for another cycle of super profits? If this is the standard of corporate responsibility today, it raises serious concerns about what the public can expect from the banking sector in 2026.
    The Central Bank of Sri Lanka should seriously consider mandating all licensed banks to contribute at least 10% of their annual profits to the National Rebuilding Fund, ensuring that those who gained the most from the crisis play a fair role in rebuilding the country.

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