The Commercial Bank of Ceylon has solidified its reputation for exemplary corporate reporting and governance practices by securing five prestigious awards, including two Golds, at the 2025 TAGS Awards hosted by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). This achievement underscores the bank’s dedication to the principles of Transparency, Accountability, Governance, and Sustainability.
The awards ceremony, held at the Shangri-La Hotel in Colombo, honored the bank for its 2024 Annual Report, titled “In Context – From turbulence towards tranquility,” which excelled in transparency and governance across numerous dimensions.
Commercial Bank was awarded the Overall Silver for Excellence in Corporate Reporting, highlighting the depth and clarity of its financial disclosures. The bank also received a Gold award in the Banking Sector and an additional Gold for Corporate Governance in the Financial Services Sector under the Special Awards Category.
In further recognition of its comprehensive and clear integrated disclosures, the bank earned a Silver award for Integrated Reporting and a Bronze for Digitally Transformative Reporting, both in the Special Award Category.
Commenting on the accolades, Mr. Sanath Manatunge, Managing Director/CEO of Commercial Bank, stated, “These awards validate our unwavering commitment to transparency and governance as core aspects of our business operations. The 2024 Annual Report was crafted during a period of economic transition for Sri Lanka, where clear, candid, and comprehensive reporting was crucial. Our aim was to showcase not only our financial performance but also the discipline, resilience, and strategic vision that drive sustainable value creation. This recognition by CA Sri Lanka is a testament to the professionalism of our team and the strength of the bank’s reporting framework.”
The TAGS Awards are a benchmark for excellence in corporate reporting in Sri Lanka, evaluating annual reports based on Transparency, Accountability, Governance, and Sustainability. The recognition of Commercial Bank in these categories reflects its ongoing commitment to maintaining the highest standards in financial reporting while adapting to evolving regulatory demands, stakeholder expectations, and global best practices.
The bank’s 2024 Annual Report, its 56th, documents a year of performance and governance amid economic stabilization following a period of turbulence. The theme “In Context – From turbulence towards tranquility” emphasizes the bank’s disciplined risk management, prudent capital stewardship, and long-term value creation.
Commercial Bank is renowned as the first Sri Lankan bank with a market capitalization exceeding US$ 1 billion and was the first in the country to be listed among the Top 1000 Banks of the World. It boasts the highest capital base among Sri Lankan banks, is the largest private sector lender in Sri Lanka, and the largest lender to the country’s SME sector. Ranked No. 1 in the Business Today Top 40, Commercial Bank is recognized as the most respected and most-awarded bank in Sri Lanka. It is also a leader in digital innovation, being the first 100% carbon-neutral bank in the country.
The bank operates a comprehensive network of branches and automated machines across the island and has an extensive international presence, including 20 branches in Bangladesh, a fully-fledged Tier I Bank in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). Its subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, offer a range of financial services through their branch networks.
Photo caption: Mr. Raja Senanayake, Deputy Chairman of Commercial Bank, and Mr. Sanath Manatunge, the Bank’s Managing Director/CEO, receive the Overall Silver Award for Excellence in Corporate Reporting from Central Bank Governor Dr. Nandalal Weerasinghe.
