BANK OF CEYLON
Bank of Ceylon Unveils Sri Lanka’s First Biodegradable Banking Card Pioneering a new era of sustainable banking
Bank of Ceylon (BOC) proudly announces the launch of Sri Lanka’s first-ever biodegradable banking card, coinciding with the bank’s 86th anniversary celebrations. This revolutionary card, made from non-edible corn-based PLA (Polylactic Acid), marks a significant advancement in the country’s efforts to reduce plastic waste and environmental impact.The biodegradable banking card is industrially compostable, providing an environmentally responsible alternative to traditional PVC-based plastic cards that often end up in landfills and take centuries to decompose. By introducing this eco-conscious product, BOC continues to set new benchmarks for the Sri Lankan financial sector, combining technological innovation with sustainability.
This milestone is a key part of BOC’s commitment to embedding sustainability into its products and services, ensuring that its financial solutions align with both local and global environmental priorities while offering customers a greener choice.Plastic waste has emerged as one of the world’s most pressing environmental challenges. In the banking industry alone, millions of cards are issued annually, contributing to growing landfill waste when cards expire or are replaced. The introduction of BOC’s biodegradable banking card addresses this issue head-on. By choosing non-edible corn-based PLA, the bank ensures that the material is sourced from renewable resources and remains industrially compostable at the end of its lifecycle.
“This is more than just a card—it’s a statement of our values,” said Ms. Surekha Kulasekera, Assistant General Manager (Sustainable Banking). “We are proud to be the first bank in Sri Lanka to offer a biodegradable banking card, and we believe this innovation will inspire both our customers and our peers to think differently about sustainability. Through our collaboration with global card technology leader Thales in India and our partnership with Mastercard, we also ensure that this product not only supports the planet but provides our customers with global and international payment choices.”
The new biodegradable card initiative aligns with several UN Sustainable Development Goals (SDGs), underscoring BOC’s global responsibility and forward-thinking strategy:
SDG 9 – Industry, Innovation, and Infrastructure: By integrating environmentally friendly materials into its products, BOC fosters innovation in banking infrastructure and industry practices.
SDG 12 – Responsible Consumption and Production: The bank promotes responsible use of resources by replacing traditional plastics with biodegradable alternatives.
SDG 13 – Climate Action: Reducing reliance on fossil fuel-derived plastics contributes to lower carbon emissions and climate change mitigation.
SDG 17 – Partnerships for the Goals: BOC collaborates with suppliers, customers, and stakeholders to create a shared commitment to sustainable development.
This initiative is part of BOC’s broader strategy to embed sustainability into its core operations. Over recent years, the bank has invested in green technologies, digital banking solutions, and paperless transactions. The biodegradable banking card complements these efforts by addressing a tangible and visible element of the customer experience.“Every time a customer uses this card, they are part of a larger movement towards a greener future,” added Ms. Kulasekera. “It’s a daily reminder that small changes, multiplied across millions of people, can create a profound environmental impact.”
The biodegradable banking card will be rolled out in phases, beginning with new card issuances and renewals. Customers holding existing plastic cards will have the option to switch to the biodegradable version upon renewal. The card maintains the same high standards of security, durability, and functionality as conventional cards, ensuring a seamless transition without compromising user experience.With this launch, BOC reinforces its position as an industry leader committed to innovation, environmental stewardship, and corporate social responsibility. By addressing the environmental footprint of financial products, the bank sets an example for other institutions in Sri Lanka and the broader South Asian region.
“BOC has been part of Sri Lanka’s journey for over eight decades, and as we look towards the future, we remain dedicated to being a positive force for change,” Ms. Kulasekera concluded. “Our biodegradable banking card is just the beginning of a series of sustainable innovations that we plan to introduce in the coming years.”For over 86 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation ensures that the bank’s customers have convenient access to a wide range of financial services. Moreover, BOC was ranked as the top Sri Lankan Bank among the Top 1000 World Banks 2025 and the Banker of the Year 2021, 2023, and 2024 by The Banker Magazine UK, and recognized as the most valuable Sri Lankan brand by Brand Finance Lanka. BOC also received the People’s Banking Services Brand of the Year at the SLIM KANTAR People’s Awards 2024.Internationally, Bank of Ceylon has established a strong presence in key locations such as a subsidiary in London, UK; branches in Malé and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.
