LMD 100 Q&A

RANK 2

Our environmental leadership is exemplified by our status as Sri Lanka’s first carbon neutral bank and achievement of the Best Corporate Citizen Sustainability Award 2021

Sanath Manatunge
Managing Director
Chief Executive Officer

Q: How has your organisation supported key sectors of retail, corporate, trade and SMEs during the recent crisis? 

A: We have steadfastly supported customers through challenging times by reducing interest rates and introducing tailored relief programmes. By segmenting our customer base, we ensured solutions were customised to meet diverse needs.

In the aftermath of the COVID-19 pandemic and economic crisis, we continue to extend financial assistance through sector specific moratoriums, and our Business Revival and Rehabilitation Unit, which was established in 2020, to support underperforming enterprises. Commercial Bank actively empowers SMEs in export, manufacturing and import substitution sectors with concessionary credit lines, capacity building initiatives, networking events, trade fairs and digital transformation support.

Furthermore, our groundbreaking LEAP GlobalLinker platform enables SMEs to connect and grow on a global scale.

Q: As Sri Lanka embarks on a fresh chapter in the context of politics and the economy, how ready and geared is the corporate sector to drive growth?

A: The corporate sector has shown resilience and a renewed focus on sustainable growth despite ongoing challenges. It is positioning itself to drive progress through strategic adaptation to market dynamics, and investments in technologies such as AI and automation to optimise operations and enhance customer experiences.

Efforts towards sustainability; environmental, social and corporate governance (ESG) principles; talent development; global partnerships; foreign direct investments (FDI); and risk mitigation remain key priorities.

Q: How can Sri Lanka improve its ease of doing business and competitiveness on the international stage, in your opinion?

A: To improve competitiveness, key strategies include streamlining bureaucracy, simplifying licensing, establishing a ‘one stop shop’ business centre and digitalising government services must be enforced.

Investments in infrastructure, energy reliability and regional logistics will reduce costs and attract trade. Tax reforms, industry incentives, flexible labour policies and skills development will also support business growth.

Promoting innovation, easing access to capital and strengthening governance through anticorruption measures, transparent procurement and judicial reforms are also vital. Additionally, sustainable tourism, green initiatives and leveraging Sri Lanka’s strategic location for global trade will boost its global standing.

Once those policy frameworks are in place, it is important for us to maintain policy consistency.

Q: To what extent does your company harness technological advancements in its operations?

A: As a leader in digital banking in Sri Lanka, we are committed to transforming customer experiences by expanding our digital offerings across the retail, SME and trade sectors. Numerous processes have already been optimised through technology, delivering a seamless and efficient banking experience.

Our approach focuses on migrating customers to digital platforms for everyday transactions, while branches concentrate on providing tailored advisory services.

Commercial Bank is devoted to shaping the future of banking over the next three to five years, driven by our Future of Banking unit; ‘proof of concept’ (POC) initiatives; and strategic investments in AI, robotics, Customer Relationship Management (CRM) and Business Intelligence (BI) systems to stay at the forefront of industry advancements.

Key innovations include developing an integrated digital ecosystem designed for business clients. We remain dedicated to meeting the needs of our diverse customer base with a strong focus on digital and electronic products and services.

Q: How is your company embracing ESG standards?

A: Anchored in a strong foundation, our ESG strategy delivers responsible financial services that drive growth, underpinned by key pillars such as sustainable banking, responsible governance and community engagement, aligned with seven core Sustainable Development Goals (SDGs).

A key focus area is women’s empowerment – both externally, through targeted programmes and partnerships supporting women entrepreneurs and communities; and internally, by fostering gender equity, leadership opportunities and inclusive workplace practices.

Guided by the Executive Sustainability and Sustainability Working Committees, we oversee these initiatives holistically. A designated percentage of post-tax profits is directed towards community development through our CSR unit.

Our environmental leadership is exemplified by our status as Sri Lanka’s first carbon neutral bank and achievement of the Best Corporate Citizen Sustainability Award 2021.

Stakeholder collaboration reinforces our commitment to sustainable banking while upcoming initiatives including a Green Financing Strategy and Climate Transition Plan with global partners further our dedication to environmental stewardship.

REVENUE (RS. M)
341,566

REVENUE CHANGE
22%

PROFIT AFTER TAX (RS. M)
21,900

PROFIT CHANGE
(10)%

TOTAL ASSETS (RS. M)
2,655,612

SHAREHOLDERS’ FUNDS (RS. M)
220,471

MARKET CAP (RS. M)
124,327

EARNINGS PER SHARE (RS.)
16.07

PRICE EARNINGS RATIO
6.00

EMPLOYEES
5,201

Telephone: 2486000 | Email: info@combank.net | Website: www.combank.lk