Commercial Bank

Q: How has the bank grown over the years?
A: Commercial Bank of Ceylon completed 100 years of operations in Sri Lanka last year. The bank’s roots date back to 1920 when its forerunner Eastern Bank was incorporated in the country.

Today, Commercial Bank takes pride in being the largest private sector bank in Sri Lanka and is positioned as the most awarded banking institution. The bank has an extensive local network, and is the only private sector bank to conduct overseas operations with a presence in Bangladesh, Myanmar and the Maldives.

We are also humbly proud to have made a crucial contribution to the nation’s economy with customers ranging from the retail and corporate sectors to SMEs. 

Q: What do you consider to be the brand’s strengths and opportunities for growth?
A: Commercial Bank is a brand that has evolved with the times while always maintaining its fundamental values. This makes it one of the strongest brands in the country today.

We believe that our commitment to quality, transparent and sustainable business practices, and uncompromising determination in presenting a portfolio of products and services that make an actual difference to the lives of our stakeholders, serve as the reasons for our consistent and outstanding success.

Moreover, we believe that the brand has ample opportunities to grow locally as well as regionally in keeping with Commercial Bank’s long-term focus of being a world-class regional bank.

Q: How would you describe the impact of COVID-19 on brands and branding in general?
A: We observed the pandemic affecting brands and branding negatively, both locally and globally, owing to operational decisions originating from financial considerations.

Globally, we saw even the strongest brands closing or scaling down their operations. However, there were instances when the pandemic brought consumers closer to some brands.

We also witnessed some smaller and midsize brands fare better during the first waves of the pandemic, due to their nimbleness and flexibility. However, larger brands armed with strategic approaches did catch up rapidly.

The deciding factors as to whether a brand thrives or perishes during a pandemic are how willing it is to convert challenges into opportunities and stay true to its promise.

Q: What role can investments in brands play in accelerating business recovery in the prevailing corporate environment?
A: Brand strength is a key contributor to the success of businesses; and investing in brand building is crucial even during a recovery period such as this. A powerful brand is more resilient in turbulent market conditions due to loyal stakeholders and the availability of resources to weather the storms.

However, brand power alone does not make a brand immune to market conditions.

Organisations that have been strategic to invest in brand building as much as in operations, product development, risk management and human capital development are better geared to withstand difficult market conditions, and recover at quicker pace.

Q: Throughout the brand’s journey, how have you looked to build brand loyalty?
A: Financial services are all about the service experience since there is no tangible product to offer. Commercial Bank is a brand that evolved with the times while maintaining its fundamental values.

The bank’s commitment to maintaining high quality service – by offering innovative and customer oriented products and services, adopting transparent business practices and the utmost professionalism of its staff – has resulted in Commercial Bank enjoying a high share of brand equity and loyalty, in both the retail and corporate banking spheres.

We have had the privilege of making many financial dreams come true and those positive experiences have certainly augmented brand loyalty.

Q: How do you view the role of senior management in building the Commercial Bank brand?
A: Brand building is typically a top-down process of strategy implementation in which a carefully designed brand promise is infused into all areas of an organisation.

Support from the top management is vital in brand building; and Commercial Bank takes this aspect very seriously with senior management ensuring that all staff members completely understand and cooperate to continuously enhance the brand.

Our brand building process is carefully and meticulously thought through, involves all key stakeholders of the bank and is driven by the marketing department, to ensure that the Commercial Bank brand remains strong and ethical – a brand that is loved by all our stakeholders.

website: www.combank.lk