Our Journey

1920

Eastern Bank Limited (EBL) opens a branch in Chatham Street

1957

EBL was acquired by Chartered Bank

1969

Commercial Bank of Ceylon Limited was incorporated with EBL holding a 40% stake

1971

Business of EBL integrated with Chartered Bank

1972

First two branches opened in Galewela and Matale

1973

Acquired Galle, Jaffna and Kandy branches of Mercantile Bank Limited

1979

Offshore banking centre formed

1980

Commercial Development Company (CDC) formed to construct the Head Office building with 40% equity participation

1984

Head office moved to new premises at No. 21, Sir Razik Fareed Mawatha, (formerly Bristol Street), Colombo 1

1987

EBL changed its name to Standard Chartered (UK) Holdings Limit

1990

Introduced ATM facilities to customers

1993

Introduced core banking software-International Comprehensive Banking System (ICBS)

1996

Increased shareholding in CDC to 94.5% through a share swap

1997

Standard Chartered Bank sold its 40% stake in the Bank

1998

  • First 365-day branch opened in Colombo 7
  • All branches linked to ICBS except Jaffna

1999

Banking and supermarketing were combined by opening the first “MiniCom”

2000

Launched Internet Banking

2001

Opened the 100th branch at Kaduruwela and the Gold Trading Unit at the Foreign Branch

2003

Acquired operations of Crédit Agricole Indosuez in Bangladesh

2005

Raised USD 65 Mn. syndicated loan, becoming the 1st non-sovereign corporate in Sri Lanka to source external funding

2006

  • Issued USD 10 Mn. bond, becoming the first indigenous bank to do so
  • Opened 150th branch at Mahiyanganaya

2008

First Sri Lankan bank to be ranked among the top 1,000 banks in the world

2009

First Sri Lankan Bank to be certified CMMi

2010

Reached milestone 400th ATM at the Ruwanwella branch

2011

  • Commenced “Sharia” compliant Islamic Banking
  • Opened 200th branch in Kataragama
  • Opened an exclusive “Elite” Branch at Colombo 7 for high net worth customers
  • ATM network expanded to 500

2012

  • Became the first Sri Lankan Bank to Link it’s ATMs to China UnionPay
  • Raised USD 65 Mn., from the International Finance Corporation (IFC)
  • Launched an exclusive savings account for women named “Anagi”

2013

  • Launched sophisticated Internet Banking service (On-line Banking) in Bangladesh
  • Raised a 10-year subordinated debt of USD 75 Mn. from IFC
  • Opened “24-hour automated Banking Centre’ at Ward Place

2014

  • Bank’s first “Forex ATM” installed at Crescat Boulevard
  • Commissioned 600th ATM at the new Colombo Gold Centre
  • Bank acquired the 100% stake of Indra Finance Limited
  • Became the first Sri Lankan Bank to be granted a license by the Central Bank of Myanmar to operate a Representative Office

2015

  • Launched paperless green banking facility
  • Launched new generation of automated cash deposit terminals eliminating the use of paper
  • Indra Finance, a fully-owned subsidiary of Commercial Bank, renamed Serendib Finance Limited
  • Bank branches go green with the installation of solar power systems at four branches

2016

  • Only Sri Lankan bank to be ranked among the “Top 1,000 banks in the world” for the 7th time, the 6th consecutive year
  • Launched Sri Lanka’s first Remittance Card
  • Commenced Commercial operations of Commex Sri Lanka S.R.L. Italy, our fully owned subsidiary
  • Opened Commercial Bank of Maldives Private Limited, 2nd foreign subsidiary with a 55% stake
  • The Bank became a Trillion-Rupee Asset company

2017

  • Became the first ATM network to be fully EMV compliant in Sri Lanka
  • Introduced Mastercard Debit Cards with Chip and PIN technology for the first time in Sri Lanka
  • Introduced mobile banking in the literal sense with the launch of “Bank on Wheels” – a modified and branded vehicle designed to provide basic over-the-counter banking facilities to customers living outside city limits
  • “World Finance” the prestigious London-based magazine declares COMBANK the best in Sri Lanka for digital and mobile banking
  • Commercial Bank of Maldives opens its second branch in Hulhumalé
  • COMBANK tops private banks in Interbrand’s inaugural ranking of country’s best brands
  • Commercial Bank’s Annual Report 2016 wins overall award for best annual report at the ICASL Annual Report Awards
  • The Bank was named among the “Top Companies in Asia” and the “Top Green Companies in Asia” at the 2017 Asia Corporate Excellence and Sustainability (ACES) awards
  • Established 100% owned CBC Myanmar Microfinance Company Limited, 3rd foreign subsidiary

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