Bank of Ceylon (BOC), Sri Lanka’s premier financial institution, has been awarded the prestigious title of ‘Bank of the Year Sri Lanka 2024’ by The Banker magazine, a leading publication from the Financial Times Group in the United Kingdom.

This accolade marks the third time BOC has received this honor, having previously secured the title in 2021 and 2023. The recognition underscores BOC’s unwavering commitment to excellence, innovation, and its pivotal role in the nation’s financial sector.

In addition to this esteemed title, BOC has achieved the remarkable distinction of being the only Sri Lankan bank listed among the Top 1,000 World Banks for 2024. This inclusion reflects the bank’s financial stability, robust management practices, and its dedication to maintaining global banking standards.

The Banker magazine’s evaluation process highlights banks that demonstrate growth while maintaining a solid balance sheet, improving service quality, investing in technology, and fostering sustainability both internally and within their communities. For 2024, the awards recognized excellence among banks in 127 countries.

Amid global economic challenges and domestic financial instability, BOC has showcased exceptional resilience. Its strategic initiatives and prudent financial management have ensured sustainable performance, reinforcing its status as a cornerstone of Sri Lanka’s banking sector.

BOC Chairman Kavinda de Zoysa expressed his gratitude, stating, “Being named Bank of the Year Sri Lanka 2024 by The Banker magazine UK is a tremendous honor that reaffirms our financial strength, innovative strategies, and commitment to excellence. In addition, we are proud to be the only Sri Lankan bank listed among the Top 1,000 World Banks for 2024.”

General Manager/CEO Russel Fonseka added, “This recognition is a tremendous honor for the BOC family. Having first won this title in 2021 and again in 2023 and 2024, we have worked to uphold this standard of excellence. This prestigious international award stands as a testament to our unwavering commitment to financial stability, exemplary management practices, trustworthiness, transparency, and adherence to the highest standards of good governance.”

BOC continues to play a vital role in advancing Sri Lanka’s economy by providing tailored financial solutions to key sectors, including agriculture, industry, and tourism. Through programs like the ‘BOC Youth Loan Scheme,’ the bank supports over 10,000 young entrepreneurs, enabling them to turn their business aspirations into reality. Additionally, BOC has empowered women entrepreneurs through the ‘Ran Liya Loan Scheme,’ assisting women in achieving financial independence and building sustainable businesses.

Furthering its commitment to underserved communities, BOC has introduced the ‘BOC Gammana Program,’ focusing on enhancing financial literacy and fostering inclusive economic growth. This initiative aims to uplift rural areas by equipping individuals with the knowledge and resources needed to manage finances effectively.

These accolades and initiatives reflect BOC’s dedication to its mission as ‘Bankers to the Nation,’ continually shaping the future of Sri Lanka’s banking sector and contributing to the country’s economic development.