News & market updates

Commercial Bank of Ceylon ran two skills-development programmes (bakery production and beauty culture) for students at Yasodara Devi Balika Vidyalaya in Gampaha under its Diribala Next Gen School Entrepreneurship Grooming Programme with support from the Industrial Development Board. The bank says it has conducted 180 MSME awareness and skills programmes since 2011, benefiting over 15,000 entrepreneurs and youth.

Colombo Stock Exchange ASPI rose 0.77% (105.38 pts) to 13,718 as turnover reached Rs4.4bn. Major contributors were diversified financials, capital goods and food/beverage/tobacco, with heavy volumes and gains in Asia Asset Finance, Ambeon Capital, Hayleys, Central Finance, Lanka IOC and others; Sampath Bank fell and net foreign inflow was Rs47mn.

Commercial Bank will wipe out Rs 3 million of December credit card spends, awarding 60 cardholders up to Rs 50,000 each who spend at least Rs 75,000. Eligible transactions include POS purchases, online payments and payments via the Q+ app.

Colombo Stock Exchange closed up with the ASPI hitting a historic peak, rising 0.35% to 13,559 while the S&P SL20 gained 0.91% to 4,053 on turnover of Rs4.4bn, led by capital goods and banks; market participants noted bullish interest in banking, diversified financial, construction and tourism sectors.

Colombo Stock Exchange closed higher as the ASPI hit an all-time high, up 1.29% to 13,511 and the S&P SL20 rose 1.90% to 4,016 on turnover of Rs5.2bn. Banks and bluechips led gains (Commercial Bank, Sampath, John Keells, DFCC, NDB, Lion Brewery) amid bullish flows and nearing debt restructuring.

Commercial Bank of Ceylon has been named the Official Banking Partner for the 38th Colombo Shopping Festival, running Dec 13–22, 2024 at BMICH. The event is organized by Aitken Spence Conventions & Exhibitions and the partnership will provide on-site banking services and special shopper promotions.

Commercial Bank of Ceylon completed planting 100,000 trees under its 'Trees for Tomorrow' programme and pledged to plant a further 100,000 within the next 12 months. The project finished ahead of schedule and involved partnerships with universities, government agencies and conservation groups.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

Commercial Bank of Ceylon launched a pilot 'Agri Modernisation Village' programme in Mahilankadu, Kilinochchi, introducing mechanised paddy seedling transplanting and providing training, finance access and agri-technology support to local farmers.

Seven listed corporates (John Keells, Carson Cumberbatch, Aitken Spence, LOLC, Commercial Bank, Sunshine and Elpitiya Plantations) supported the Daily FT-CICRA 10th Annual Cyber Security Summit, which provided cyber security training to over 100 state university students. The full-day event covered fraud detection, data breaches and AI-related cyber risks and included a night hack and CEO Forum.

Colombo bourse rose with the ASPI up 0.9% (115 pts) and turnover jumping to Rs.5.1bn, boosted by crossings and heavy banking-sector activity. Top contributors included Sampath Bank, Commercial Bank, John Keells, Hemas and NDB, with a net foreign outflow of Rs.246.3m.

Commercial Bank of Ceylon was ranked the 'Strongest Bank in Sri Lanka' in the TAB Insights/TAB Global 1000 strength index 2024.

Colombo Stock Exchange closed higher as ASPI rose 0.88% to 13,164 and the S&P SL20 gained 1.06% to 3,917, with turnover Rs5bn and Rs2.7bn in banking stocks. The banking sector drew local investor interest after the government set a deadline for the ISB exchange, with Sampath Bank among top turnover names.

Commercial Bank of Ceylon (COMB.N0000) was ranked the 'Strongest Bank in Sri Lanka' in TAB Insights' TAB Global 1000 strength index 2024. The bank is also the first Sri Lankan bank listed among the world's Top 1000 banks and has the highest market capitalisation in the CSE banking sector.

Hatton National Bank won the Association of Professional Bankers' annual interbank quiz in Anuradhapura; Seylan Bank and Commercial Bank (B Team) finished as first and second runners-up respectively.

Commercial Bank of Ceylon (COMB.N0000) signed a bancassurance MoU with HNB General Insurance to offer HNBGI's general insurance products to Commercial Bank's 3.5 million customers via its 270 branches. HNBGI is part of HNB Assurance PLC within the HNB Group.

Colombo Stock Exchange closed higher, ASPI +0.66% to 13,049 and S&P SL20 +0.85% to 3,876, led by banking stocks with Rs2.2bn of turnover. Top contributors included Sampath, HNB, Commercial Bank, DFCC and Dipped Products; NDB's Rs5bn debenture was oversubscribed and Softlogic Life declared a Rs4.5 cash dividend; net foreign inflow was Rs95mn.

The Local Consortium of Sri Lanka, holding about 12% of outstanding ISBs, has committed to participate in the government's $12.55bn ISB Exchange Offer and Consent Solicitation. Members (including Commercial Bank, DFCC, HNB, NDB, Nations Trust, Pan Asia and Seylan) will take part in the Local Option.

Colombo bourse rebounded as the S&P SL20 rose 1.3% and the ASPI gained 0.7% on Rs.1.1bn turnover. Banking led turnover (34%) with Sampath and Commercial Bank among top contributors, capital goods and retail sectors were active, and net foreign outflow was Rs.134m.

APB hosted a CPDC session where NCGIL CEO Jude Fernando outlined a proposed credit guarantee scheme to improve MSME access to finance and lower lending risks for banks.

Members of the Local Consortium of Sri Lanka, including several domestic banks, committed to participate in the government's exchange of US$12.55bn of defaulted international sovereign bonds; local holders own about 12% and a local‑option offers instruments denominated in LKR and USD.

A local consortium of eleven banks and financial institutions, including Commercial Bank, HNB, DFCC, NDB, Nations Trust, Pan Asia and Seylan, committed to participate in the Government's exchange offer to restructure US$12.55bn of ISBs; the consortium holds ~12% of outstanding ISBs.

Commercial Bank partners with MyFees.lk to digitise education payments, expanding card and foreign-currency acceptance and integrating with Mastercard Payment Gateway Services to serve over 120 institutes and 450,000 students.

Colombo Stock Exchange ASPI rose 0.76% to 12,964 and S&P SL20 rose 1.51% to 3,852, with turnover Rs1.1bn. Banking (Rs383mn) and capital goods (Rs312mn) led activity; top gainers included John Keells Holdings, Hatton National Bank, Commercial Bank, Sampath Bank and Ceylon Tobacco.

Commercial Bank (COMB.N0000) signed a bancassurance partnership with HNB General Insurance to give the bank’s 3.5 million customers access to HNBGI’s general insurance products. The tie-up was formalized in a ceremonial signing and aims to expand insurance distribution and customer convenience.

Commercial Bank of Ceylon's ComBank Digital surpassed 1.5 million registered users, processing over 5 million transactions monthly and about Rs. 400 billion in transaction value per month. The omni-channel platform offers features including Max Rewards (1 point = Rs.1), wealth and payments functions, and corporate H2H payments to government agencies.

Colombo Stock Exchange closed lower with the ASPI down 1.44% (187.62 pts) to 12,866 and the S&P SL20 down 1.98% to 3,794 on turnover of Rs2.1bn and net foreign outflows of Rs142mn. Top negative contributors included John Keells Hotels, Hatton National Bank, Commercial Bank and Melstacorp, with banks driving significant turnover.

Government will compile a comprehensive report on SME loans and is reviewing whether to extend a temporary suspension of debt recovery under the Parate law that currently expires on 15 December. The Central Bank and commercial banks are preparing the loan data to design targeted relief and assess feasibility.

Commercial Bank of Ceylon's ComBank Digital surpassed 1.5 million registered users, processing over 5 million transactions and around Rs 400 billion in transaction value per month. The omni-channel platform serves retail, SME and corporate clients and now includes Max Rewards loyalty points.