As a responsible corporate entity, Bank of Ceylon is committed to aligning its impact on Sustainable Development Goals (UN SDGs) and to take holistic action towards addressing global challenges.

The Bank’s performance in this regard is expressed in detail in the Stakeholder Outcomes section of the Report. The section includes clear signposting and referencing to highlight contribution to the SDGs.

When assessing performance against the SDGs, the Bank evaluates contribution to the broader principle of each goal and also attempts to measure performance via the globally accepted indicator framework for the SDGs, developed by an inter-agency expert group on the SDGs, and adopted by the UN General Assembly on 6 July 2017 (A/RES/71/313).

SDG 1: No poverty

Target 1.4

The Bank’s efforts towards financial inclusion of vulnerable and underserved communities directly contribute to Target 1.4 and Indicator 1.4.1 – by ensuring men and women, with focus on the poor and the vulnerable, have equal rights to financial services, including microfinance.

BoC’s branch network coupled with mobile and extension services, ensure that financial services are easily accessible and within reach for millions of Sri Lankans. In addition, microfinancing initiatives and focused development lending improve access to finance and contribute to economic development and poverty alleviation.

LKR 59.4 million

disbursement to BoC Mithuru microfinance groups during the year


BoC Mithuru groups formed during the year

LKR 4.3 billion

disbursed to women-headed/women-owned businesses


of lending to women-headed/women-owned businesses (from total lending to MSMEs)

SDG 2: Zero hunger

Target 2.3Target 2.a

The Bank’s extension of finance and support to the agricultural sector, in particular through development lending and advisory services that focus on SMEs, directly contributes to SDG 2 and Target 2.3 – by creating access to affordable capital and enhancing knowledge that can improve agricultural productivity and incomes of small-scale food producers, and create increased access to markets and opportunities for value addition. The Bank’s role as a Participatory Financial Institution further contributes to Target 2.a – by increasing investment, especially through enhanced international cooperation, for rural infrastructure and the agriculture sector.

In 2022, the Bank has disbursed over LKR 12.5 billion in development lending to the agriculture sector (including livestock, dairy, aquaculture, fisheries, food processing and more). The Bank also funded the Paddy Marketing Board (PMB) with facilities amounting to LKR 9.1 billion as at year end. PMB is the Country’s primary institution supporting food security, smallholder agriculture, and livelihoods of millions of Sri Lankans.

In addition, the Bank took steps to promote home gardening at institutional and household level, through its network of branches. 328 branches and 148 individuals engaged with "Shasreeka Gewaththa" home gardening programme in 2022.

SDG 3: Good health and wellbeing

Target 3.8Target 3.c

The Bank’s extension of facilities to the healthcare sector, coupled with charitable support to local and national healthcare institutions directly contribute to SDG 3 and Target 3.c – by contributing to financing of the healthcare sector. Further, the Bank’s support for import of essential pharmaceuticals during the Country’s foreign exchange crisis, contributed to Target 3.8 – by improving access to safe, effective, quality, affordable, and essential medicines and vaccines.

In 2022, the Bank extended facilities amounting to USD 65.1 million to state importers of essential pharmaceuticals despite the foreign currency liquidity crisis that existed in the Country.

LKR 430.0 million

retail loans granted to healthcare, social and support services

SDG 4: Quality education

Target 4.1Target 4.4Target 4.a

Supporting education is a key component of the Bank sustainability agenda. The Bank supports the entry of youth into the banking sector and provides them with continuous and comprehensive training and development, which directly contributes to Target 4.4 - by increasing the number of youth who have relevant skills to take up decent jobs in the financial sector. In 2022, the Bank provided training for 521 university students and 85 audit trainees, in addition to training 1,559 youth just out of secondary school.

BoC’s provision of educational scholarships and support for educational programmes, workshops, and seminars, directly contributes to Target 4.1 – by enabling students to stay in school, and complementing state education with financial support and/or innovative learning opportunities that can lead to better learning outcomes. During the year, the Bank provided LKR 30 million in scholarships through the Nana-jaya programme; conducted 19 scholarship seminars that reached 21,000 students through the Nana-mihira programme; aired educational programmes through mainstream media (TV, radio, and print media); developed customised education programmes through the Bank’s tvBoC team; organised targeted virtual seminars for Advanced Level (A/L) students; sponsored field visits to museums and other locations for school children; and carried out programmes that served as an introduction to financial literacy.

In addition, the Bank’s ongoing projects supporting primary and secondary education, coupled with investment in community development through BoC Gammana, directly contributes to Target 4.a – by supporting the upgrade of education facilities to provide safer, more inclusive, effective learning environments for students.


staff training programmes conducted via e-Learning, TV BoC and MsTeams


total training programmes conducted during the year

SDG 5: Gender equality

Target 5.5Target 5.a

The Bank is committed to improving gender equality by creating opportunities for women, within the Bank and in wider society. Internally, the Bank’s efforts contribute to Target 5.5 – by improving female representation and in leadership at all levels within the Bank. In 2022, 62% of new recruits were female, and women make up 51% of the Bank’s total workforce. The Bank carries out activities focusing the female staff by "Seva Vanitha Society".

Additionally, a focus on empowering women and women-led businesses is part of the Bank’s lending efforts, which contributes to Target 5.a - by improving women’s access to economic resources and financial services. During the year 2022, the Bank provided LKR 1.7 billion to female entrepreneurs and women-owned or women-headed businesses through microfinancing. Further LKR 2.6 billion in development lending was disbursed to women-led businesses, with particular focus on SMEs across a variety of sectors.

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staff availed maternity leave during the year


promotions for female staff during the year

SDG 6: Clean water and sanitation

Target 6.1Target 6.2Target 6.6

BoC’s funding of major infrastructure development in the water supply and irrigation sector, coupled with lending to the State water supply and sanitation agencies, directly contributes to Target 6.1 – by supporting the achievement of universal and equitable access to safe and affordable drinking water. Lending to the state water supply and sanitation sector in 2022, amounted to LKR 362.5 million.

The Bank’s community upliftment efforts including development of model villages through BoC Gammana also contributes to Target 6.2 – by upgrading rural sanitation and hygiene infrastructure and improving access for communities. Further, the Bank’s environmental conservation efforts, including reforestation and conservation of a section of the Hurulu Forest Reserve as part of the BoC Haritha Arana project, contributes to Target 6.6 – by protecting and restoring Sri Lanka’s precious water-related ecosystems.

SDG 7: Affordable and clean energy

Target 7.2Target 7.a

As part of Bank of Ceylon’s sustainable financing initiative, the Bank engages in green financing, including taking part in refinancing initiatives as a participatory financial institution. These efforts directly align with Target 7.a and Indicator 7.a.1 – by tapping into international financial flows and improving access to clean technologies, renewable energy, and energy efficiency across the industrial and residential sectors. As part of green financing efforts, the Bank extended LKR 711.6 million in new facilities for green technologies.

The Bank also upholds its long-term commitment to reducing the environmental footprint of operations by adopting solar energy among branches and enhancing Bank’s utilisation of renewable energy. These actions are in line with Target 7.2 and Indicator 7.2.1 to increase the share of renewable energy in energy consumption.

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3,219.3 Mwh

electricity supplied to the National Grid

LKR 14.0 million

funds disbursed to purchase solar power system, electric bicycle and installation of Bio Gas plants


solar powered branches

SDG 8: Decent work and economic growth

Target 8.5Target 8.7Target 8.8Target 8.10

A commitment to Sri Lanka’s macroeconomic stability while supporting national development, coupled with Bank of Ceylon’s ethos of responsible banking and procurement and an ongoing commitment to employees result in many of the Bank’s actions aligning with SDG 8.

Contributing to Target 8.5 - the Bank employs approximately 8,209 employees, invests in creating a conducive work environment and ensuring employee engagement, and ensures fair treatment and remuneration. All these contribute to ensuring full and productive employment and decent work for fair pay.

In alignment with Target 8.8, the Bank ensures a safe and secure working environment by investing in the health and safety of its employees, through medical reimbursement and assistance, routine awareness and trainings, and other concerted support. Further, with 100% of the Bank’s employees included in collective bargaining agreements, the Bank upholds labour rights and ensures compliance with freedom of association and collective bargaining as per Target 8.8 and Indicator 8.8.2.

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Aligning with Target 8.7 – the Bank’s responsible practices extend to its supply chain through vetting, assessment, and spot-auditing of suppliers to eliminate risk of child labour, and forced or compulsory labour.


jobs created during the year


business revived during the year

LKR 29.0 billion

disbursed as salaries and pensions during the year

Being a Domestic Systemically Important Bank (D-SIB), Bank of Ceylon’s wide reach, extensive network of customer touch points, efforts to promote a savings culture, and actions to promote financial literacy; all directly contribute to Target 8.10 and Indicators 8.10.1 and 8.10.2 - by expanding accessibility to financial services and increasing the proportion of the population utilising banking services.

SDG 9: Industry innovation and infrastructure

Target 9.1Target 9.3

The Bank’s project financing directs funds towards large-scale infrastructure development projects. In line with Target 9.1 – these projects help develop quality, reliable, sustainable and resilient infrastructure.

The Bank’s development lending and concessionary loans, coupled with efforts of the SME Circle and Export Circle, contributes directly to Target 9.3 – by increasing access to financial services for SMEs and other small-scale industrial enterprises, providing access to affordable credit, and promoting integration into value-chains and enhancing market access.

LKR 1.8 billion

investment on IT systems and software

SDG 10: Reduced inequalities

Target 10.2Target 10.3Target 10.bTarget 10.c

The Bank has systematised and incorporated stringent processes that work to ensure equal opportunity while reducing inequality across the Bank’s operations and extended to its supply chain.

In line with Target 10.2 - the Bank’s wide network promotes economic inclusion of communities irrespective of sex, ethnicity, religion, financial status, or other factors. With regard to BoC employees, the Bank promotes appropriate internal policies, actions, and processes to ensure equality of opportunity and outcome, in line with Target 10.3.

The Bank’s development lending and role as a Participatory Financial Institution, especially with regard to credit lines from multilateral and bilateral funders, contributes to achieving Target 10.b – by supporting official development assistance and financial flows.

The Bank’s continuing efforts to prioritise and promote inward remittance also support Target 10.c – by incentivising and improving ease and security of migrant remittances, while minimising transaction time and cost.

LKR 52.6 billion

in development lending during the year


customer touch points in economical deprived areas (North, East, and Uva provinces)

SDG 11: Sustainable cities and communities

Target 11.1Target 11.2Target 11.4

Lending for residential housing is a significant component of the Bank’s loan portfolio, and several schemes are provided at concessionary interest rates, thereby improving access to adequate and affordable housing for thousands of Sri Lankans. This is in line with Target 11.1. The Bank’s housing loan portfolio amounted to LKR 78.2 billion as of end 2022.

The Bank’s lending to the transport sector and for transport infrastructure development contributes to Target 11.2 – by improving access to safe, affordable and accessible transport systems, including public transport. BoC’s lending to the transport and logistic sector as of end 2022 amounted to LKR 95.8 billion.


public transport providers supported with leasing facilities r

LKR 10.0 million

in loans for electric vehicles and/or bicycles during the year

Further, Bank of Ceylon has provided long-standing support to Sri Lanka’s cultural development including safeguarding of natural heritage, in line with Target 11.4. During the year, the Bank supported key institutions and associations tasked with religious and cultural development.


branches in progress in installing solar


branches in progress constructing as per Green Building Council of Sri Lanka (GBCSL) standards


branches completed as per the green building concept

SDG 12: Responsible consumption and production

Target 12.2Target 12.5Target 12.6Target 12.7

The Bank’s efforts to scale up digitalisation and process automation, coupled with a commitment to reducing the environmental footprint of operations, ensures that Bank of Ceylon incorporates responsible consumption and production in its operations.

In line with Target 12.2, the Bank works to reduce material consumption and achieve sustainable and efficient use of natural resources. In 2022, the Bank saved LKR 56.7 million worth of paper and toner through process automation. In line with Target 12.5, the Bank works to reduce waste generation and promote recycling. 21.9 MT of paper was recycled in 2022.

Bank of Ceylon’s sustainability framework in place, and the Bank’s incorporation of ESG information in corporate reporting are in line with Target 12.6. Further, the Bank’s upholding of responsible public procurement practices and efforts to drive responsible practices throughout its supply chain are in alignment with Target 12.7.

SDG 13: Climate action

Target 13.2Target 13.3

The Bank conducts a comprehensive assessment of its carbon footprint and is driving concerted efforts to improve institutional capacity and awareness in order to better recognise, assess, and respond to risks brought on by climate change. This is in line with Target 13.2 and Target 13.3.


fully grown trees saved during the year 2022 through paper recycling

SDG 15: Life on land

Target 15.1Target 15.2

The Bank’s environmental initiatives such as the Haritha Arana project contribute to conservation and restoration of a vital freshwater ecosystem, while supporting reforestation and sustainable management. This is in line with Target 15.1 and 15.2. In 2022, the Bank invested LKR 3.3 million for the Haritha Arana project.

SDG 16: Peace, justice, and strong institutions

Target 16.5Target 16.10Target 16.b

The Bank upholds the highest level of transparency, accountability, and integrity in all its transactions. The Bank’s strong policy framework includes policies for anti-corruption and anti-money-laundering (AML), these are in line with Target 16.5. As a state institution, the Bank adheres to the Right to Information (RTI) act, in ensuring public access to information – in line with Target 16.10.

Further, the Bank’s internal processes and policies to prevent discrimination, contribute to achieving Target 16.b within an institutional setting.

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2022 2021 2020 2019 2018
Number of whistle blowing correspondence received 34 40 39 99 101

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whistleblowing cases reported


customer complaints addressed during the year


working days complaint response time

SDG 17: Partnerships for the goals

Target 17.3Target 17.17

The Bank leverages and promotes partnerships across its ecosystem to drive shared value creation, in line with Target 17.17. The Bank’s role as a Participatory Financial Institution also contributes to Target 17.3, in serving as a conduit for multilateral and bilateral funding streams.

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Membership payments made to 9 institutes