Products • Current, Savings (Passbook and
Statement) and Fixed Deposit
Accounts • CAT Cards • Credit Cards • Debit Cards • ‘Arunalu’ and ‘Isuru’ Minors' Accounts • ‘DotCom’ and ‘DotCom Spin’ Teen
Saver Accounts • Power Savings Accounts • Certificates of Deposit • Salary Remittance Package • ‘Nivahana’ Housing Loans with
Fixed and Floating Rates • ‘Pahan’ Personal Loans with
top-up facility • ‘ComShakthi’ Leasing facility • ‘Diribala’ Development Loans • Holiday Banking Centres • Saturday Banking • Priority Banking • ComBank Online - Internet Banking • Telephone/SMS Banking • ‘Udara’ Senior Citizens’ Deposit Account • ‘FC Plus’ - Foreign Currency Savings
Account with high interest rates • Utility Bill payment service through
ATM/Internet • Bancassurance • Com-e-Load-mobile phones reload
facility • Mobile ATM • Com-Leap - Tiered Savings Accounts • Com SMS - Mobile Phone Banking
Facility • Pay Master - Total Payment solution
to Corporate Clientele
Core Competencies • ‘ComNet’ computer linked branch
and ATM network • State-of-the-art information technology • Branch net work spread out in
every part of the country • Wide portfolio of innovative products • Recognition as the Best Bank in
the country • Speedy decision-making due to
region-wise setup • A target oriented work culture • Speedy and friendly service • 24 hours 365 days service • Availability of Visa, Master Card,
Debit card and Travel card
Future Strategies • To develop low cost delivery channels • To adopt new customers relationship
and segmentation techniques • To expand cross selling • To develop new products for
untapped market segment • To increase market share in
deposits and advances • To venture into new business lines
such as wealth management,
MICRO financing and pawning • To use CSR activities to promote
the image as a ‘National Bank’ • To maintain superior customer
service standards • To maintain the technological
superiority • Reinforce the corporate image as
the ‘Best Bank’ in all aspects
Overview
Traditional bricks and mortar branches still play a dominant role in the Sri Lankan banking sector. Commercial Bank continued its branch expansion programme with the addition of 12 delivery points to their network. Now, the Bank provides services through delivery points spanning every part of the island. Further, the Bank installed 22 ATMs including off-site ATMs during the year making a total of 291 ATMs at the year end which is considered to be the largest single ATM network in the country. All delivery points and ATMs are interconnected in an on-line real time computer net work branded ‘ComNet’. The Commercial Bank is now firmly established as a true national bank in the country.
The Personal Banking Division is responsible for the successful operation of the extensive islandwide network of delivery channels which caters mainly to the banking needs of personal customers and small and medium enterprises. The 10 Regional Offices make an important contribution to the excellent performance of this Division by decentralising and expediting the process of decision-making relating to credit and operations of branches. The Card Centre which issues ‘CAT’ ATM cards and Credit & Debit cards under franchises from Master Card International and Visa comes under this division. The operations of the Holiday Banking Centres, the Saturday Banking and the Priority Banking Centre at the Reid Avenue branch too comes under this division.
Achievements - 2007 • The Personal Banking division recorded commendable growth rates of 17.92% and 29.57% deposits and advances respectively in spite of the inflationary conditions that prevailed in the country. • This Division channelled a considerable amount of low cost funds mobilised in excess of the lending requirements to the Corporate Banking Division and the Treasury for their lending and investment activities. • 7 branches were opened at Kalawana, Digana, Polgahawela, Boralesgamuwa, Hanwella, Pannala and Kirindiwela and also Supermarket Banking Counters were opened at Ragama, Matara, Panadura, Horana and Wattala.
Delivery points in the network comprised of 140 branches, 22 Supermarket Banking Counters and a Counter at the Bandaranaike International Airport. Bank considers this network, to be a great asset that provides immense potential and opportunities for future growth of the Bank • Number of Regional Offices expanded to 10 with a view to further rationalising the operations of the branch network and speeding up the decision-making process. • Kurunegala, Batticaloa and Maharagama branches commenced Saturday Banking while Matugama branch commenced Sunday Banking. • Substantial increase in the number of transactions through the ATMs, which dispense over
Rs. 225.0 million in over 88,000 transactions each day, bears ample testimony to the immense popularity of our ‘CAT’ ATM network. • The number of ‘CAT’/Debit cards issued during the year exceeded 260,000 leading to the total number of cards issued, to exceed 1,300,000. • Introduction of Instant Debit Cards. • Installed an ATM switch whereby the Bank issues ATM cards on behalf of certain other non-bank financial institutions. • Launched the ‘Pay Master’, a total payment solution for corporate clientele and extending the ‘Com e-load’ facility to Mobitel, the 2nd largest mobile service provider in the country.
