Editorial

Commercial Bank of Ceylon recognised for its strong links with supplier banks as it wins Best Trade Finance Bank in Sri Lanka at The Asian Banker Transaction Awards 2019

By The Asian Banker

  • Structured pricing strategies beneficial for high trade revenue growth
  • Mandates implemented reflect bank’s ability to canvass deals from competitor banks
  • The launch of a multi-function hybrid card benefits dealers across the ecosystem

Bangkok, May 30th, 2019 — Commercial Bank of Ceylon received the award for Best Trade Finance Bank in Sri Lanka at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.



In the picture: Mathew Welch and Bill Chua, International Resource Directors and Siddharth Chandani; Researcher; The Asian Banker with Anthony Naveendra Perera Sooriyarachchi; Deputy General Manager’ Corporate Banking; Commercial Bank of Ceylon

Customised trade pricing strategies to suit different client types

Commercial Bank of Ceylon offered customised structured pricing strategies to suit different groups of clients. For financial institutions, it based the pricing strategy on international and domestics rankings published in terms of financial ratios and performance. For corporates and SMEs, the pricing strategy is based on the Primary Lending and LIBOR rate with a margin or fixed rate, subjective to the risk profile and the business volumes routed through the bank. Pricing segmentation achieved at client level aided the bank in providing competitive trade services and grow its the overall market share increased by 4.2% in the period under review. Revenue from trade business grew by 18% while gross margin for trade business strengthened to 10.4% in absolute terms.

Mandates implemented reflect bank’s ability to canvass deals from competitor banks

The bank implemented several high-profile mandates, such as the one for a high end-provider of automobile and motor spare parts and a leading industrial solid rubber tyre manufacturing company. The mandates won reflect its ability to canvass business from competitor banks. The bank leveraged its strong relationship with the supplier’s banks, logistical operators & expertise in handling entrepot trade business to facilitate the supply of 120 brand new units of automobiles and spare parts from different locations to the Government of Papua New Guinea (PNG) to be used for APEC summit.

The launch of a multi-function hybrid card benefits dealers across the ecosystem

The bank’s partnership with a large cement company to launch a multi-function hybrid card to provide dealers with promotions, paved way for the bank to establish more than 4500 new relationships and 5000 dealer accounts, helping the bank achieve a significant trade market share. The commercial bank’s debit card holders (largely dealers) can redeem loyalty points by purchase of the cement company’s products and solutions.

The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.

About The Asian Banker

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.

To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com



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