ComBank crowned ‘ADB’s Leading Partner Bank in SL’ again

The Asian Development Bank (ADB) has honoured Commercial Bank of Ceylon as its ‘Leading Partner Bank’ in Sri Lanka for trade and finance transactions for the fourth consecutive year at the ADB’s 10th Trade and Supply Chain Finance Programme (TSCFP) Awards at Singapore.

The award recognises Commercial Bank’s achievement, with ADB assistance, of the highest number of transactions in Sri Lanka’s trade and supply chain finance domain between July 1, 2023 and 30th June 2024. Commercial Bank was one of 31 banks that were recognised with 36 prestigious accolades at the ADB TSCFP Awards ceremony.

“The ADB is one of our most valued partners, and we greatly appreciate its contribution to making Commercial Bank one of the biggest facilitators of trade in Sri Lanka,” the Bank’s Assistant General Manager – Corporate Banking B. A. H. S. Preena said. “The ADB provides us with the tools, techniques and instruments that protect both buyers and sellers from trade-related risks, thereby supporting businesses that transact with one another. This award underlines the success of our relationship in this sphere.”

Commercial Bank’s partnership with the ADB contributes to the growth of the Bank’s trade finance portfolio via increased credit lines, expanded relationships with correspondent banks, reduced cash collateral requirements, enhanced ability to maintain or attract new clients, critical support during times of crisis, low-risk access to new and challenging markets, expanded geographic coverage to service export clients.

Among the trade and supply chain finance related products and services offered by the Bank are documentary credit, issuing of letters of guarantee, providing expert advice on forward exchange contracts, document collection, providing shipping guarantees, marine insurance  and many more.

Commercial Bank has also launched ‘Combank Trade Club’ – an ecosystem to stimulate business growth for the Banks’ trade customers and ‘Combank LEAP GlobalLinker’ – a comprehensive digital business ecosystem set up in collaboration with the IFC and Global Linker to expand networking opportunities for trade customers.

The TSCFP programme works with over 200 international banks from more than 90 countries around the world.