Commercial Bank launches ‘ComBank Shakthi’ to extend reach to customers

The Commercial Bank of Ceylon has taken another decisive step in its customer convenience journey with the launch of its Agency Banking operations, branded ‘ComBank Shakthi.’ 

This strategic initiative is designed to bring greater customer convenience and care to communities living far from towns, enhancing access to formal banking services across Sri Lanka. 

In a banking landscape where accessibility and customer convenience are increasingly important, the Bank said its move into ComBank Shakthi represents a proactive response to customer needs in distant areas. The model allows the Bank to partner with selected third-party agents, typically local businesses or individuals, who act as intermediaries between the Bank and its customers, delivering core financial services without the need to establish fully-fledged branches. 

Through these authorised agents, Commercial Bank customers will be able to perform essential transactions such as cash deposits, withdrawals, fund transfers, and bill payments at convenient and accessible locations, especially in rural and underserved areas. This facility provides significant convenience by reducing the time and cost customers spend traveling to the nearest branch to meet their financial needs. 

The introduction of ComBank Shakthi marks a new chapter in Commercial Bank’s growth and service delivery strategy, reinforcing its position as a customer-focused and inclusive financial institution that continues to evolve with the needs of communities across the nation. 

Commercial Bank said its ComBank Shakthi Agency Banking operations are closely integrated with the activities of its Agriculture and Micro Finance Units (AMFU), leveraging the trusted relationships and community connections already established in rural communities through AMFU staff. By combining these strengths, the Bank aims to deliver a reliable, technology-backed model that expands access to banking, supports local economies, and fosters sustainable growth. 

Explaining the strategic intent behind the initiative, the Bank said that ComBank Shakthi supports its goal of bringing banking services closer to all Sri Lankans while maintaining operational efficiency and competitiveness in a market. The model also complements the Bank’s sustainability agenda by promoting equitable access to financial services and empowering communities to save, invest, and grow 

Marking this milestone, Commercial Bank launched the pilot phase of its ComBank Shakthi Agency Banking operations at Iresha Food City in Weerawila, demonstrating the model in action. The event was graced by Mr. S. Prabagar, Chief Operating Officer of Commercial Bank. He was joined by Mr. S. Ganeshan, Deputy General Manager – Personal Banking, Mrs. Mithila Shamini, Assistant General Manager – PBI/SME, Mrs. Ashani Senaratne, Assistant General Manager – Marketing, Mr. Ruwan Panditharathna, Regional Manager, Mr Malika de Silva, Senior Manager Development Credit Department, and Mr. Amila Rathnayake, Tissamaharama Branch Manager. Their presence underscored the Bank’s strong commitment to expanding inclusive banking channels and collaborating with partners to reach new communities.

The first Sri Lankan bank with a market capitalisation exceeding US$ 1 billion, Commercial Bank was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.

Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.