Language Switcher

v2025 (2)


BOC strengthens its position as bankers to the nation

The Bank of Ceylon (BOC) continues establishing effective ecosystems and partnerships with international banks improving its risk management, BOC Chairman Kanchana Ratwatte said in Colombo on Thursday (07).

The BOC maintains asset quality, capital adequacy and profitability as well as a working relationship with foreign banks in the current difficult local and international operating environment, he told a media conference.

He noted that the bank’s international and local trade transactions are resilient with its sovereign status, full state ownership and high systemic importance.

Referring to ongoing import restrictions and the bank's facilities in local and international trade, he categorically stated that it is following the current regulations in its procedure of opening Letters of Credit for importations in close relations with foreign banks.

Referring to certain reports on the rejection of the bank’s LC’s by foreign banks, he noted that no such refusal had been made by any such bank up to now as BOC has a strong sovereign credit profile.

It has recorded the highest asset base of LKR 2.9 trillion, highest deposit base of LKR 2.3 trillion and has maintained its market leadership in trade finance, treasury operations including its’ more than 40% market share of inward remittances.

The recent downgrade of the sovereign and banking institutions in Sri Lanka had a minimal impact on the soundness of the bank and its international operations continue uninterrupted, he added.

Being a bank that has maintained its international presence for over eight decades, its foreign correspondent relationships have never been questioned and have been growing from strength to strength, he reiterated.

Leave your comments

Post comment as a guest

Your comments are subjected to administrator's moderation.
terms and condition.
  • No comments found