Brand Finance, the world's leading independent brand rating agency, has named Commercial Bank of Sri Lanka as the 'Strongest Banking Brand' in Sri Lanka for the second consecutive year, 2022, in selecting the most valuable and strongest brands in Sri Lanka.
Commercial Bank's brand value-based rating has been upgraded to become Sri Lanka's third-largest brand in all brands, with the latest rating released by Brand Finance in April 2022.
Brand Finance has estimated Commercial Bank's brand value at Rupees 46.7 billion, an increase of Rupees 3 billion or 7% over 2021. This reveals that the value of the Commercial Bank brand grew the fastest in a year when brand value in the overall banking sector grew by 3%.
In terms of brand strength, Grind Finance has given Commercial Bank a brand rating of 86.7 on the Brand Strength Index (BSI) and the highest rating AAA brand rating given to the leading brands this year. In the summary of results, Grind Finance noted that stronger brands have the potential to build greater value in the future. Commenting on this, Commercial Bank Managing Director and Group CEO S.S. Mr. Renganathan said.
“This is an extremely challenging time for businesses.
In such an environment, brands thrive when they practically meet the expectations of consumers. The Commercial Bank of Ceylon has always had the strength to do this. All members are committed to building our brand value. "
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