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Com Bank crosses Rs 10bn profit

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The Commercial Bank of Ceylon PLC has established yet another performance milestone, becoming the first private bank in Sri Lanka to surpass 10 billion rupees in net profit, following a solid all-round 2012 performance that the Bank dedicates primarily to its customers. In addition Total Assets of the Bank crossed the Rupees 500 billion milestone during the year to Rupees 510.75 billion, reflecting a growth of 15.79%. Commercial Bank is the first private bank in Sri Lanka to exceed Rupees 500 billion in assets.

Profit before tax for the 12 months ending 31st December 2012 grew 30.26 percent to Rupees 14.311 billion, while profit after tax at Rupees 10.072 billion reflected a growth of 25.15%, Sri Lanka’s largest private bank said in a filing with the Colombo Stock Exchange.

Commercial Bank Chairman Dinesh Weerakkody said the Bank’s financial results reflect the significant role it now plays in the lives of millions of people and the national economy, as well as its commitment to the concept of ‘Banking on You.”

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