The Commercial Bank of Ceylon has been ranked the best for service excellence among Sri Lanka’s banks in the 2024 edition of the annual Customer Excellence Survey of LMD, the country’s pioneering business magazine.
This is the second consecutive year that Commercial Bank topped the banking sector for service excellence in the LMD survey.
Conducted online, the survey received 4,100 responses this year. Respondents were asked to vote for their preferred establishment for service excellence in 34 categories of service organisations.
The results were published in the December edition of LMD, with up to 20 organisations in each category ranked according to the number of votes they received.
“This is a great way to end the year,” Commercial Bank’s Chief Operating Officer Mr S. Prabagar commented. “Customer service is paramount in banking, and includes a bank’s ability to provide tailor-made solutions that address an individual client’s specific requirements. This is one of our strengths, and continues to be an area of focus, despite the increasing emphasis on digital access to services.”
Customer excellence is embedded as a core element of Commercial Bank’s business strategy. The Bank actively integrates customer feedback to continuously improve services and products, and also uses data analytics to anticipate customer needs to be able to proactively offer hyper-personalised financial solutions, Mr Prabagar said.
Introducing the 2024 survey, LMD said: “In today’s competitive landscape where choices are plenty and customer loyalty is a precious asset, knowing what makes a customer tick is more important than ever,” and stressed that understanding customer expectations has become essential for businesses that are aiming to thrive.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalization in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest lender to Sri Lanka’s SME sector, is a leader in digital innovation and is Sri Lanka’s first 100% carbon neutral bank. Commercial Bank operates a strategically located network of branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 outlets in Bangladesh, a Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. The Bank’s fully- owned subsidiary CBC Finance Ltd. also delivers a wide range of financial services via its own branch network.
