Bank of Ceylon

Last updated

Bank of Ceylon
Type Government-owned corporation
IndustryBanking, financial services
Founded1936;85 years ago (1936)
Founder Sir Ernest de Silva
HeadquartersBOC Square, Bank of Ceylon Mawatha, Colombo, Sri Lanka
Number of locations
Increase2.svg 582 (2020) [1]
Area served
Sri Lanka
Maldives
India
United Kingdom
Seychelles
Key people
Kanchana Ratwatte (Chairman) [1]
Lalith Withana (Executive Director) [1]
Services Retail banking, corporate banking, investment banking
RevenueIncrease2.svg Rs 252.756 billion (2020) [1]
Decrease2.svg Rs 22.246 billion (2020) [1]
Decrease2.svg Rs 16.307 billion (2020) [1]
Total assets Increase2.svg Rs 2.982 trillion (2020) [1]
Total equity Increase2.svg Rs 156.659 billion (2020) [1]
Number of employees
Decrease2.svg 8,479 (2020) [1]
Parent Ministry of Finance
Subsidiaries Ceybank Asset

Bank of Ceylon (UK) Limited (100%)
Property Development PLC (96%)
Hotels Colombo
Transnational Lanka Records Merchant Bank of Sri Lanka & Finance PLC (75%)
Ceybank Asset Management Limited (43%)
Southern Development Financial Company (42%)
Transnational Lanka Records Solutions (25%)

Lanka Securities

Contents

(20%)
Website boc.lk

Bank of Ceylon (BOC; Sinhala: ලංකා බැංකුව Lanka Bænkuwa|Tamil: இலங்கை வங்கி Ilangai Vangi) is a state-owned, major commercial bank in Sri Lanka. Its head office is located in an iconic cylindrical building in Colombo.

The bank has a network of 628 branches, 689 automated teller machines (ATMs), 123 CDM network, and 15 regional loan centres within the country. It also has an around-the-clock call centre and an around the clock branch at its Colombo office.

In addition to the local presence, the bank maintains an off-shore banking unit in the head office in Colombo, three branches in Malé, Chennai, and Seychelles, and a subsidiary in London.

History

Bank of Ceylon (BOC) was founded in 1939, with Sir Ernest de Silva as its first chairman. At the time, Ceylon was a British colony and the then governor Sir Andrew Caldecott ceremoniously opened the bank on 1 August. The British government introduced the banking arm for its government-oriented businesses. Two years later, in 1941, BoC started to expand beyond the city of Colombo. It opened its first branch in Kandy. Subsequently, BOC added branches in major cities such as Galle, Jaffna, Kurunegala, Batticaloa, Trincomalee, Badulla, and Panadura.

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References

  1. 1 2 3 4 5 6 7 8 9 "BOC 2020 Annual Report". Colombo Stock Exchange. pp. 8, 378, 383. Retrieved 24 March 2021.
  2. "BTMU signs a MoU with Bank of Ceylon".