With the heritage that explicitly showcase the commitment to the Nation, Bank of Ceylon is considered to be among the topmost important contributors towards the economic and social development of the country.
The saga of Bank of Ceylon begins in early 1900s when lack of finance deprived many Ceylonese businesses to make use of the opportunities that were available at that time. It was then that the Member of the State Council of Ceylon for Kandy, Hon. George E. De. Silva moved a motion to look into the situation with regard to the ordinary Ceylonese who were deprived of financial assistance to get involved with businesses unlike a few elite Ceylonese businessmen and foreigners, that led the Governor of Ceylon to appoint a commission to look into this situation.
Finally the Bank of Ceylon Ordinance was enacted in 1939 and the Bank was declared open on August 1st, 1939 at 41, Bristol Street in Colombo Fort, by the Governor, Sir Andrew Caldecott. Since then, for eight decades the country’s banking giant has delivered an unparalleled service to Sri Lankans at all levels and an unmatched contribution to the economy.
Bank of Ceylon grew rapidly, opening branches in every major city within a decade, followed by a branch in London. By the mid-1950s it was a force to be reckoned with and with the passing of each decade, it has continued to grow in both size and influence, subsequently becoming a tool for effecting economic growth on an even broader scale. However, growth to this size, the complete range of products and services it offers and the role it plays should not come as a surprise. That is because the origins of Bank of Ceylon are steeped in history. Its formation is an important event in the history of commerce and of the Sri Lankan economy.
Leveraging on the strength gathered over eight decades, Bank of Ceylon has continued to dominate the Sri Lankan banking landscape at many different levels.
Read BMD September 2019 for more details…