Milestone Machine

(From left) Dharmasri Kumaratunga, Director - Payments and Settlements, Central Bank; Nanda Fernando, Managing Director, Sampath Bank; and Tharaka Ranwala, Head of Operations and Group Chief Marketing Officer, Sampath Bank

Jan 02, 2012 (LBO) – Sri Lanka’s Commercial Bank has connected its 500th automated teller machine as it rapidly expands its network, adding 100 terminals in the past five months or at a rate of 20 a month on average. The newest ATM was opened at Maradana Railway Station in Colombo, under a bank project to install cash dispensing machines at railway stations for greater convenience.

“The ATM network of the Commercial Bank of Ceylon has connected its milestone 500th terminal, further consolidating its status as the largest electronic cash dispensing system owned by a single bank in Sri Lanka,” a statement said.

On average, the bank’s ATM network dispenses about 600 million rupees daily, which the statement said was the highest volume by a cash dispensing facility in Sri Lanka, and processes on average 140,000 transactions a day.

Located in every district of the country, especially in the vicinity of major cities, Commercial Bank teller machines are installed at 213 branches of the bank as well as at 100 conveniently accessible off-site locations.

In addition to cash withdrawals, the bank’s ATM machines enable settlement of water, electricity bills and phone bills and Commercial Bank credit card p