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Rating Confirmed

Aug 09, 2013(LBO) – RAM Rating has confirmed Commercial bank’s rating at AA+ with a stable outlook.

Media contact Nilusha Fonseka (9411) 2553089

The ratings are based on the Bank’s strong market position in the island as the largest privately-owned licensed commercial bank and third-largest overall," the rating agency said in a statement.

The ratings also reflect the banks strong franchise and healthy financial performance, funding and liquidity, as well as good capitalisation levels.

Ram said overall Commercial bank’s asset quality is viewed as above average owing to a better loan portfolio risk profile than that of its peers, a conservative lending strategy and prudent provisioning policy.

The Group focuses mainly on financing corporates and top-tier small- and medium-sized enterprises achieving loan growth of 18.01 percent year-on-year in fiscal 2012.

Full statement is attached below

Media Release

RAM Ratings Lanka reaffirms Commercial Bank of Ceylon PLC’s ratings at AA+/P1 RAM Ratings Lanka has reaffirmed Comm

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