BOC – No. 1 Banking Brand: Exceeds Rs. 50 billion in brand value

Ruchi Gunawardene, Managing Director of the Brand Finance Lanka (L) presenting the certificate to Bank of Ceylon's chairman, President's Counsel, Ronald C. Perera (C) and CEO/General Manager, Senarath Bandara (R).

BOC, while becoming the first bank to exceed Rs. 50 billion in brand value, has retained its position as the No. 1 banking brand in the banking sector according to Brand Finance Lanka’s ‘The Brand Annual 2019’, published by Media Services (Private) Limited.

Figures further confirmed that the ‘brand’ has performed 21% brand value growth over the previous year with the highest growth the brand has ever recorded and now counts for an impressive Rs. 51.8 billion brand value.

Ruchi Gunawardene, Managing Director of the Brand Finance Lanka presented the certificate denoting the awarding of the prestigious ‘BrandFinance-Most Valuable Banking Brand title in 2019’ to Bank of Ceylon’s chairman, President’s Counsel, Ronald C. Perera and CEO/General Manager, Senarath Bandara at the Bank’s boardroom recently.

The Brand Finance Lanka, which was established in 2004 as a joint venture of Brand Finance, originated in London in 1996 as a leading independent brand valuation consulting agency in the world. It has been advising branded organizations on developing brand strategies and maximizing respective brand values through effective management since inception.

Brand Finance Lanka identifies Sri Lanka’s most valuable and strongest brands annually through a detailed analysis of data that is obtained from exclusive market research carried out by an independent research firm and publicly available financial information. These findings assist brands to make a clear assessment of their brand performance.

“The Bank of Ceylon has always looked towards long term strategies that bring genuine value added services to all our stakeholders, which has been the base of strengthening our brand. The brand was able to build trust and confidence among all stakeholders through its responsible business practices,” stated the Chairman, President’s Counsel, Ronald C. Perera.

“Bank of Ceylon, as the Sri Lankan Banking giant which owns a highest brand value of Rs. 51.8 billion which has evolved over eight decades emphasizing its place as the ‘Banker’s to the Nation’, has been able to relate to its customers by adopting its strategies to be more empathetic towards the needs of the Sri Lankan community. I am also thankful for the continued trust and loyalty that has been placed on the Bank by its valued customers, loyal staff members and all stakeholders which allows the Bank to drive successfully across the country,” added Mr. Ronald C. Perera.