LEADING BRANDS PROFILE | LMD

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Q: How has your financial institution’s model advanced since inception?
A: BOC or Financial institution of Ceylon is a tower of energy to the nation – constructed over 83 years whereas empowering the Sri Lankan neighborhood to fulfil its socioeconomic potential, intuitively adopting the trail of a trailblazer.

As a number one industrial financial institution, BOC units benchmarks for the native banking sector, and has opened a world of alternatives for each particular person and enterprise entity alike to raise their dwelling requirements in each side of life.

When one considers the standard beginnings of the financial institution, it has strategically integrated progressive know-how and novel banking ideas, offering world-class banking at a fraction of the associated fee.

At this time, BOC operates 646 branches, a community of over 1,400 ATM/ CDM/CRMs regionally, and maintains abroad branches in Chennai, Male, Hulhumalé and Seychelles, and a fully-fledged banking subsidiary in London. Its networking capability has expanded to over 1,000 overseas correspondent banking and worldwide change homes throughout the globe.

BOC at the moment leads with the very best quantity of overseas inward remittances streaming via a banking channel; it additionally leads within the PFC market.

Q: And the way necessary is repute and integrity for a model?
A: BOC strongly believes that integrity is an crucial worth to stay by. With the ability to thrive because the No. 1 banking model within the nation, sustaining development and worth creation, BOC has turn out to be an icon in Sri Lanka’s banking sector for its resilience and energy.

The success of BOC was constructed over years of investments in constructing its repute via the very best requirements of integrity and belief.

Q: What do you consider is the impression of branding on sustainability and development of the model?
A: BOC considers branding to be greater than merely promoting and advertising and marketing; it requires understanding ‘the aim’ of the model and worth it generates to stakeholders.

In consequence, BOC boasts of a stability sheet that exceeds Rs. 1 trillion with its asset base exceeding 3.8 trillion rupees, a deposit base of Rs. 2.9 trillion, and loans and advances standing at 2.6 trillion rupees at 31 December 2021.

The financial institution leads in digital transformation because it types the most important interconnected banking community within the nation with over 2,000 buyer contact factors and complex on-line banking channels. BOC can be reached via all standard social media platforms that talk and have interaction with prospects 24/7.

BOC’s efforts to construct a digitally inclusive banking sector has been recognised as the general winner on the Technovation Awards 2022 – organised by LankaPay – with 4 Gold awards and one Benefit award.

The financial institution all the time makes cautious monetary and non-financial investments in the direction of the sustainable development of the model – i.e. via each side of name constructing, encouraging a studying tradition for human useful resource improvement and operational actions.

BOC was adjudged the Greatest Service Supplier of the 12 months and Greatest Banking Service Supplier of the 12 months on the SLIM Kantar Peoples Awards 2022. This was the fourth time it acquired Greatest Banking Service Supplier of the 12 months award on the annual awards ceremony.

Q: What position can model investments play in accelerating enterprise restoration?
A: BOC considers model constructing to be a strategic funding; nonetheless, earlier than making any strategic investments, the financial institution strongly believes in sustaining a powerful core – a price construction that identifies the scope of enterprise, worth it intends to generate for stakeholders and mechanism it operates.

BOC prolonged its model via BOC SME Circle, BOC Export Circle and the BOC Enterprise Revival and Rehabilitation unit, which mixes banking merchandise with worth added companies that not solely present monetary help but in addition enterprise intelligence, and assist construct enterprise networks with associated authorities and exterior stakeholders.

The model additionally integrated digital know-how to take banking to distant areas by investing in digital companies equivalent to BOC Agent Banking.

Furthermore, the financial institution has aligned its long-term sustainability and objectives with the United Nations Sustainable Growth Objectives (SDGs); and it continues to be a accountable company citizen via social empowerment, inexperienced banking and focussing on financial improvement.

Model BOC has been recognised because the No. 1 banking model within the nation for the final 13 consecutive years; and it’s the solely banking model to surpass a model worth of Rs. 50 billion in Sri Lanka.

It was awarded the coveted title Financial institution of the 12 months 2021 – Sri Lanka and ranked among the many Prime 1000 Banks within the World by The Banker Journal UK.