‘’Fitch upgrades ComBank to ‘AA(lka),’ reaffirming its position as Sri Lanka’s highest-rated private bank’’
Fitch Ratings has upgraded Commercial Bank of Ceylon PLC’s National Long-Term Rating to ‘AA(lka)’ from ‘AA-(lka),’ effective 30th October 2026, reinforcing the Bank’s position as Sri Lanka’s benchmark private-sector lender and highlighting its enduring financial strength. The upgrade follows Fitch’s recalibration of Sri Lanka’s national rating low credit scale after the sovereign rating upgrade…
Commercial Bank of Ceylon PLC has seen its credit rating upgraded to 'AA(lka)' by Fitch Ratings, with the rating firm reaffirming its position as Sri Lanka's highest-rated private bank. This upgrade, effective from October 30th, 2026, highlights the bank's enduring financial strength and positions it as a top choice for investors, depositors, corporate clients, and international banking partners in the country.
The rating reflects the bank's strong capital adequacy, liquidity, and asset quality, as well as its optimized cost of funds compared to other large private-sector banks.
Commercial Bank Chairman Sharhan Muhseen expressed his satisfaction, stating that the upgrade provides an additional signal of the bank's stability and financial strength for customers. The bank's CEO, Sanath Manatunge, emphasized that this rating upgrade is a testament to the bank's resilience, disciplined risk management, and enduring strength, validating the confidence placed in the bank by customers, investors, and international partners.
This upgrade not only strengthens the bank's position in the domestic banking sector but also enhances its international correspondent banking relationships, benefiting customers engaged in international trade through efficient cross-border services and capital repatriation.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
