(COLOMBO, LANKAPUVATH) –Commercial Bank of Ceylon PLC (Commercial Bank) rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) today to celebrate its 100-year anniversary. The event was a part of a series of initiatives conducted by the bank to celebrate this significant milestone.
Special market opening ceremonies are organized by the CSE as a platform for listed companies to celebrate corporate milestones and as a call to action for causes and developments that are significant to our business community, economy and society at large.
Chairman Mr. Dharma Dheerasinghe, Deputy Chairman Mr. Preethi Jayawardena, Managing Director Mr. S. Renganathan, Chief Operating OfficerMr. Sanath Manatunge and senior management of Commercial Bank were present at the event. The CSE was represented by Chairman Mr. Ray Abeywardena, Directors Mr. Dimuth Fernando and Mr. Dilshan Wirasekera, CEO Mr. Rajeeva Bandaranaike and the senior management of the Exchange.
Speaking at the event CSE CEO Mr. Rajeeva Bandaranaike congratulated the bank for celebrating its centenary year and commended the progress made by the Bank since its inception in 1920. He noted that the Bank has added to the value proposition of the stock market since listing in 1970 and has utilized the stock market effectivelyto fuel its growth agenda and to be amongst the top five listed companies in terms of market capitalization.
Mr. Bandaranaike also went onto say “Commercial Bank has continued to Support the Exchange, on initiatives to promote and present the Sri Lankan Capital Market amongst local and foreign investors which is very much appreciated, and I wish to take this opportunity to thank the leadership of the Organization for the support extended to CSE.”
Addressing the audience at the Event Chairman of Commercial Bank Mr. Dharma Dheerasinghesaid “The stock market is much more than a place for brokers to buy and sell shares of companies, which I believe is the common belief among the public and even within some in the business community. The Stock Exchange plays a far more pivotal role in allowing businesses access to capital and providing the opportunity for companies to enhance their visibility and public image.”
Mr. Dheerasinghewent onto say “Commercial Bank has benefitted from the capital raising tools such as debentures, IPOs and rights issues which has allowed us access to capital whilst maintaining a reasonable control in our operational areas.”