Ministry of Finance data confirms Bank’s dominant contribution to national SME credit in 2024, accounting for more than 30% of total loan value

The Commercial Bank of Ceylon has once again emerged as the country’s largest lender to small and medium enterprises (SMEs), retaining its position for the fifth consecutive year, according to the Ministry of Finance’s Final Budget Position Report for 2024.

The report shows that Commercial Bank disbursed Rs. 330.9 billion in SME loans in 2024, representing 30.3% of the Rs. 1,090 billion provided by 16 state and private sector banks. This places the Bank significantly ahead of all other institutions, leading the industry with SME lending that is 91% higher than that of the nearest competitor.

The Bank’s support extended across Agriculture, Services, Industries and Other sectors, with its most substantial contribution directed to Industries. Commercial Bank lent Rs. 266.8 billion to this sector alone, accounting for 47.8% of the Rs. 557.6 billion in total loans received by Sri Lanka’s industrial enterprises in 2024.

This performance underscores Commercial Bank’s sustained and strategic engagement to power the SME sector, a critical driver of employment, value creation and economic stability.

Commenting on the Bank’s continuing leadership in this sphere, Mr Sanath Manatunge, Managing Director/CEO of Commercial Bank said: “Our commitment to SMEs is rooted in the belief that their success is inseparable from the country’s economic future. In 2024, the Bank’s SME-focused initiatives positively impacted over 8,700 businesses, driving job creation, community development and economic inclusion. And as the country responds to the impact of the cyclone, Commercial Bank will continue to stand with SMEs, supporting their recovery and helping Sri Lanka rebuild.”

“The Ministry of Finance’s confirmation that we remain the largest lender to SMEs for the fifth consecutive year is a direct result of this purpose-driven approach. We will continue to expand access to finance, deploy technology that accelerates SME growth, and provide the guidance and support needed for businesses to withstand challenges and scale sustainably.”

Over the years, Commercial Bank has maintained a robust approach to SME development through targeted lending, capacity building, advisory support, and digital enablement. This approach creates additional value for enterprises by strengthening business capabilities and supporting long-term sustainability, complemented by early engagement mechanisms through the Bank’s dedicated Business Revival and Rehabilitation Unit, established to support enterprises showing signs of distress. In addition, ComBank LEAP | GlobalLinker further strengthens SME growth by connecting businesses to new markets, partnerships, practical knowledge resources, and a wider ecosystem that supports scale and competitiveness.

Commercial Bank’s ongoing investment in SME transformation has been further strengthened by the rollout of Sri Lanka’s first Artificial Intelligence-powered SME Credit Underwriting Solution. This new system uses advanced machine learning and predictive analytics to assess SME credit requirements and identify opportunities based on behavioural and financial data. With this scalable AI infrastructure in place, the Bank is positioned to respond faster and more accurately to emerging SME needs, widening access to finance and reinforcing the sustainability of the sector.

Commercial Bank’s leadership in SME lending aligns with a long-term institutional strategy focused on promoting enterprise resilience, supporting domestic production, encouraging innovation, and empowering women-led and export-oriented businesses. The Bank continues to strengthen value chains, create market access opportunities, promote digital adoption and deliver development interventions through initiatives such as Viyapara Diriya capacity-building programmes.

Through consistent policy alignment, proactive innovation and a strong field presence, Commercial Bank said it has once again demonstrated its role as the country’s foremost catalyst for SME growth, reinforcing its contribution to national economic progress.

The first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn., Commercial Bank was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest Tier I capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka, is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.

Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.