‘Priority Banking is a strategy to build a sustainable core deposit base’
Commercial Bank of Ceylon, a Sri Lanka-based private commercial bank operating in Bangladesh, has introduced priority banking as part of its strategy to build a sustainable core deposit base.
In an interview with The Business Standard, Sanath Manatunge, Global Managing Director of Commercial Bank of Ceylon PLC, explained how priority banking will support the bank's business growth. With a distinguished career spanning more than 35 years at the bank, Manatunge has played a key role in transforming it into a digitally driven regional powerhouse. Before assuming the role of MD/CEO, he served as Chief Operating Officer, Deputy General Manager for Corporate Banking, and Chief Risk Officer. In these roles, he was instrumental in developing the bank's industry-leading asset quality and risk management frameworks.
After two decades of successful operations in Bangladesh, what prompted the move into the Priority Banking segment now?
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Bangladesh is no longer just a resilient economy; it is a high-growth engine, supported by strong exports and a burgeoning affluent class. We have been a trusted partner here for over 20 years. As the market matures, we are seeing a shift from transactional banking to relationship-driven engagement.
Our move into Priority Banking is a natural evolution, bringing our two decades of leadership in Sri Lanka to meet the increasingly sophisticated demands of Bangladeshi clients, who now seek bespoke advice over traditional products.
In a competitive landscape, what makes the CBC Priority Banking proposition "differentiated"?
It is a blend of global standards and deep local empathy. We are not just offering a product; we are offering an integrated ecosystem. This includes the debut of Visa Signature debit and Visa Infinite credit cards – a first for a foreign bank in this market – and seamless cross-border capabilities for non-resident Bangladeshis. Our differentiator is our people; we deploy seasoned relationship managers supported by digital capabilities to ensure that "Priority" isn't just a label, but a faster and preferential experience.
The banking sector globally is facing headwinds. How does CBC maintain its reputation for stability while expanding its footprint?
Stability is in our DNA. In Bangladesh, we have maintained top-tier credit ratings for over 15 years and boast one of the lowest NPL ratios in the industry. This disciplined approach allows us to focus on building long-term"share of wallet" rather than chasing volatile, short-term gains. For us, Priority Banking is a strategy to build a sustainable core deposit base that strengthens our balance sheet resilience.
Bangladesh is currently navigating a complex economic climate. How can Priority Banking help business owners and HNWIs during such times?
Challenging times require strategic innovation. For business owners and high-net-worth individuals, the current environment – marked by FX volatility and inflation – demands more than just a savings account. We provide structured solutions, including trade advisory, working capital optimisation, and hedging strategies. We view ourselves as partners, helping clients capture future opportunities while navigating present challenges.
