Sri Lanka's best bank for CSR 2018: Commercial Bank of Ceylon
Commercial Bank of Ceylon
Some banks see corporate and social responsibility as an afterthought. Commercial Bank of Ceylon is genuinely committed to the concept, having set up a trust back in 2004 that generates measurable and sustainable social dividends for those parts of society that need it most.
At the heart of its CSR activities is education and information technology. To date, Commercial Bank has donated 175 IT laboratories to schools around the island, rolling out online learning programmes that help children improve their digital literacy and a learning management system that enhances teachers’ classroom skills.
In rural areas, the lender has joined forces with scientists to combat a chronic kidney disease that results from drinking contaminated water; CommBank is helping to distribute clean water to more than 1,500 families. Another landmark project points to the bank’s commitment to cultural and environmental heritage. It is funding a book on Sri Lanka’s biodiversity, published in alliance with the Biodiversity and Elephant Conservation Trust, a non-profit founded in 1998. CommBank’s trust has also committed SLRs5 million to the construction of a new museum at Kiri Vehera, an ancient Buddhist stupa in the south of the island that dates back to the sixth century BCE.
By the end of 2017, the trust had completed 307 projects at a total cost of SLRs405 million ($2.6 million).