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Bureaucratic Organizational Structure & Practical Consequences

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Submitted By reeleez97
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Overview of the Organization

Commercial Bank of Ceylon PLC

➢ History

In 2003, Commercial Bank of Ceylon Ltd. acquired Credit Agricole lndosuez (CAl) operations in Bangladesh. CBC, while continuing CAI's strategy would further extend the reach and range of services in Bangladesh. Over a period, CBC has strengthened the retail banking side as well, for which Commercial Bank has made its name in Sri Lanka. The formal taking over of CAI's Bangladeshi operation took place on November 6, 2003. The official opening ceremony was held on 10th December 2003 attended by Governor Central Bank of Sri Lanka, Governor of Bangladesh Bank and many other distinguished guests, including diplomats, corporate customers, representatives of foreign multi-nationals and other well-wishers.

Over the period of last 9 years of operation in Bangladesh, CBC has expanded its branch network to 7 branches, 2 booths, 2 specialised OBU sections in Dhaka (Dhanmondi) and Chittagong (CEPZ) and 6 SME centers in Bangsal Road (Dhaka), Progati Sharani (Dhaka), Shantinagar (Dhaka), Tongi (Dhaka), Jubilee Road (Chittagong) and CDA Avenue (Chittagong). Unique products and services, superior service quality and efficient and customized solutions to the requirements of corporate and personal banking customers are hallmarks of the successful stride of CBC in Bangladesh.

With an unblemished history of nearly a century in the Sri Lanka's Banking arena, Commercial Bank has been rated as the Best Bank in Sri Lanka for the 14th successive year by Global Finance magazine - New York, as Bank of the Year Sri Lanka by The Banker magazine - UK for seven years, affirmed AA (LKA) rating of the bank by Fitch Ratings Lanka Ltd and Bangladesh Operations has been rated as AAA by CRISL (Credit Rating Information and Services Ltd). Equipped with modern technology and a unique versatility as an efficient service

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