The Commercial Bank of Ceylon has unveiled its new agency banking model, ‘ComBank Shakthi,’ in a move aimed at extending convenient and affordable banking services to communities located far from major towns.
Positioned as a key milestone in the Bank’s customer convenience strategy, ComBank Shakthi allows the Bank to partner with vetted third-party agents—typically local businesses or individuals—to provide core financial transactions without setting up full branches. Through these authorised agents, customers can now make cash deposits, withdrawals, fund transfers, and bill payments at more accessible locations, particularly in rural and underserved regions.
Commercial Bank said the initiative responds to the increasing importance of accessibility in the banking sector and aligns with its commitment to inclusive service delivery. By reducing travel time and related costs for customers, the Bank expects the model to significantly enhance engagement in outlying communities.
The agency banking framework is tightly integrated with the Bank’s Agriculture and Micro Finance Units (AMFU), leveraging long-established relationships with rural customers. The Bank noted that this combination of local trust, community presence, and technology-backed operations will help broaden financial inclusion while supporting grassroots economic activity.
The pilot launch of ComBank Shakthi took place at Iresha Food City in Weerawila, attended by senior management including Chief Operating Officer S. Prabagar, Deputy General Manager – Personal Banking S. Ganeshan, and other corporate and regional leaders. The demonstration highlighted the Bank’s intent to scale the model across more locations in the coming months.
Commercial Bank, the first Sri Lankan bank to surpass a market capitalisation of US$1 billion, remains the largest private sector lender and the biggest financier of Sri Lanka’s SME sector. Recognised among the Top 1000 Banks of the World and known for its leadership in digital innovation, the Bank also claims the distinction of being the country’s first 100% carbon-neutral bank.
The Bank operates an extensive branch and ATM network locally and maintains the widest international footprint among Sri Lankan banks, with operations in Bangladesh, the Maldives, Myanmar, and the Dubai International Financial Centre. Its subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Ltd., also contribute to its diversified financial services portfolio.
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