ComBank leads Sri Lanka's SME lending for fifth consecutive year

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.

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The report shows that Commercial Bank disbursed Rs. 330.9 billion in SME loans in 2024, representing 30.3 percent 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 percent 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 percent of the Rs. 557.6 billion in total loans received by Sri Lanka's industrial enterprises in 2024.