Commercial Bank Expands ‘ComBank Shakthi’ Network to 26 Locations 📈

• Overview: Commercial Bank of Ceylon has added 22 new outlets to its ComBank Shakthi Agency Banking network, bringing the total to 26 strategic locations island-wide. This expansion complements the bank’s existing 272 branches, totaling 298 physical access points. • Service Model: The network utilizes third-party agents (local businesses) equipped with specialized POS devices. These outlets provide real-time, encrypted transactions including cash deposits, withdrawals, fund transfers, and bill payments. • Strategic Focus: • Financial Inclusion: Targets underserved and rural communities to bridge the gap between traditional branches and the unbanked. • Operational Synergy: Integrated with Agriculture and Micro Finance Units (AMFU) to leverage existing community trust in rural sectors. • Efficiency: Reduces travel time and costs for customers while maintaining high security standards via SMS confirmations and printed receipts. • Regional Reach: New locations span diverse areas including Katupotha, Akkarayankulam, Akkaraipattu, and Wanathawilluwa, joining initial pilot sites in Tissamaharama and Hambantota. • Impact: The initiative drives economic participation by enabling small businesses and individuals in remote regions to access formal banking, fostering savings and financial security.