As the Maldives celebrates its Independence Day, Bank of Ceylon together with Bank of Ceylon Maldives branch take this moment to reflect on its role as a pioneer banking partner, and also as a meaningful part of a wider regional story that connects people, economies, and opportunities.
BOC’s presence in Maldives since 1981 plays a strategic role in Maldives economy as well as it is a foreign exchange engine to Sri Lanka as a pillar of BOC’s global presence. BOC Maldives established early in 1981, opened its first overseas branch in Male’ city making the first Sri Lankan bank to operate in the Maldives, expanded its presence to Hulhumale in 2019. Its consistently delivered digital-first services introducing country’s earliest ATMs, internet banking, instant payment systems like Favara and POS/ IPG platform tailored for wholesale and tourism clients. BOC Maldives has played a significant role in uplifting national infrastructure and other key sectors and pioneer in financing in large scale developments projects in Maldives.
BOC, Maldives also strengthens Bank of Ceylon’s regional footprint and international brand presence. By operating in a growing and dynamic economy like the Maldives, BOC is able to expand its reach, serve a wider network of clients including Sri Lankan expatriates in Maldives, and remain connected to evolving financial needs across borders. This kind of diversification is vital for long-term resilience and stability.
BOC Maldives has consistently acted as a financial bridge between Sri Lanka and the Maldives, facilitating trade finance, forex transactions, correspondent banking, and investment activities with strong regulatory coordination between both countries.
“As we join the people of the Maldives in marking their Independence Day, we also acknowledge the important role this country plays in our journey as a regional bank,” said a senior official at Bank of Ceylon. “BOC Maldives is an integral part of our network, and we are proud to serve a community that continues to grow with us.”
For over 85 years, Bank of Ceylon has been a cornerstone of Sri Lanka's financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation, ensures that bank’s customers have convenient access to a wide range of financial services. Moreover BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2024 and the Banker of the Year 2021,2023 and 2024 by The Banker Magazine UK, The Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka. BOC also received the People’s Banking Services Brand of the year at the SLIM KANTAR Peoples Awards 2024.Internationally, Bank of Ceylon has established a strong presence in key locations such as a Subsidiary in London, UK; branches in Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.
As the Maldives celebrated 60 years of independence, the nation stands as a shining example of resilience, progress and ambition, over the decades, the Maldives has transformed itself into a dynamic economy and after global destination. Bank of Ceylon is proud to have been a trusted financial partner in this remarkable journey supporting the nation’s vision through infrastructure development, tourism growth and innovative banking services.
