As part of its commitment to understanding the requirements of youth and empowering them to achieve their goals, the Commercial Bank of Ceylon has signed a Memorandum of Understanding (MoU) with the Asia Pacific Institute of Information Technology (APIIT) Sri Lanka to promote the Bank’s Education Loans among students pursuing higher studies.
Under this collaboration, Commercial Bank will provide students of APIIT with attractive and affordable loan facilities to pursue their academic aspirations. The Bank’s Education Loans cover up to 90% of course fees subject to a maximum of Rs. 10 million and also offer laptop loans of up to 100% of the purchase price to a maximum of Rs. 1 million. Students will also benefit from a grace period of up to two years and a waiver of up to 50% on documentation charges, the Bank said.
APIIT is a leading private higher education institute in Sri Lanka offering diploma, undergraduate, and postgraduate programmes in computing, business, law, and related fields. It is affiliated with Staffordshire University in the UK and the Asia Pacific University of Technology and Innovation in Malaysia.
This collaboration gives students the opportunity to pursue their chosen fields of study with greater financial flexibility and contributes to developing a skilled workforce for the future.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 billion, Commercial Bank was also the first bank in the country to be listed among the Top 1000 banks of the world, and has the highest capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.
Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
