Strengthening its commitment to understanding the needs of today’s youth and empowering them to achieve their goals, the Commercial Bank of Ceylon has signed a Memorandum of Understanding (MoU) with DIMO Academy for Technical Studies (DATS) to promote the Bank’s Education Loans among students aspiring to pursue advanced technical and vocational training.
Through this collaboration, students enrolling at DIMO Academy, the vocational training arm of DIMO can pursue advanced studies in fields such as Automotive Technology, Plant Engineering, Electrical and Electronic Systems, Mechatronics and Automation, Hybrid and EV Technologies, Industrial LPG and HVAC, with the support of attractive loan facilities from Commercial Bank. These Education Loans offer financing up to Rs. 10 million, covering up to 75% of the course fee, and include a grace period of up to two years and a 50% reduction in documentation charges, easing the financial burden on students and families alike.
The MoU was signed by Mr. Sanath Manatunge, Managing Director/Chief Executive Officer of Commercial Bank and Mr. Gahanath Pandithage, Group Managing Director/CEO of DIMO, in the presence of senior representatives from both institutions.
DIMO Academy is a leading private higher education institution in Sri Lanka whose students benefit from state-of-the-art infrastructure, cutting-edge technology, and hands-on training that bridge the gap between academic learning and real-world applications. DIMO Academy offers industry-focused education that prepares its graduates to excel in some of the most dynamic sectors of the economy.
This partnership between Commercial Bank and DIMO Academy provides a timely boost for Sri Lanka’s technical education landscape, opening more doors for students to realise their potential and contribute to the nation’s progress, the Bank said. Through this collaboration, students can pursue their preferred fields of study with greater financial confidence and ease, empowering them to build rewarding careers in high-demand technical sectors.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn., 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 Tier I 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.
Photo caption:
Mr. Sanath Manatunge, Managing Director/Chief Executive Officer of Commercial Bank and Mr. Gahanath Pandithage, Group Managing Director/CEO of DIMO exchange the agreement in the presence of senior representatives of the two companies.
