Quick answer: Bank of Ceylon (BOC), Commercial Bank of Ceylon and Sampath Bank are all strong, but each suits a different customer. BOC is the largest bank in Sri Lanka, with Rs. 5.47 trillion in assets at the end of 2025. It is wholly owned by the government and has the widest network, with 584 branches and about 1,500 ATMs and cash machines. On mid-October 2026 rate cards, though, its 12-month fixed deposit rate was the lowest of the three. Commercial Bank is the largest private bank, with the cleanest loan book (Stage 3 ratio 1.38% in June 2026), higher deposit rates and the most widely used digital platform. Sampath is the smallest of the three, a private bank with strong capital and growing retail lending. All three hold Fitch's AA-(lka) national rating, and deposits in each are insured up to Rs. 1.1 million per depositor.
LKBC1610Below we compare size and financial strength, safety, deposit rates, digital banking and everyday fees, and what each bank does best, using annual reports for 2025, interim results for 2026 and rating actions.
Size and financial strength
| Indicator (bank level) | Bank of Ceylon | Commercial Bank | Sampath Bank |
|---|---|---|---|
| Ownership | 100% Government of Sri Lanka | Listed private bank | Listed private bank |
| Total assets, Dec 2025 | Rs. 5,467.6 bn | Rs. 3,258.0 bn | Rs. 2,012.3 bn |
| Customer deposits, Dec 2025 | Rs. 4,388.6 bn | Rs. 2,608.9 bn | Rs. 1,650 bn |
| Profit after tax, 2025 | Rs. 76.0 bn | Rs. 58.5 bn | Rs. 30.2 bn |
| Profit after tax, first half 2026 | Rs. 39.8 bn (+10.7%) | Rs. 35.4 bn, group (+13.7%) | Rs. 16.6 bn (+13%) |
| Total capital ratio, Dec 2025 | 16.89% | 16.70% | 17.65% |
| Stage 3 (problem) loans, Dec 2025 | 5.59% | 1.54% (1.38% in June 2026) | 3.31% |
BOC is bigger than the other two combined in deposits and reaches about three quarters of Sri Lankans through 17.5 million deposit accounts. Its problem-loan ratio is the highest of the three, partly because it lends heavily to state-owned enterprises, but it fell from 7.17% in 2024 to 5.59% in 2025. Commercial Bank grew its loans by 37.5% in 2025 to pass Rs. 2 trillion and earned a net interest margin of 4.51%. Sampath posted record earnings in 2025 and a return on equity of 17.93%, although its profit dipped in the first quarter of 2026 because of higher provisions before recovering in the second.
How safe is your money?
- Deposit insurance: deposits at all three banks are automatically covered by the Sri Lanka Deposit Insurance Scheme, run by the Central Bank, up to Rs. 1.1 million per depositor per bank, including interest and foreign currency deposits paid out in rupees. Accounts you hold at the same bank are added together; each joint account holder counts as a separate depositor.
- Government ownership: BOC's sole shareholder is the government, which makes it a systemically important state bank. That is strong backing, but it is not a written blanket deposit guarantee: among state banks, only the National Savings Bank has a statutory guarantee.
- Ratings: Fitch rates all three AA-(lka) with a stable outlook on its national scale; Commercial Bank and Sampath were affirmed on 17 August 2026. On 1–2 October 2026 Fitch upgraded BOC's international ratings from CCC+ to B- after Sri Lanka's sovereign upgrade.
If you hold more than Rs. 1.1 million, splitting it across two or three of these banks keeps all of it within the insurance limit.
Sampath Bank's Rs. 10 billion Basel III subordinated debentures received a final 'A(lka)' rating from Fitch on 14 October 2026. That matters less for a depositor than the Green Fixed Deposit framework it launched in 2026, a product the bank-specific rate cards in this comparison do not yet break out from ordinary fixed deposits. If you want the green label, confirm the branch is quoting the green sheet rather than the standard board rate.
Commercial Bank's board rate for a 24-month deposit now reaches 11.00% and stretches to 12.50% at 60 months as of October 2026, well above the 12-month figures shown in the tables above. The trade-off is duration risk: that rate is locked for the full term. Before committing, check the bank's current sheets for how to open a fixed deposit in Sri Lanka. BOC's term sheet runs to 8.25% at longer tenures, while senior citizens can reach 11.32% as of October 2026, so compare that against the senior citizen deposit rates table before choosing a term.
Deposit rates in 2026
Rates turned upward in 2026. The Central Bank raised its overnight policy rate by one percentage point to 8.75% on 26 May 2026, its first hike since 2023, and kept it there at later reviews. Banks followed: on rate cards published around 12–15 October 2026, BOC paid 7.25% a year on a 12-month fixed deposit (up from 6.75% in March) and 7.75% to senior citizens. Commercial Bank paid 10.00% at maturity, 9.55% with monthly interest and 10.25% on its digital eFD, up from 8.00% in March. Rate sites showed different figures for Sampath's 12-month deposit, from 8% to 10%, so check the bank's own current rate sheet before you deposit.
Savings accounts pay much less than fixed deposits at all three banks; at BOC you need at least Rs. 3,300 in the account to earn interest. Interest is taxed at source at 10% since April 2025. For every bank and term in one place, see our table of fixed deposit rates in Sri Lanka, and if you are over 60, the senior citizen deposit rates.
Digital banking and everyday fees
| Bank of Ceylon | Commercial Bank | Sampath Bank | |
|---|---|---|---|
| Main apps | BOC Flex (over 1.2 million registrations), B-App, Smart Passbook, SmartPay for QR | ComBank Digital (1.96 million users), ePassbook (1.8 million), Flash digital account with video KYC, Q+ for QR | Sampath Vishwa online banking, WePay wallet, e-Passbook |
| Strength | Government payments through GOVPAY, over 220 state institutions | First LANKAQR-certified app; first bank in Sri Lanka with Google Pay | Interbank QR payments and transfers in one wallet |
| SMS alerts | Rs. 0.50 per alert on rupee accounts | Free on Super Saver accounts, standard charges otherwise | Rs. 350 a year plus Rs. 1 per card alert after the 10th in a month |
| Classic debit card | See bank tariff | Rs. 1,000 to issue, Rs. 600 a year | See bank tariff |
Some costs are set by the Central Bank and are the same at every bank: LANKAQR payments of Rs. 5,000 or less carry no fee, and JustPay transfers between Rs. 8,001 and the Rs. 150,000 limit cost Rs. 20. Sampath's higher SMS charge drew a public petition with about 2,200 signatures, so look at alert fees if you use your card often. Before choosing, compare the tariff sheet each bank publishes, since card and account fees change during the year.
What each bank does best
- Bank of Ceylon: the widest reach, including rural areas, plus government pensioner loans under the Abhimana scheme and solar loans for pensioners. It is the largest SME lender (Rs. 319.9 billion in 2025) and the market leader in migrant worker remittances, with the Smart Remit app, pre-departure loans for overseas job seekers and branches in the UK, India, the Maldives and the Seychelles. Best for: pensioners, public servants, rural customers and families receiving money from abroad.
- Commercial Bank: rapid growth in home loans, personal loans, leasing and gold loans, foreign currency home loans for non-resident Sri Lankans, the RemitPlus platform and a remittance card. Euromoney named it Sri Lanka's best bank in September 2026. Best for: salaried urban customers who bank on their phone and want higher deposit rates.
- Sampath Bank: a corporate-heavy loan book with fast retail growth, foreign exchange income up 198% in the first half of 2026, and a Rs. 10 billion Basel III-compliant green bond issued in July 2026. Best for: customers who want a nimble private bank and active foreign currency services.
Many people hold accounts at two of these banks: a BOC account for its reach and government payments, and a private bank for digital banking and deposits. Whichever you choose, open accounts and fixed deposits only through the bank's own branches, official app or website; our step-by-step guide explains how to open a fixed deposit.
Before you move money this month, check three things. First, ask each bank for its full tenure grid, not just the 12-month headline: Commercial Bank's 24-month and 60-month rates as of October 2026 sit well above its one-year rate, and BOC's longer tenures beat its 12-month quote. Second, if you are 60 or over, confirm the senior-citizen tier in writing, because BOC's senior rate as of October 2026 is higher than its standard long-tenure rate. Third, if the green label matters to you, ask whether the deposit sits in a dedicated green framework. Lock the term you can actually hold to, not the highest number on the board.