Sri Lanka’s Commercial Bank of Ceylon (ComBank) has adopted Bloomberg’s Data License in order to access reference data, streamline its portfolio management and facilitate growth.
ComBank, the first Sri Lankan bank to adopt Data License, will use the service to automatically perform valuations and ‘mark to market’ its portfolios, reducing error risk, Bloomberg explained.
Data License provides data points on reference, ESG, pricing, risk, regulation, fundamentals, estimates, historical data and more, Bloomberg stated, all of which is in line with data on the Bloomberg Terminal. This allows firms to streamline their operations and find new investment opportunities, it continued, while also facilitating consistency and scale across investment workflows.
Commenting on the announcement, Asela Wijesiriwardane, deputy general manager for Treasury at ComBank, said: “Adopting Bloomberg’s Data License will help Commercial Bank in effectively and accurately valuing our fixed income portfolios while streamlining the FX rate scanning and rate sheet generation processes. Additionally, having access to a large database of high-quality data will aid our efforts in automating and improving existing processes.”
Rajiv Mirwani, head of Bloomberg South Asia, added: “We are pleased to support Commercial Bank of Ceylon with comprehensive enterprise data they can use to streamline operations, enhance efficiencies, and identify new opportunities in the wake of Sri Lanka’s growing economy.”
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