Here’s a concise, practical comparison of banks in Sri Lanka (as of published 2024–mid‑2025 results). I’ve focused on size, ownership, strengths, and safety—so you can pick a bank by what matters to you.

Snapshot — the biggest banks (by assets and market role)

• Bank of Ceylon (BOC) — largest bank in Sri Lanka (state‑owned). Very large branch/deposit base and systemically important; strong liquidity and capital metrics reported for 2024. (boc.lk)
• People’s Bank — second largest (state‑owned), very large deposit base and wide branch network; major retail & SME franchise. (newswire.lk)
• Commercial Bank of Ceylon (ComBank) — largest private bank and the largest private D‑SIB; strong retail, SME and corporate presence and extensive branch/digital network. (combank2024.annualreports.lk)
• Hatton National Bank (HNB) — major private bank with large retail/corporate operations, strong capital/liquidity metrics and emphasis on digital channels. (hnb.net)
• Sampath Bank — another top private bank (significant retail & corporate lending); reached ~LKR1.7–1.8 Tn assets by end‑2024 (continued growth into 2025). (sa.marketscreener.com, marketscreener.com)

Other categories and noteworthy names

• Development / specialised players: NDB Bank, DFCC Bank (focused on project & corporate finance).
• Newer / niche banks: Amana Bank (Islamic banking), Cargills Bank (retail/merchant tie‑ups).
• International/foreign banks operating in Sri Lanka include Citibank, Bank of China, and others listed by the Central Bank. (Full licensed bank list is published by the Central Bank of Sri Lanka.) (cbsl.gov.lk)

Safety & regulation — what to watch

• Regulator: Central Bank of Sri Lanka (CBSL) supervises all licensed banks and publishes lists/requirements. (cbsl.gov.lk)
• Deposit protection: Sri Lanka Deposit Insurance Scheme (SLDIS) insures deposits up to LKR 1,100,000 per depositor per institution (coverage includes LKR value of FX deposits). That’s an important baseline for retail savers. (cbsl.gov.lk)
• Systemic‑importance framework: CBSL has formally designated Domestic Systemically Important Banks (D‑SIBs) and applies higher loss‑absorbency requirements to those banks (e.g., ComBank and BOC are among the highest buckets; People’s Bank, HNB, Sampath are also designated). This affects capital buffers and supervision. (dailynews.lk, combank2024.annualreports.lk)

How the big banks differ in practice

• State banks (BOC, People’s Bank): biggest branch networks, highest deposit volumes, strong reach into rural/priority sectors; often chosen for cash/deposit convenience and government‑linked services. (boc.lk, newswire.lk)
• Large private banks (ComBank, HNB, Sampath): often lead on digital banking, card services, SME/commercial products, and faster innovation—good for urban retail and corporate users. (combank2024.annualreports.lk, hnb.net, sa.marketscreener.com)
• Niche/specialised banks and Islamic banks: better for specific needs (project finance, Sharia‑compliant products, merchant/retail tie‑ins).

Recent context (relevant when comparing)

• The 2022–2024 macro events (foreign‑debt restructuring, ISB restructuring, currency moves) affected banks’ provisioning, capital and trading incomes; many banks reported one‑off impacts in 2023–2024 and adjusted positions in 2024–2025. Check the latest annual/interim reports for any bank‑specific one‑offs before deciding. Examples: banks reported ISB‑related provisioning and subsequent adjustments in 2024 filings. (boc.lk, hnb.net)

Practical checklist to choose a bank in Sri Lanka

• Safety: check deposit insurance coverage (SLDIS limit) and the bank’s capital ratios / D‑SIB status. (cbsl.gov.lk, dailynews.lk)
• Convenience: branch/ATM network and POS/postal partnerships (state banks generally strongest). (boc.lk, newswire.lk)
• Digital & cards: compare mobile app reviews, internet banking features, fees and card acceptance (private banks tend to lead). (combank2024.annualreports.lk, hnb.net)
• Products & pricing: term deposit rates, savings interest, loan APRs and fees vary—check each bank’s published rates or reach out to the bank.
• Business needs: look for banks with strong SME or trade finance teams (ComBank, HNB and State banks are large lenders to corporates/SMEs). (combank2024.annualreports.lk, hnb.net)

If you want a short recommendation by use‑case (based on common needs)

• Maximum branch/ATM coverage / govt services: Bank of Ceylon or People’s Bank. (boc.lk, newswire.lk)
• Best balance of digital + retail + corporate: Commercial Bank, HNB, Sampath. (combank2024.annualreports.lk, hnb.net, sa.marketscreener.com)
• Islamic banking: Amana Bank. (cbsl.gov.lk)

Want a side‑by‑side table (products, fees, interest rates, branch counts)? I can build a custom comparison for specific banks and products (savings, fixed deposits, personal loans, business banking) using the latest published rates and branch/ATM counts.