Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* ComBank Annual Report Best in Banking sector for 14th year
Tue, Dec 11, 2018, 01:39 pm SL Time, ColomboPage News Desk, Sri Lanka.

Dec 11, Colombo: The Commercial Bank of Ceylon PLC was reaffirmed the best among Sri Lanka's banks for financial disclosure for a consistent 14th year, winning the Gold in the Banking Institutions category at the 2018 CA Sri Lanka Annual Report Awards.

The Bank also won the Bronze award for Overall Excellence in Annual Financial Reporting across all sectors of business, the Gold for 'Integrated Reporting - Best Disclosure on Capital Management,' the Gold for 'Corporate Governance Disclosure,' and the Silver for 'Integrated Reporting' at the 54th edition of these awards. This was the highest number of awards received by a banking institution.

This is the 15th time that Commercial Bank's Annual Report has been ranked among the top three overall in Sri Lanka by the country's apex professional body in the domain of accounting.

"We are naturally elated to once again be adjudged the best among banks for financial reporting, an area in which Commercial Bank has excelled for many years," the Bank's Managing Director Mr S. Renganathan said. "The Annual Report is the most vital medium of disclosure between an institution and its stakeholders and facilitates communication with our shareholders, depositors, borrowers, employees, other financial institutions, regulators, government agencies and suppliers. These awards are a tribute to the hard work of our Annual Report team, which works around the clock each year to improve the quality of content."

The CA Sri Lanka awards reflect effectiveness in communication of financial and non-financial information to stakeholders and strict compliance with legislative requirements and accepted accounting best practices. In evaluating reports for the awards, CA Sri Lanka looks at the organization's ability to effectively communicate organizational objectives, highlights, performance, personnel and management to an intended audience.

Held since 1964, the CA Sri Lanka Annual Reports competition is considered a platform which encourages excellence in the presentation of information covering transparency, social accountability and good governance among diverse Sri Lankan business entities in the field of financial reporting.

The only Sri Lankan Bank to be ranked among the world's top 1000 banks for eight years consecutively, Commercial Bank operates a network of 263 branches and 800 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and more than 20 international awards in the first eight months of 2018.

Commercial Bank's overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay PyiTaw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.


ColomboPage - Recent 10 Stories ::
Emergency guidelines issued for all fishermen as the bad weather continues
Sri Lanka President rejects all allegations leveled against his administration over Easter Sunday attack
President to launch a program to provide milk for every child today
Three 'Ava Gang' members arrested for Manipai clash with police
Sri Lanka nationwide inflation declines to 2.1 percent in June 2019
Emergency extended for another month
AG's petition against granting bail to former Defense Secretary and suspended IGP tomorrow
Will not allow to cut trees in Wilpattu, official tells court
Police arrest 237 drunk drivers in past 24 hours
President emphasizes on assistance to advance science and technology sector

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.