Commercial Bank’s Annual Report best among private banks in South Asia
View(s):The 2013 Annual Report of the Commercial Bank of Ceylon PLC has won two key awards at the Best Presented Annual Report Awards presented by the South Asian Federation of Accountants (SAFA), the local bank said.
It was adjudged the winner in the ‘Private Sector Banks’ category and was the first runner-up for the SAARC Anniversary Award for Corporate Governance Disclosures, at this prestigious event in Bhubaneshwar, India, alongside the 37th Board Meeting of SAFA in early December, the media release noted.
In second and third place among private sector banks in the South Asian region were MCB Bank Ltd of Pakistan and Prime Bank Ltd of Bangladesh.
The SAFA awards, presented annually under different categories, are conferred on the basis of evaluations administered by the Federation’s Committee for Improvement in Transparency, Accountability and Governance, of the published annual reports of entries from South Asian countries.
The Bank’s Managing Director Jegan Durairatnam said, “The Annual Report is by far the single most important document a public listed company produces, and we constantly look at going beyond simply conforming to international standards, to keep adding value through greater transparency in the presentation of our performance.”