People’s Bank, Sri Lanka’s Premier Licensed Commercial Bank, was recognised by the Institute of Certified Management Accountants of Sri Lanka (CMA) for its 2021 Annual Report as one of the top ten ‘Best Integrated Annual Reports” in the country at the recently concluded CMA Excellence in Integrated Reporting Awards 2022. The integrated reports are evaluated using guidelines applicable in the International Integrated Reporting Framework as issued by the International Integrated Reporting Council in 2013. The evaluation takes into account not only financial information but also non-financial and other qualitative aspects of reporting
The recognition ceremony held annually by CMA encourages Sri Lankan companies to undertake integrated reporting that will be beneficial to their investors and stakeholders. Speaking about their accomplishments Sujeewa Rajapakse, Chairman of People’s Bank said, “We are very proud of the achievements of our team at People’s Bank and for their commitment to ensuring these global best practices are adhered to. People’s Bank has been recognised for its strategic focus in the short, medium, and long term. The sharing of information, the value creation provided to our customers and completeness in our service offerings.”
Ranjith Kodituwakku, Chief Executive Officer/General Manager of People’s Bank added, “The team at People’s Bank have excelled in adapting and responding to the needs of an ever-changing business environment where it is of paramount importance to showcase intangible and non-financial assets, that are determinants of long-term value creation. People’s Bank, as a leading bank in Sri Lanka, is changing the way we communicate our value created for the benefit of all our stakeholders and are delighted to be recognised for it by CMA Excellence in Integrated Reporting Awards 2022.”
Azzam A. Ahamat, Head of Finance at People’s Bank speaking about this accolade, stated: “Our integrated annual report titled “Multifaceted Brilliance” ultimately tells our story of success and challenge on a three-hundred-and-sixty-degree basis covering both quantitative and qualitative aspects of our business operations; providing insights into our strengths and stress points in what was, and continues to be, a highly challenging market environment. The objective is to carry out our services in the most concise and transparent manner. Being among the top 10 Best Integrated Annual Reports in the country attests to this commitment and our continuing effort to set new benchmarks in integrated reporting”
Established under the People’s Bank Act No 29 of 1961, People’s Bank is the country’s second-largest financial services provider with close to LKR 3.0 trillion in consolidated assets and accounts for close to 16.0% of Banking sector assets. At present, the Bank has 744 branches and service centres located island wide and over 14.5 million customers. The Banker Magazine (UK), identified People’s Bank as among the Top 1000 Banks in the World in terms of Consolidated Tier I. It is also honoured with numerous awards and accolades both locally and internationally, including the International ARC Awards 2022 – Specialized A.R: Integrated AR & CSR: Non-Traditional Format.