NSB ranked No. 1 among public sector entities at SAFA awards

The National Savings Bank (NSB) has won the South Asian Federation of Accountants (SAFA) award for the best public sector annual report, at the SAFA Best Presented Accounts Awards 2005 at the Galle Face Hotel.

SAFA, an apex body of SAARC whose members comprise accounting bodies in each of the SAARC countries, presents awards each year for excellence in financial reporting among leading companies and institutions of the region.

NSB won the award for the Best Annual Report in the Public Sector, vying with the best of public enterprises in India, Sri Lanka, Pakistan, Bangladesh and Nepal.

Deputy General Manager (Finance, Planning and Asset Management) of NSB H. M. Hennayake Bandara said that the award to NSB is testimony for the maintenance of the highest standards in financial reporting, disclosure and transparency, in line with national and international requirements.

NSB also has the distinction of being accorded AAA (lka) credit rating status, the highest to be accorded to any financial institution in Sri Lanka.

NSB is the leading savings bank in Sri Lanka with over 14 million account holders and over 4,000 service points including its own branches as well as savings shops, post offices and sub-post offices throughout the country.

'We are undoubtedly the largest savings bank in Sri Lanka,' Hennayake said.The NSB is a fully owned Government bank, and contributes Rs 3 billion annually to the Government, by way of taxes and dividends. NSB's asset base amounts to over Rs 230 billion.