ComBank's Annual Report clinches two awards

The 2013 Annual Report of the Commercial Bank of Ceylon PLC won two key awards at the Best Presented Annual Report Awards presented by the South Asian Federation of Accountants (SAFA).

The bank was adjudged winner in the 'Private Sector Banks' category and was the first runner-up in the SAARC Anniversary Award for Corporate Governance Disclosures, at the event in Bhubaneshwar, India, alongside the 37th Board Meeting of SAFA recently.

In second and third place among private sector banks in the South Asian region were MCB Bank Limited of Pakistan and Prime Bank Limited 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 Commercial Bank has been a consistent winner at the awards for many years, establishing itself as one of the best in the region for financial reporting," 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," he said.

The 2013 Annual Report of Commercial Bank was themed 'Together to Prosperity.' Its preamble set the tone with the words, "Everyone has dreams for the future.

But sometimes the challenges of the journey ahead can loom larger than the goals we've set for ourselves, keeping our aspirations in the realm of dreams. The journey becomes far easier, though, when we have the right travelling companion."