National Development Bank PLC, the Best Bank in Sri Lanka as adjudged by Global Finance USA and Euromoney, emerged as the Gold award winner of the Private Banks category at the 2022 TAGS Awards - the annual reports awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) - for NDB’s 2021 Annual Report “Inside Insight”. NDB also won the Silver Award for Corporate Governance disclosures - across all competing sectors, reflecting the strong governance practices instilled within the Bank which in turn has enabled exceptional reporting and disclosures.
The awards programme, conducted in collaboration with the Colombo Stock Exchange for the 57th consecutive year was newly rebranded awards as TAGS to reflect the core values of the over half a century competition and to strengthen and uphold the integrity of the financial, environmental, social, & governance reporting, apart from promoting the need to increase the transparency of companies which produce annual reports.
Commenting on this most recent addition to NDB’s multiple awards, Director/ CEO Mr. Dimantha Seneviratne stated that “these much coveted and highly competitive awards are testimony to the fact that NDB is dedicated to excellence is all performance aspects. For us the Bank’s annual report is a core communications tool via which we connect to all our stakeholders on how we created value to them and what we have strategised for the future. We intend for it to serve as a source of information based on which their decisions to partner us for mutual progress are made. We have upheld the principles of Transparency, Accountability, Governance and Sustainability in our ethos and resultantly in our reporting for many years. CA Sri Lanka’s re-launch of their annual reports awards programme on these lines is timely and apt, and we hope this will spur deeper enhancements in corporate reporting in Sri Lanka, and benefit capital markets he noted.
NDB’s Vice President Finance – Ms. Suvendrini Muthukumarana, commented that “at NDB we make continuous improvements to our corporate reporting in making them clear, concise, transparent, relevant and timely to users. We have adopted international best practices in both financial and non-financial reporting, and have kept abreast with emerging non-financial reporting frameworks such as SASB and TCFD to ensure that our reporting is globally relevant and meets the evolving information needs of its users.
As Sri Lanka’s fourth largest listed bank, NDB continues its mission in national development through universal banking solutions coupled with full-spectrum capital market solutions, strong digital drive.