Engagement with stakeholders in formulating the strategy of the Bank and awareness of their concerns are key considerations in delivering the core purpose of SDB. These interactions take place through various platforms, both formal and informal.
In selecting the appropriate stakeholders to engage with, the Bank takes into account the individuals and entities who can reasonably be expected to be impacted by the Bank’s activities, products, services and financial performance. Also considered is the impact of the actions of those stakeholders which could affect the ability of the Bank to successfully implement its strategies to achieve the desired outcomes.
The mechanisms used to engage with the stakeholders is shown below:
Achieving our financial goals
Investors
- Annual General Meeting
- Annual Report
- Quarterly earnings updates
- Press releases and announcements to the Colombo Stock Exchange (CSO), as and when required
- “Investor Relations” tab on the corporate website
- Face to face engagement, as required
Winning customer loyalty
Customers
- Interaction at branches
- Customer surveys and site visits
- Suggestion boxes
- Press releases
- Formal grievance mechanism
Working with passion
Employees
- Induction and training programs
- Multi-level staff meetings
- Monthly regional meetings
- Annual performance appraisals
- Discussions with Union representatives
- Work-life balance initiatives
Contributing to society and the Environment
SANASA Societies and the Community
- Annual General Meeting
- SANASA Society consultation meetings
- Direct engagement with the dedicated department
- Quarterly one on one financial presentations
- Engagement through branches
- Community initiatives
- Community visits
Building strong partnerships
International agencies and Regulators
- Periodic fact-finding visits
- Annual reviews
- Direct engagement with consultants
- Industry forums and meetings with the CBSL
- Compliance reporting to the CBSL
- Surveillance audits
- Announcements to the Stock Exchange