The following provides a summary of progress made against the Bank’s transformational strategy. It utilises objectively verifiable indicators where possible to measure success, describes how resource were allocated during the year, and details critical interdependencies and trade-offs between capitals that impacted how the Bank created value in 2022.

Customer-centricity Digital excellence Rewarding credit culture and healthy credit portfolio Building a
Stability, governance and sustainable growth

Interest rate rationalisation for “Personal and Pensioners' Loan Schemes” covering LKR 67.9 billion loan exposures
LKR 2.2 billion investment in property, plant and equipment
LKR 1.8 billion investment in digital infrastructure LKR 74.4 billion moratoriums granted
LKR 259.2 billion impairment provision reserve
LKR 27.5 billion invested in compensation and benefits
LKR 73.9 million invested in training and development
LKR 28.9 million invested in staff safety and facilitation of access during crises
LKR 60.1 million investment in community engagement
USD 1.9 billion allocated to finance essential imports
(fuel and gas)
LKR 711.6 million new facilities for green technologies funded
by the Bank
USD 90 million AIIB credit facility received fully disbursed to COVID-19 affected customers at a concessionary rate by end of 2022

Manufactured capital
19 branches relocated
One new branch and three limited service branches opened
61 branches and off-site zones improved
75 CRMs installed 51 Solar-powered branches as of
end 2022

288 training programmes conducted on customer service 66% of new recruitments for IT and digital services Eight new BRRUs
established at provincial level
163 training programmes conducted relating to lending
588 merit-based promotions awarded
46 branches were awarded under BoC Spirit Awards
57 new recruitments
259 officers trained for E&S screening

Social and relationship capital

244 workshops conducted
1,019 customers benefited through education and awareness
57 new recruitments
2,706 new PoS machines
24 new IPG merchants
LKR 20.3 billion of customer cash flow is managed by BRRU Performance Challenge Reward Scheme incentives granted to 168 branches
What did the Bank do?
Concessions, moratoria, and provisions were enabled.

How did the Bank do?
By allocating financial capital, at cost to the Bank’s performance.
These decisions retained customers, contributed to customer satisfaction, loyalty, and brand strength.

a gain to the Bank’s social and relationship capital and intellectual capital, and intensifies the Bank’s physical footprint across the country.
(-) Financial capital
(+) Manufactured capital
(+) Social and relationship capital
(+) Intellectual capital
What did the Bank do?
The Bank’s continued investment in digital infrastructure (including cybersecurity infrastructure), and digital products and services was made possible

How did the Bank do?
By allocating financial capital.
These investments contribute to future-proofing the Bank’s business model, support customer experience and customer retention, unlock significant process efficiency improvements, and result in cost savings and increased revenue streams.


a gain to the Bank’s social and relationship capital, intellectual capital, and financial capital in the medium to long-term.
(-/+) Financial capital
(+) Social and relationship capital
(+) Intellectual capital
What did the Bank do?
The Bank prioritised revival and rehabilitation of business, as part of its customer-centric strategy. Extension of protection against rising interest rates and provision of moratoria and concessions were accommodated.

How did the Bank do?
By allocation of financial capital and human capital.
In the long-term, support provided to customers and training of staff contributes to retaining creditworthy customers for future business, improves capacity of staff, and inculcates a credit-conscious culture.

Gains to intellectual and human capital in the short and medium-term, and potential gains to financial capital in the long-term.
(-/+) Financial capital
(+) Human capital
(+) Intellectual capital
What did the Bank do?
The Bank is committed to investing in its workforce, and upholds an ethos of excellence and performance-based career development.
Supporting the staff through disruptions and in a hyper-inflationary environment is required.

How did the Bank do?
Allocation of financial capital by adjusting component on the salary as per the inflationary linked index.
These investments result in a multitude of short, medium, and long-term gains.

Including competitiveness in attracting and retaining talent, a well-equipped workforce, improved employee engagement and loyalty, greater customer service/experience, and results in greater productivity and efficiency.
(-/+) Financial capital
(+) Human capital
(+) Intellectual capital
What did the Bank do?
The Bank mainstreams sustainability and aligns with the CBSL’s Sustainable Financing roadmap through green financing, E&S risk screening, financial inclusion, development lending, and reducing the Bank’s environmental footprint.

How did the Bank do?

These require allocation of financial capital, manufactured capital, and human capital.

These investments unlock greater opportunity for action as a PFI; improved brand presence and equity; a better equipped workforce; improved relationships with business partners, regulators, and communities; and improved environment alongside reduced environmental impact.
(-/+) Financial capital
(+) Manufactured capital
(+) Human capital
(+) Intellectual capital
(+) Social and relationship capital
(+) Natural capital
against our strategy
NPS (35%)

New customers acquired (4%) (652,961)
Customer penetration 67%
Contact points (61)
Growth in digital transactions volume 24% (2021 – 43%)
Customers onboarded to virtual platforms
(2021 – 610,083)
Digitally enabled customers 30%
(2021 – 31%)
Virtually enabled customers %
(2021 – 11%)
Growth in loan book 0.3% (2021 – 22%)
Stage 3 ratio 5.3%
(2021 – 5.1%)
Number of customers revived 40 (2021 – 16)
Customer awareness programmes held 1,019 (2021 – 58)
Retention rate (98%)
Average 16 man-hours training per employee (2021 – 21.2 man hours)
Net profit per employee LKR 3.8 million
Value added per employee LKR 3.5 million
59% female representation
(2021 – 60%%)
Economic value created LKR 173.3 billion
Community investments LKR 60 million
Carbon footprint 27,332.6 tCO2eqv.
Renewable energy generated 3,246.3 MWh
233 scholarships to Nanajaya beneficiaries
2,111 Hapana Grade 5 scholarships for Ran Kekulu account holders