Prudent Growth |
- Deposits grew by 15.50% and advances grew by 10.31%
- Branch network expanded by 8 branches in Sri Lanka, 01 branch in Bangladesh
- Expanded the ATM network by 30 in Sri Lanka and 02 in Bangladesh including the first ever Foreign Exchange ATM
- Opened a twenty-four-hour automated banking centre
- Expanded our online banking system to reach 100,000
- Growth in Debit Card portfolio by 400,000
- New products introduced during the year - Speed Home Loans, ‘Achiever’ current account, hire purchase facilities, agriculture loans for professionals, Two new electronic cards namely ‘Udara’ and ‘Achievers’
- Launch of iOS application to facilitate iphones
and ipads
- Many Awards and Accolades of recognition
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- Expand the delivery channels of the Bank by 12 in the ensuing year.
- Five more twenty-four-hour automated banking centres
- Improving the investment banking and custodian services arm of the Bank
- Introduce a mobile application for Android users with functionality similar to the
iOS version
- Launch an enhanced online banking platform for corporate customers
- Sustaining market leadership in interbank
FX market
- Expand our mobile banking system to reach 130,000
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Cost Efficiency via Innovation |
- Introduction of two new regional offices to reduce approval time of loans
- Completion of the Loan Origination System (LOS),
the centralised credit approval process
- Automating and improving our cash-dispensing capabilities and relaunching cash deposit capabilities
- Upgrade ComBank PayMaster processing to eliminate all paper-based applications
- All leasing-related operations of the Bank brought under a new lease operations module to improve the operational efficiency of the leasing function
- Implementation of Ambit Sierra Treasury, an end-to-end Treasury management solution provided by SunGard Inc.
- Launching web-based board papers, salary slips, e-attendance, e-leave systems, e-internal returns etc. to reduce the consumption of paper for internal documentation.
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- Implement the security module on Bank’s Loan Originating System (LOS)
- Introduce new cost effective model for new branches
- Automating the generation of internal security documents
- Expand the Bank’s KIOSKs network to automate fundamental functions relating to customers
- Reduce customer turnaround time by centralising certain identified customer related functions of the Bank
- Set up a specialised and centralised marketing and recoveries team to further improve operational efficiency
- Automate recruitment process
- Introduction of a biometric system to replace the manual attendance registers used at present
- Debit card PIN mailers to be replaced
with SMSs
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Exemplary Governance |
- Refining the self assessment process of the Directors
- Complied with all external regulatory requirements governed by the Corporate Governance directives and codes (CBSL, ICASL and SEC)
- All Non-Executive Directors reached independent status by end 2013
- Reviewed the status of compliance of regulatory requirements throughout the year
- A new Board - sub-Committee introduced during the year to further strengthen the governance structure
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- Continue to strengthen the corporate governance mechanism within the Bank
- Further strengthen the monitoring mechanism of related party transactions
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Managing Capital |
- Managing the risk-weighted assets through prudent capital allocation
- Declaring Rs. 2/- per share to be satisfied in the form of issue and allotment of new shares as part of the final dividend of 2012
- Raised US $ 75 Mn. borrowing from International Finance Corporation which is eligible to be treated under Tier II capital of the Bank
- Improved CAR of the Bank
- Well-structured capital budgeting practices in
the Bank
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- Managing/maintaining the capital levels consistent with the risk profile of the Bank
- Maintain a sound Capital Adequacy Ratio to support future expansion plans of the Bank
- Maintain the Bank’s dividend policy in line with the overall goals of the Bank
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Managing Risk |
- Implemented the Internal Capital Adequacy Assessment Process (ICAAP)
- Implemented Basel II compliance software solution
- Implemented a robust stress testing framework
- Obtained the ISO 27001:2013 standard certification, the premier global information security standard
- Strengthened the Integrated Risk Management Department
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- Setting up a new I.T data centre with enhanced security measures in line with the international standards
- Integrate ICAAP guidelines with the Bank's overall strategy
- Data intensive MIS approach for risk based decision making
- Moving into advanced approaches of Basel II
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Being Responsible
to the Community |
- Bank contributed Rs. 50 Mn. to the CSR Trust Fund to be in line with the policy
- 52 IT labs were donated to under-privileged schools which benefited 34,400 students through CSR
- 50 scholarships and laptops were granted to deserving university students
- 92 projects completed by the CSR Trust Fund
- Expanded/Improved the access points to low-populated or economically disadvantaged areas
- A customer survey designed to identify level of satisfaction of the Bank’s products and services, revealed improved customer satisfaction
- Designed products to benefit society (lending models for micro-entrepreneurs and agriculturists)
- Multilingual communication through media, point of sale materials to serve all ethnic groups
- Internship programme to facilitate 188 advanced level students
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- Bank to continue its contribution up to 1% of its profit to the CSR Trust Fund
- Donate 40 IT labs to underprivileged schools through the CSR Trust Fund
- Continue to award scholarships to deserving university students
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Minimising Environmental Footprint |
- Screened the environmental impact through the Social and Environmental Management System (SEMS) when evaluating large lending propositions
- Installation of ATMs with RoHS (Restriction of Hazardous Substances) standards
- A formal process in place to dispose decommissioned ATMs through a body approved by the Central Environment Authority
- Predetermined screening on environmental and social aspects on all suppliers prior to sourcing
- Lending to renewable energy generation projects
- The Bank funded a project for coral replanting, which was commenced in 2013 and is expected to be completed in 2015
- Effectively manage the energy consumption by adopting various energy saving methods. (e.g. usage of LED bulbs within the entire network, efficient usage of Air conditioners, etc.)
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- Continue to promote the paperless culture within the Bank
- Undertake CSR projects to preserve environment
- Continue the environmental screening process for large lending projects and selecting suppliers
- Continue to dispose decommissioned ATMs in accordance to the standards set by the Central Environment Authority
- Set up a primary data centre incorporating latest energy saving features. This project will save 300,000 kWh per annum of energy
- Develop smart buildings which used space and natural lightening efficiently
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Human Resource Development |
- Benchmark the salaries of the staff with a pool of banks through salary surveys conducted by an external organisation
- Career development through annual performance appraisal system
- Conducted programmes to enhance staff relations, productivity enhancement and talent management
- An employee satisfaction survey was conducted during the year
- Spent Rs. 54.9 Mn. on staff training and development
- Selected as the No. 1 Employer of choice among all corporates in Sri Lanka by LMD
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- Develop an attractive Employer Brand Plan for new entrants of better quality
- Identify skill gaps of potential employees for grooming them to take higher responsibilities
- Further improve the existing grievance handling procedure
- Aggressively promote staff suggestion scheme
- Provide overseas training on a structured manner to enhance the knowledge and motivation of staff
- Identify and select young, dynamic and qualified group of employees and provide them comprehensive training similar to that of Management Trainees
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Adding Value to Investors |
- Consistent stream of dividend
- High dividend payout ratio
- Close monitoring of the share transactions as well as the movement in share prices
- Market capitalisation of the Bank improved by 19.05%
- Maintained strict internal control mechanism in order to secure the confidentiality of information which will have direct impact on the share prices of the Bank
- Return on Equity of 18.40% is above the industry average
- Continue with the shareholder loyalty card
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- Maintain the Bank’s dividend policy in line with the overall goals of the Bank
- Continue to participate in investor promotions activities
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