Governance and Risk Management

Board Committee Reports

Board Strategy Development Committee Report

Composition of the Committee

The Board Strategy Development Committee (the BSDC) consists of the following members whose profiles are given in the section on Board of Directors and Profiles.

Board members

Mr K G D D Dheerasinghe*
Mr M P Jayawardena*
Mr S Renganathan
(Managing Director/Chief Executive Officer)
Prof A K W Jayawardane*
Mr K Dharmasiri*
Mr L D Niyangoda*
Ms N T M S Cooray*
(Appointed w.e.f. March 28, 2019)
Mr G S Jadeja
(Resigned w.e.f. March 28, 2019)

Secretary to the Committee

Mr R A P Rajapaksha
(Company Secretary)

*Independent Non-Executive Director

Attendance at Meetings

Name Eligible to attend/ Attended
Mr K G D D Dheerasinghe 11/11
Mr M P Jayawardena 11/11
Mr S Renganathan 11/11
Prof A K W Jayawardane 11/10
Mr K Dharmasiri 11/11
Mr L D Niyangoda 11/10
Mr G S Jadeja 02/02
Ms N T M S Cooray 09/07

The Committee assisted the Board by evaluating the business strategies and strengthening core competencies.

Charter of the Committee

The Committee was established to have an overall Bank-wide strategic management oversight.

The Committee is empowered:

  • To assist the Board in performing its oversight responsibilities relating to the Bank’s strategy.
  • To advise and monitor the Management on:

– Defining of business strategies geared for the sustainable development of the Bank; and

– Establishment of processes for planning, implementing, assessing, and adjusting of the business strategy.

  • To oversee the Management’s engagement on the strategic perspective, direction and development of the strategy for the Bank and its business units.
  • To oversee the Management’s implementation of the approved strategic plan and the progress against strategic milestones and goals.
  • To oversee the Management’s implementation of major business transformation projects and their execution.
  • To engage in detail discussion and provide guidance to the Management on:

– Governance, risk appetite, financial and capital planning, liquidity and fund management, control environment and resources required to support the Bank’s strategic objectives.

– Divestitures, Mergers and Acquisition strategies including post transaction performance tracking.

– The impact of changes in the competitive environment.

Activities in 2019

The BSDC assisted the Board by evaluating the business strategies and strengthening core competencies of the Bank.

The BSDC met frequently than the minimum number of meetings as per Terms of Reference (11 meetings in 2019) and was able to offer greater responsiveness in the strategic decision-making process of the Bank.

In addition, the BSDC reviewed matters related to capital planning, dividend policy, acquisition and investment opportunities.

Corporate Plan and strategies planned by the management were reviewed against the achievement and necessary directions were provided to management to achieve the desired results.

K G D D Dheerasinghe

Board Strategy Development Committee


February 20, 2020