In the year 2015, the Board established the Board Strategic Planning and Plan Implementation Committee (BSP and PI). The main objective of this Committee is to assist the Board to effectively undertake its responsibility in setting and modifying the strategic business direction of the Bank and to increase profits and brand equity in a sustainable, appropriate, and a responsible manner.

The ICT Strategy, Marketing Strategy, and Operational Strategy of the Bank were identified as three main sections that fall under the scrutiny of the Committee.

Composition of BSP and PI

BSP & PI comprises five (05) Non-Executive Directors, appointed by the Board of Directors. During the year 2020, the following Directors served on BSP and PI:

• Mr Lakshman Abeysekera – Chairman (BSP & PI), Independent, Non-Executive Director – (Appointed as Chairman w.e.f. 26 May 2020)
• Mr Prabhash Subasinghe – Non-Independent, Non-Executive Director
• Mr Chaaminda Kumarasiri – Independent, Non-Executive Director – (Appointed to the BSP & PI w.e.f. 26 May 2020)
• Ms Dinithi Ratnayake – Non-Independent, Non-Executive Director– (Appointed to the BSP & PI w.e.f. 26 May 2020)
• Mr Prasanna Premaratna – Independent, Non-Executive Director – (Appointed to the BSP & PI w.e.f. 18 September 2020)

Ms Samadanie Kiriwandeniya, Non-Independent, Non-Executive Director served as the Chairperson of the Committee until retired from the Board on 22 May 2020 and Prof Samapth Amaratunge – Independent, Non-Executive Director served as a member of the Committee and resigned on 26 May 2020.

The committee take this opportunity to place on record the appreciation for the valuable services rendered by Ms Samadanie Kiriwandeniya and Prof Sampath Amaratunge.

Company Secretary of the Bank serves as the Secretary to the Committee based on the approved ToR of the Committee.

Meetings of BSP & PI

The Committee met four (04) times during the period under review and during the year Committee deliberated followings and suggested recommendations for implementation of;

• Mid-year Review of Budget 2020
• Strategic Plan 2020-2022
• Budget 2021
• Business Strategies 2020
• Marketing Budget and Plan 2020

The scope of ToR

• In depth revision of the performance of the Bank on the strategic goals laid down in the Corporate Plan of the Bank, reviewing strategic and technical plans developed by the Management to achieve Business Development Goals of the Bank, identify areas to be improved, taking into account the new market opportunities and threats, strategic goals of the Bank and the Bank’s internal strengths and limitations.
• Examine the overall Marketing Strategy of the Bank and recommend the business development plans presented by the Corporate Management for the approval of the Board. In-depth analysis of the strategic issues related to business expansion, identified by the
  Board and the Bank’s business promotion plans, vis-a-vis benefits, risks, and strategic and financial implications on the organisation and the brand.
• Guide the Corporate Management and the Board on potential business expansion opportunities, especially in new markets and new technological platforms.

For and on behalf of the Board Strategic Planning and Plan Implementation Committee.

Mr Lakshman Abeysekera
Chairman
Board Strategic Planning and Plan Implementation Committee

19 March 2021
Colombo, Sri Lanka