The Country’s No.1 Bank, Bank of Ceylon won the “Albert A. Page Memorial Trophy” for the State bank sector at the 56th Annual Report Awards Organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). This annual award ceremony was organized in order to recognize the resilience and perseverance shown by Sri Lankan organizations in promoting transparency, accountability, good governance, sustainability and social responsibility amidst the new pandemic-influenced business climate.
Annual report considered as an important document that gives the financial state of a company and its positive contribution to the company’s bottom line, the country and society as a whole. Recognitions such as this award encourage Sri Lankan organizations to follow world-class accounting framework which is in line with international standards. The competition’s importance was heightened especially in a post-COVID-19 scenario, as businesses navigate through this challenging time. A fundamental advantage of the competition is also said to have helped organisations producing annual reports to transform their reporting methodology and style, helping investors and other stakeholders gain better insight into the organisation’s operations, and achievements.
Bank of Ceylon, the premier financial services organization in Sri Lanka, was awarded the coveted title of “Bank of the Year 2021 – Sri Lanka” by The Banker Magazine U.K. at an event held in London recently. The prestigious award is recognition of the Bank’s contribution to uplifting the lives of all Sri Lankans, while fulfilling its duty as the premier state bank. This award adds yet another title to the multi-award winning bank that has been listed in the Top 1,000 Banks in the World ranking, consecutively since 2012, with a country ranking of No. 1 by The Banker magazine, UK, as well as being listed as the No. 1 Banking Brand in Sri Lanka by Brand Finance Lanka with a brand value of over Rs. 53 billion for the year 2021 – the highest ever brand value recorded by a banking institution. The Bank has been rated at AA-(lka) by the Fitch Rating of Lanka, which was reaffirmed in the month of July this year too. Through this inclusive approach the bank has ensured that all Sri Lankans play an active part in the banking system empowering citizens from all walks of life to contribute to and benefit from the banking system.
