People’s Bank continues to be recognized for its excellence in corporate reporting

People's Bank Chairman Sujeewa Rajapakse presented the People's Bank's Annual Report for the year 2020 to Hon. Prime Minister Mahinda Rajapaksa. Also present at the event were CEO/GM of People's Bank Ranjith Kodithuwakku, Head of Finance Azzam A. Ahamat and Head of Marketing Nalaka Wijayawardana

People’s Bank has repeatedly been recognised and lauded for adopting and maintaining the highest international standards in corporate reporting via its Annual Reports which have won many prestigious awards both locally and internationally over the last several years.

Recently, at the International ARC Awards held in New York, USA - which is widely considered as the Academy Awards for Annual Reports by the financial community - People’s Bank garnered a total five (5) Awards for its 2020 Annual Report titled “Pride of the Nation”. The awards received included, amongst other, the Best Chairman’s Message amongst all global submissions under the category “Banks - National”. The fact that this was the second successive year the Bank received such accolade provides ample testimony to its commitment to uphold the highest standards of reporting and transparency. Its 2019 Annual Report titled the “Frontier” was the recipient of ARC’s Best in Sri Lanka Award and was amongst the exclusive club of fifty (50) Grand Awards Winners Globally

Adding to its portfolio of accolades, most recently, the Bank also won the Silver award, jointly under the ‘State Banks’ category for its Annual Report 2020 at the 56th CA Sri Lanka (Institute of Chartered Accountants of Sri Lanka) Annual Report Awards. Over 70 companies, including conglomerates, multinationals, non-profit organizations and SMEs, were recognized at the event for their excellence in financial reporting and for promoting transparency, accountability, good governance and social responsibility despite the new pandemic-induced business environment in the country.

People’s Bank Annual Report 2020 is the sixth Integrated Annual Report of the Bank. This Annual Report provides a transparent assessment of the Bank’s performance in line with its strategy, the manner in which bank created value for its stakeholders, operating context, governance and operations of the Bank during the 12-month period ending 31 December 2020. Continuing the Bank’s pursuit of excellence in corporate reporting, the Annual Report provides a balanced review of the Bank’s performance, in a concise but comprehensive manner. The Report, which builds on the 2019 Annual Report, is consistent with the Bank’s annual reporting cycle for both financial and sustainability reporting. It focuses on People’s Bank response to the COVID-19 pandemic and the ways in which the Bank has adapted to new ways of working and details plans for its future.

In preparing this Report the Bank drew on concepts, principles, and guidance from The International Integrated Reporting Council (IIRC) Framework, Consolidated set of Global Reporting Initiative Sustainability Reporting Standards Guidelines, GRI Standards: In Accordance – Core option, The Institute of Chartered Accountants of Sri Lanka, Securities and Exchange Commission of Sri Lanka (SEC), The Central Bank of Sri Lanka (CBSL), The Colombo Stock Exchange (CSE), The United Nations Sustainable Development Goals (SDGs) and The Smart Integrated Reporting Methodology.

Established under the People’s Bank Act No. 29 of 1961, Peoples' Bank has the largest customer base of 14 million customers in the country and also the largest branch network of 741 physical contact points to serve them. The bank provides its services 24 hours a day, 7 days a week and 365 days a year via its Self-Banking Units amounting over 250 across the island. It has played a pivotal role in taking digital banking benefits to the masses and thereby has positioned itself as the leading digital banking service provider in the country.

People’s Bank has always been lauded for proving its mettle with consistency, authority and sustainable growth, delivering an excellent overall business performance. Over 60 years, the Bank has evolved from being a provider of financial solutions to the masses to a leader in the digital banking sphere that simplifies cutting edge technology to benefit the entire nation.

People's Bank Chairman Sujeewa Rajapakse presented the People's Bank's Annual Report for the year 2020 to CBSL Governer, Then State Minister of Money & Capital Market and State Enterprise Reforms Hon. Ajith Nivard Cabraal. Also present at the event were CEO/GM of People's Bank Ranjith Kodithuwakku, Head of Finance Azzam A. Ahamat

People’s Bank won the Silver award, jointly under the State Banks Category for its Annual Report 2020 themed ‘Pride of the Nation’ at the 56th CA Sri Lanka Annual Reports Awards