Commercial Bank makes history winning coveted ‘Asia’s Best Integrated Report’ Award

Only Sri Lankan company to be awarded among elite group of corporates in the region

The Commercial Bank of Ceylon PLC won another accolade on the international stage recently when its 2014 Annual Report was adjudged ‘Asia’s Best Integrated Report’ at the Asia Sustainability Reporting Awards in Singapore.

The Commercial Bank was the only Sri Lankan company to be awarded at this prestigious event. The award ceremony recognised companies under 14 awards categories and one winner was declared for each category.

Organised by CSR Works International, Singapore’s leading sustainability advisory, research and training firm, the Asia Sustainability Reporting Awards attracted 180 entries from companies in Hong Kong, China, Japan, India, Taiwan, Malaysia, Thailand, Sri Lanka, the Middle East, Indonesia, Singapore and the Philippines. These companies are a virtual crème-de-la-crème of listed companies in Asia, and are among the top listed entities in their respective exchanges. The finalists at this awards ceremony included corporate giants such as Maybank Malaysia, YES Bank India, Airport Authority Hong Kong and Chungawa Telecom Taiwan.

Commercial Bank Head of Finance M.P. Dharmasiri (left) receives the award from David Vincent, Director South East Asia Climate Change and Energy Network, British High Commission Singapore

Besides its victory in the ‘Asia’s Best Integrated Report’ category, Commercial Bank was a finalist in the categories of Asia’s Best Workplace Reporting; Asia’s Best Community Reporting; Asia’s Best Stakeholder Reporting; and Asia’s Best CSR Communication within Annual Report.

“We are delighted to be recognised as a leader in Asia for sustainability disclosure,” Commercial Bank Managing Director/CEO Jegan Durairatnam said. “Comprehensively reporting on all elements that contribute to sustainability is a complex and time consuming task, but is becoming increasingly important to stakeholders. Being adjudged the Best Integrated Report in Asia is a tremendous tribute to the team responsible for producing our Annual Report.”

Commercial Bank’s award was presented to the bank’s Head of Finance M.P. Dharmasiri by David Vincent, Director South East Asia Climate Change and Energy Network, British High Commission Singapore, at the awards ceremony and gala dinner at Eden Hall, the British High Commissioner’s residence in Singapore, on 28 January.

Themed ‘Combanking’ the award-winning 2014 Annual Report of Commercial Bank is a 432-page volume. It received five awards – the Edmund J. Cooray Memorial Trophy for the Best Annual Report among banking institutions in Sri Lanka, the Gold award for Management Commentary, the Silver award for Corporate Governance Disclosure, the Bronze award for the Best Annual Report overall across all sectors and the Bronze for CSR Reporting at the 2015 Annual Report Awards of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

The Asia Sustainability Reporting Awards recognise and honour sustainability reporting leaders in Asia. The Awards celebrate best practices in sustainability reporting and communications.

Commenting on the awards program, CSR Works International Managing Director Rajesh Chhabara said: “In line with global trends, more and more companies in Asia are embarking on sustainability reporting. Our aim is to encourage and promote sustainability disclosure by honouring those who have demonstrated leadership in sustainability reporting.We want to create a platform to recognise the efforts of such companies. This is also intended to be a platform for showcasing best practices of companies in Asia, as well as for sharing knowledge and learning, discussion and addressing common challenges.”

The only Sri Lankan bank to be ranked among the Top 1000 banks of the world for five consecutive years, Commercial Bank operates a network of 249 branches and a network of 624ATMs in Sri Lanka. The bank was ranked the most valuable private sector brand in Sri Lanka in 2014 and has also won multiple awards as Sri Lanka’s best bank from a number of international publications over several years. The bank was adjudged one of Sri Lanka’s 10 best corporate citizens by the Ceylon Chamber of Commerce in 2013 and 2014.

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 18 branches and Myanmar, where it has a Representative Office in Yangon. In September 2015, the bank received regulatory approval for the establishment of a fully-fledged Tier I Bank in the Republic of Maldives.