LB Finance betters rest in excellence in financial reporting

Friday, 6 December 2019 00:20 -     - {{hitsCtrl.values.hits}}


  • Ranks among top 3 this year 
  • Wins four other accolades at 55th CA Sri Lanka Annual Report Awards

Reinforcing the company’s prowess in financial disclosure, LB Finance was ranked among the top three brands in Sri Lanka for Excellence and bagged gold for the third consecutive year in the Finance and Leasing Companies segment of Annual Financial Reporting for 2019 at the 55th Annual Report Awards, conducted by the Institute of Chartered Accountants of Sri Lanka.

LB Finance clinched two coveted Gold Awards, a Silver Award and two Bronze Awards at the 55th CA Sri Lanka Annual Report Awards held at the Shangri-La Hotel, Colombo.

LB Finance won the Bronze Award in the Overall Excellence category for the first time, beating out many top nominees and won the Gold Award in the Finance and Leasing Companies category for the third consecutive year. 

The company also won the Gold Award for Integrated Reporting: Best Disclosure on Capital Management, the Overall Silver Award for Corporate Social Responsibility and Overall Bronze Award for Management Commentary. The Annual Report Awards competition organised by the Chartered Accountants of Sri Lanka (CA Sri Lanka) sets the benchmark in promoting transparency and accountability among organisations in Sri Lanka while honouring those firms for effectively communicating financial and non-financial information to stakeholders. 

“These five awards are a tribute to our consistent commitment to upholding responsible business practices, good governance, transparency and our dedication towards sustainable growth through serving the community. Winning the Overall Excellence Bronze and Sector Gold Award in particular is a great achievement. The CA Sri Lanka Annual Report Awards provides a robust platform for Sri Lankan organisations to pursue excellence in all areas of business operations and be committed to sustainability and transparency. Consequently, this recognition honours us and acts as a point of encouragement to continue our corporate quest to create value for all our stakeholders and the community through striving for sustainable growth,” stated LB Finance PLC Managing Director Sumith Adhihetty.

Over the years, the judging standards of the CA Sri Lanka Awards have reached a level where firm compliance with legislative requirements and accepted accounting best practices as well as consistency in reporting have become essential ingredients in effective financial disclosure. 

“In line with our vision to continuously improve business processes and increase transparency, we are planning to invest heavily in developing our technological capabilities. Developing more efficient and technology-based systems will enable us to tap into emerging markets in the ever-evolving financial service industry as well,” added Adhihetty.

LB Finance remains committed to understanding the financial requirements of the country and continues to raise the standards of the industry. Whether it is through the introduction of new products or finding innovative ways to present the annual reports, LB Finance believes in going the extra mile. 

The video format of the annual report was one such innovation for this year. The company has been well-suited to understand the pulse of the people and to forecast where the country heads with its trusted history of 49 years. Innovations, flexibility and care for its services are the chief aspects that elevate the company to greater heights.