ComBank wins double Gold at CA Sri Lanka TAGS Awards

The Commercial Bank of Ceylon won two Golds, a Silver and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2024, reaffirming the Bank’s prowess in financial reporting through its Annual Report for 2023.

Excelling in the four pillars recognised by the awards programme Transparency, Accountability, Governance and Sustainability, Commercial Bank was presented the Gold for ‘Corporate Governance Disclosure’ in the Financial Services sector and the Gold for the Best Annual Report among the private sector banks. The Bank also won the Silver for ‘Digitally Transformative Reporting’ across all sectors, as well as the overall Bronze award for Excellence in Corporate Reporting.

“Our consistent recognition at the CA Sri Lanka TAGS awards is extremely relevant to all stakeholders, because it ratifiesthe Bank’s commitment to Transparency, Accountability, Governance, and Sustainability in its financial reporting,” Commercial Bank Managing Director/CEO Sanath Manatunge said. “Every year, our business grows exponentially in size and complexity as global standards change and customer expectations rise. This requires changes and additions to the content we provide in our Annual Reports. These prestigious awards are anappropriatetributeto theprofessionalism and passion of our Annual Report team to ensure we always meet the highest local and global standards in financial reporting.”

CA Sri Lanka’s Annual Report Awards Competition has been in existence for 58 years and was rebranded as TAGS Awards in 2022. The 2024 awards saw leading diversified conglomerates, sector-leading corporates, multinationals, SMEs and non-profit organizations being recognised for their commitment to producing outstanding annual corporate reportsthat go beyond meeting regulatory requirements and also contribute to the broader goals of fostering trust, ethical conduct and environmental stewardship.

Titled ‘In Context, Navigating storms together with conviction, courage and empathy’ the Commercial Bank’s 55thannual report presents comprehensive information on all aspects of performance and governance in respect of 2023. “This report effectively communicates the Bank’s efforts to create value for all its stakeholders across the short, medium and long-term though its business model, and identifies the emerging developments and trends that are likely to impact the business model and the value creating process,” the Bank said in the report’s preamble.

Source:Daily News