The Commercial Bank of Ceylon won three Golds and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2023 for the Bank’s 2022 Annual Report, excelling in key aspects recognised by the awards program which is dedicated to Transparency, Accountability, Governance, and Sustainability – TAGS.
The Bank was adjudged the best across all sectors for ‘Corporate Governance Disclosure’ and for Digitally Transformative Reporting’ taking two Golds in the main category awards, and won the Gold for the best annual report in the Banking sector, in addition to taking the Bronze for ‘Overall Excellence in Corporate Reporting.”
Commercial Bank Managing Director/CEO Sanath Manatunge said, “We are absolutely delighted to win these prestigious awards, which are a fitting reward for the tremendous effort made by our Annual Report team to meet the highest local and global standards in financial reporting.
“The TAGS awards are particularly important because of their focus on four of the most important pillars of disclosure. Transparency, Accountability, Governance, and Sustainability are embedded in the core values of the Bank and Commercial Bank places extra emphasis on these areas when producing its Annual Report,” he said.
CA Sri Lanka’s Annual Report Awards Competition, which commands a legacy of over 57 years, was reconceptualised and rebranded as TAGS Awards last year.
This year’s edition saw leading diversified conglomerates, sector-leading corporates, multinationals, SMEs and non-profit organisations 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 at the 2023 TAGS awards.
Titled ‘In Context, Weathering a perfect storm’ the Commercial Bank’s 2022 annual report is the Bank’s 54th annual report and presents comprehensive information on all aspects of performance and governance in the backdrop of a series of events of great adversity, which the Bank said had combined to unleash a perfect storm in Sri Lanka.
The report elaborates on how the Bank had kept faith in its proven prudence of strategy and adherence to a progressive drive towards enhancements in technology, customer-centric decision making and operational efficiencies to take the Bank forward during a challenging year.
