23 December 2024 12:50 am Views - 36
Commercial Bank Chairman Sharhan Muhseen and Managing Director/CEO Sanath Manatunge accept one of the four TAGS awards won by the bank
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.
“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.”
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.
Commercial Bank’s annual reports have consistently been recognised with local and regional awards for many years. The bank has been awarded the Cyril Gardiner Memorial Trophy presented by CA Sri Lanka for Overall Excellence in Financial Reporting 10 times and has also won the Edmund J. Cooray Memorial Trophy for the Best Annual Report among Banking Institutions presented by CA Sri Lanka on 17 occasions.