7 March 2017 12:00 am Views - 1858
National Development Bank PLC (NDB) released its annual report for the financial year 2016 (FY16) to the Colombo Stock Exchange (CSE) yesterday.
The report is a comprehensive account of how the bank performed during the year under review (2016) in both financial and non-financial aspects.
The report is also a clear reflection of what the bank aspires for the future under its new leadership at the helm. The essence of the report is encapsulated in its theme ‘Unlocking our potential to unleash YOURS’ and continues from the bank’s previous annual report (2015) themed YOURS, which was based on the bank’s tagline, ‘Our Commitment. Your Success’.
The story that unfolds in the 2016 report will help the readers understand how NDB reaches out to a wide mass of customers ranging from individuals, small-scale entrepreneurs to blue-chip corporates and how the bank has something on offer to empower each and every one of them to reach his or her true potential.
The readers will also learn of the strong market proposition that the bank enjoys as a full spectrum financial services provider, integrating both banking and financial solutions as well as capital market solutions through its group companies engaged in a host of capital market services.
The bank’s report is in full compliance with applicable regulatory disclosure requirements and is firmly based on the principles of clarity, transparency and consistency in reporting. This report is the fourth integrated annual report of the bank, which is a result of a journey that the bank embarked on in 2013. Since then, the bank has largely enhanced its reporting practices based on integrated reporting principles through internal and self-driven initiatives as well as external support.
The report is based on the concepts of capitals and is a clear depiction of how the bank generated value to a host of its stakeholders over the year. Sustainability reporting is based on Global Reporting Initiatives (GRI) Standards ‘In accordance’ – Core guideline publications. The contents of the report will be largely useful for a wide spectrum of annual report users comprising of investors, regulators, customers as well as researchers on corporate and sustainability reporting practices.
The report is available in print as well as in online versions. The PDF form and an interactive HTML version of the report are hosted on the bank’s corporate website www.ndbbank.com under Investor Relations/Reports section. The bank also released a video commentary of the newly-appointed Chief Executive Officer Dimantha Seneviratne to coincide with the release of the report to the CSE.
The CEO commented that the year gone by was one marked by many challenges, the learning of which will provide a very strong foundation for devising precise strategies for 2017 and beyond. The CEO’s commentary can be viewed on YouTube as well as in the bank’s corporate website as mentioned above.