Business
ComBank wins five awards at world’s “Oscars” for best annual reports
The 2022 Annual Report of the Commercial Bank of Ceylon has won five awards at the 2023 MerComm ARC Awards, the world’s largest annual report competition, widely considered the “Academy Awards of Annual Reports,” a bank news release said.
The Bank won Silver in the ‘Integrated AR & CSR: Non-Traditional Format’ category as well as Silver for ‘Cover Design’ in addition to two Bronze awards for ‘Interior Design’ and ‘Illustrations’ and an Honours Award for ‘Written Text.’
The ARC Awards competition is unique in that each annual report is judged against itself, based on its success in communicating its company’s story. Judging is based not on corporate profitability nor production, but on the values of creativity, clarity, effectiveness, and excellence as symbolised by the ARC Awards.
“Commercial Bank has always been committed to complete transparency and accountability, and our Annual Report is the primary and most authoritative source of information for all stakeholders,” the Bank’s Managing Director/CEO Mr Sanath Manatunge noted. “Every year, we look at best disclosure practices around the world to fine tune it further to provide a deep insight into governance and performance. Winning ARC awards consistently demonstrates the success of these efforts and is a tribute to the team behind all the hard work.”
Commercial Bank’s 2022 Annual Report titled ‘In Context, Weathering a perfect storm’ was its 54th annual report and presented 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 elaborated on how the Bank had kept faith in its proven prudence of strategy and adherence to a progressive drive towards enhancements in technology, customer convenience and operational efficiencies to take the Bank forward.
Entries for the ARC awards are evaluated three separate times during the preliminary rounds. The three sets of scores are then averaged into a single score for the individual entry. Annual reports scoring in the top 30 percent are awarded Honors, Bronze, Silver and Gold certificates of outstanding achievement. Some of the elements considered in the judging of the annual reports include: cover design, president’s letter, interior design, clarity of written text, presentation of corporate information, expression of financial data, and how well the spirit of the organisation is communicated.
The 2023 International ARC Awards presentation ceremony is to be held in New York later this year.
Commercial Bank’s annual reports have consistently been recognised with local and regional awards for many years. The Bank was awarded the Cyril Gardiner Memorial Trophy presented by CA Sri Lanka for Overall Excellence in Financial Reporting 10 times. The Bank has also won the Edmund J. Cooray Memorial Trophy for the Best Annual Report among Banking Institutions presented by CA Sri Lanka on 16 occasions.
Sri Lanka’s first 100% carbon neutral bank and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World, Commercial Bank operates a network of 271 branches and 957 automated machines in Sri Lanka and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 20 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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