Commercial Bank Annual Report wins three top awards

The 2004 Annual Report of the Commercial Bank of Ceylon Ltd., Sri Lanka's benchmark private sector bank, won three top awards including the Overall Winner of the Best Annual Report for the fourth consecutive year at the recently concluded Annual Report Awards Competition organised by The Institute of Chartered Accountants of Sri Lanka (ICASL).

Commercial Bank, which has been rated the Best Bank in Sri Lanka by two leading international publications - Global Finance of New York and The Banker of London of several years, was also adjudged the Winner in the Banking Sector, for the fourth consecutive year, and also won the award for the Best Corporate Governance Disclosures.

Managing Director of Commercial Bank, Amitha Gooneratne said the Annual Report is the single most important document for a public listed company.

We are proud to have produced the Best Annual Report for the past four years, since contenders come from diverse sectors of business, he said.

He said as a part of its Good Corporate Governance practices, the Bank had carried out a systematic benchmarking exercise in 2003 to evaluate its practices and identify areas needing improvement and corrective action was taken where necessary.