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Wednesday, 27 July 2011






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Top Annual Reports worldwide:

National Savings Bank ranked fourth

The National Savings Bank annual report was ranked as the number four among top 100 annual reports worldwide across all categories in the world.

This was announced last night at the award presentation of Smart Media at Galadari.

National Savings Bank Chairman Pradeep Kariyawasam said that this award is a honour for the country and they were happy they could do that as a state bank.

“Being a state bank we wanted to think out of the box and break a myth,” he added. He said that they also wanted to move away from being a passive player and be a vibrant company.

Diesel and Motor Engineering annual report was ranked No 62 while Commercial Bank was placed at 91 in the worldwide category.

Central Bank Governor Ajith Nivard Cabraal said that with the over subscription of the recent Sovereign Bond and the end of the war, Sri Lanka is poised for an exciting journey. “We have a political system that encourages investment which helps the economy to surge ahead,” he added.

Smart Media Chairman Dr Vijith Kannangara, said that readers would like to see annual reports saying something useful and saying it in a brief and interesting manner.

Instead, annual reports today are getting thicker and thicker to a point where they aspire to be encyclopedias. Pardon me for saying this, but for all the flab, they hardly ever say anything useful. Even if they do, it’s completely buried in a mountain of disclosures. Companies today are simply stuck in a compliance mindset and are failing miserably to communicate,” he added.

“Awards are nice to get, but they are not the ultimate stakes that our clients and we play for,” he added.

The League of American Communications Professionals, established 10 years ago in USA is a forum that discusses ‘best in class’ practices while recognizing those who demonstrate exemplary communications capabilities. “The Vision Awards process of LACP recognises and rewards outstanding annual reporting from companies across the globe.

These include the Top Fortune 500 companies in the US, the FTSE 100 companies in UK, all the large companies in Continental Europe, the giants from China, Korea, Japan, Hong Kong and Singapore, and now, even the South Asian heavyweights,” he said.

Several Sri Lankan companies brought honour to the country by winning a number of awards including five Bronze Awards, four Silver Awards, four Gold Awards and three Platinum Awards in their respective sectors.

In addition these companies had clinched three Special Achievement Awards at an Asia Pacific regional level competition.



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