LB Finance recognised both locally and internationally in 2023

LB Finance, one of the leading financial institutions in Sri Lanka, and its annual report won a plethora of awards in 2023, as the most awarded Finance Company in Sri Lanka. 

The company’s annual report won the Silver Award in the category ‘Best Annual Report by a Financial Services Company’ and the Merit Award in the ‘SAARC Anniversary Award for Corporate Governance’ category at the prestigious South Asian Best Presented Annual Report Awards (SAFA) held in India, while the company was adjudged the Best Finance Company in Sri Lanka at the TAGS Awards organised by CA Sri Lanka (Gold Award in the ‘Non-Bank Financial Institution’ category).

In addition, LB Finance’s annual report won the following two awards at the TAGS Awards: The Bronze award in the ‘Integrated Reporting’ category and the Bronze award in the ‘Digitally Transformative Reporting’ category. 

Additionally, LB Finance walked away with many awards at the CMA Excellence in Integrated Reporting Awards 2023, organised by the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka). The company was adjudged Overall First Runner Up, winning the Special Award for Best Disclosure on Capitals and the Best Integrated Report (Finance and Leasing Sector) award, as well as placing within the 10-Best Integrated Reports. 

Managing Director Sumith Adhihetty expressed his pride in the organisation’s staff: “Our team continues to exceed expectations, delivering excellence once again while upholding the values of responsible financial reporting and transparency.”

LB Finance also won the Silver Award at the International Conference on Sustainable & Digital Business (ICSDB) 2023. LB Finance was awarded the Silver Award for its innovative and digitally driven financial services platform, which was developed by the LB Centre for Innovation and Technology. The LB Centre for Innovation and Technology is an ISO 27001 certified unit that ensures the highest standards of information security and data protection. The centre also collaborates with various academic and industry partners to foster a culture of innovation and research.

SAFA is a network partner of International Federation of Accountants (IFAC) comprising of 11 accountancy bodies in South Asian region with around 500,000 members. SAFA has been organising the Best Presented Annual Report Awards since 1996 in various categories. In addition, SAFA has also initiated SAARC Anniversary Awards for Corporate Governance Disclosure since 2006 and Integrated Reporting Awards since 2015.

The TAGS Awards is the rebranding of the prestigious Annual Report Awards Competition by CA Sri Lanka. The term denotes Transparency, Accountability, Governance and Sustainability (TAGS), and the newly rebranded awards continue the focus on the core values of the competition and work to promote increased transparency by the companies producing annual reports.

The CMA Excellence in Integrated Reporting Awards competition is organised annually by the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) which is the national professional management accounting institute in Sri Lanka incorporated by Act of Parliament No. 23 of 2009.

The ICSDB is an annual event organised by the SLIIT Business School, which aims to showcase the latest research and best practices in sustainable and digital business. The conference also features the ICSDB Excellence Awards, which recognise business firms that have made significant contributions to the field.