People’s Bank becomes only Sri Lankan bank to secure Gold at International ARC Awards 2023

From left: Chairman Sujeewa Rajapakse, Chief Executive Officer and General Manager Clive Fonseka, and Head of Finance Azzam A. Ahamat 

People’s Bank’s Annual Report 2022, titled ‘Creating a Legacy of Caring for Generations to Come’, has won five awards at the recently held International ARC Awards 2023. 

With a history spanning over 30 years, and an annual application pool of over 1,600 applications from over 90 countries, the ARC Awards are widely known as the Oscars for Annual Reports by the international financial community.

The accolades received by the Bank were across several categories and, most notably, it was the only Licensed Bank from Sri Lanka to win a gold at this year’s event. 

Commenting on the award, Peoples Bank’s Chairman Sujeewa Rajapakse said that the awards are a testament to the Bank's remarkable ability to seamlessly merge financial transparency with creative storytelling.  “This annual report goes beyond figures, encapsulating the Bank's strategic direction, accomplishments, and dedication to stakeholders in a captivating narrative covering both quantitative and qualitative aspects of its business. Over the last several years, the Bank has repeatedly been recognised for adopting and maintaining the highest international standards in corporate reporting via its annual reports, which have won many prestigious awards both locally and internationally,” he added.

CEO  and General Manager Clive Fonseka on the recognition said:  “We are tremendously proud to be the only Sri Lankan Bank to secure a Gold across any category at this year’s event. This accomplishment testifies to our continuing pursuit of excellence in fostering open and transparent communication with all our stakeholders. The ARC Awards represent the pinnacle of recognition for exceptional achievements in corporate communications, annual reports, and investor relations materials. This year's event, in particular, saw an unparalleled level of competition, with submissions from many banking institutions globally. The recognition strengthens our resolve to keep pushing the boundaries of excellence and performance in all aspects of our business operations” 

Bank’s Head of Finance Azzam A. Ahamat expressing said: “The recognition is another feather in our journey of setting benchmarks in the space of integrated reporting. It attests to the Bank's success in providing financial and qualitative insight on a 360-degree basis and in a broad macro-context. Our Integrated Annual Report 2022 ultimately tells our story of struggle and triumph - in a year of unprecedented challenges and change – to support both the country and all the Bank’s stakeholders in their time of severe distress. Additionally, in line with the need to consider sustainability in all its aspects, an increasing emphasis was placed on Environmental, Social, and Governance factors. I thank all our stakeholders for their support in the most trying of circumstances”

People’s Bank possesses 745 outlets and 290 Self Banking Units across the country serving over 14.7 million customers. The Bank is currently the country’s second-largest financial services provider with close to Rs. 3 trillion in consolidated assets and Rs. 2.5 trillion in consolidated deposits.