CDB wins Silver in Overall Integrated Reporting Category at Annual Report Awards

Wednesday, 14 January 2015 01:09 - - {{hitsCtrl.values.hits}}

Citizens Development Business Finance PLC (CDB) won a Silver Award in the coveted Overall Integrated Reporting category at the 50th Annual Report Awards Competition, organised by the Institute of Chartered Accountants of Sri Lanka. CDB won the award for its Annual Report ‘The Game Plan’. The Annual Report Awards rewards organizations that promote transparency, accountability and good corporate governance.

CDB Managing Director and CEO Mahesh Nanayakkara receiving the award from the Chief Guest, former Central Bank Governor Ajith Nivard Cabraal Minister of Economic Development Basil Rajapaksa graced the occasion as Chief Guest. The event saw enthusiastic participation from over 1,000 guests hailing from top corporates. Over 100 organisations including leading blue chip companies competed for the coveted awards this year. “Our annual report outlines our vision for success. This award is another milestone in our journey towards achieving excellence through transparent, responsible corporate governance. We have clinched several awards and accolades on previous occasions for our superior reporting standards, including a Platinum Award at the LACP 2013 Vision Awards ceremony. We will continue to forge ahead with renewed commitment and resolve, chartering a course towards corporate excellence,” said Director/CFO Damith Tennakoon commenting on the prestigious award. In addition, he stated that winning a Silver Award was testament to the transparency and high quality of CDB’s reporting, even amidst fierce competition. The then Governor of the Central Bank Ajith Nivard Cabraal spoke at the event, noting that the competition to win at the Annual Report Awards has helped set the benchmark for financial reporting in Sri Lanka, ensuring that the country is aligned with global standards. Award-winners were selected after three separate stages of evaluation. The reports were initially awarded a technical marking, with the shortlisted reports being subjected to review by a panel of industry experts. CDB is established as a formidable leading player among the top Non Banking Financial Institutions (NBFIs) in the country, extending its services through a network of 59 outlets countrywide.