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Zcrds7bwnaxnnr6retzcgvpz This paradox in airline jargon truly describes the year Contents gone by for Seylan Bank. In a year of challenge for the Bank and the industry, the saying illustrates the premise of opportunity that lies within challenge. 1 About 2 About Seylan The Bank dug deep, propelled by the strength this Report of its core values and ethos to remain strong and Financial Our Value Annual Report 2019 4 Highlights 6 Creation Strategy Headwinds resilient for the years ahead. 6... Letter from the Chairman 8... Letter from the Director/CEO Seylan Bank PLC Seylan Bank PLC Events Our Value 11 of the Year 12 Creation Model 14... How We Create Value 15... Why We Create Value 16... What Creates Value Headwinds Our Value Sustainable 23 Creation Story 76 Stewardship 23... The Context 76... Board of Directors 26... Financial Value Creation 80... Senior Management in 36... Sustainability Assurance Report 84... Corporate Governance Tailwinds 38... Informed Investors 123... Risk Management 42... Satised Customers 50... Motivated Employees 61... Trusted Partners 64... Responsible Corporate Citizenship 70... Environmental Stewardhip Annual Report 2019 Sustainable Annexes 148 Results 245 149... Financial Calendar 246... Ten Years at a Glance 150... Statement of Directors' Responsibility 247... Summary of Performance Indicators for Financial Reporting 248... Statement of Comprehensive Income in USD 151... Chief Executive Ofcer's and Chief 249... Statement of Financial Position in USD Financial Ofcer's responsibility Statement 250... Investor Information 152... Independent Auditors’ Report 254... Seylan Bank - Debentures 155... Income Statement 255... Branch and ATM Network 156... Statement of Prot or Loss and Other Comprehensive Income 256... Geographical Analysis 157... Statement of Financial Position 257... GRI Content Index 158... Statement of Changes in Equity 260... Alphabetical Index 162... Cash Flow Statement 261... Glossary 164... Notes to the Financial Statements 264... Sinhala Translation of Chairman’s Letter 265... Tamil Translation of Chairman’s Letter 266... Circular to Shareholders Seylan Bank PLC 268... Notice of Meeting Seylan Towers, No. 90, Galle Road, Colombo 03, Sri Lanka. in 270... Corporate Information T: +94 11 245 6000 F: +94 11 245 6456 E: [email protected] W: www.seylan.lk Enclosures Form of Proxy SWIFT: SEYBLKLX Investor Feedback Form This paradox in airline jargon truly describes the year Contents gone by for Seylan Bank. In a year of challenge for the Bank and the industry, the saying illustrates the premise of opportunity that lies within challenge. 1 About 2 About Seylan The Bank dug deep, propelled by the strength this Report of its core values and ethos to remain strong and Financial Our Value Annual Report 2019 4 Highlights 6 Creation Strategy Headwinds resilient for the years ahead. 6... Letter from the Chairman 8... Letter from the Director/CEO Seylan Bank PLC Seylan Bank PLC Events Our Value 11 of the Year 12 Creation Model 14... How We Create Value 15... Why We Create Value 16... What Creates Value Headwinds Our Value Sustainable 23 Creation Story 76 Stewardship 23... The Context 76... Board of Directors 26... Financial Value Creation 80... Senior Management in 36... Sustainability Assurance Report 84... Corporate Governance Tailwinds 38... Informed Investors 123... Risk Management 42... Satised Customers 50... Motivated Employees 61... Trusted Partners 64... Responsible Corporate Citizenship 70... Environmental Stewardhip Annual Report 2019 Sustainable Annexes 148 Results 245 149... Financial Calendar 246... Ten Years at a Glance 150... Statement of Directors' Responsibility 247... Summary of Performance Indicators for Financial Reporting 248... Statement of Comprehensive Income in USD 151... Chief Executive Ofcer's and Chief 249... Statement of Financial Position in USD Financial Ofcer's responsibility Statement 250... Investor Information 152... Independent Auditors’ Report 254... Seylan Bank - Debentures 155... Income Statement 255... Branch and ATM Network 156... Statement of Prot or Loss and Other Comprehensive Income 256... Geographical Analysis 157... Statement of Financial Position 257... GRI Content Index 158... Statement of Changes in Equity 260... Alphabetical Index 162... Cash Flow Statement 261... Glossary 164... Notes to the Financial Statements 264... Sinhala Translation of Chairman’s Letter 265... Tamil Translation of Chairman’s Letter 266... Circular to Shareholders Seylan Bank PLC 268... Notice of Meeting Seylan Towers, No. 90, Galle Road, Colombo 03, Sri Lanka. in 270... Corporate Information T: +94 11 245 6000 F: +94 11 245 6456 E: [email protected] W: www.seylan.lk Enclosures Form of Proxy SWIFT: SEYBLKLX Investor Feedback Form Seylan Bank PLC Annual Report 2019 1 About this Report Forward looking narrative is based on the Global Reporting Initiative There are no significant changes/ (GRI) G4 and is prepared in accordance restatements from the previous The Integrated Annual Report 2019 with “core” criteria. reporting periods. provides a concise description of the activities and related data of the Bank during the year. It presents a transparent Limitations and boundary Independent assurance view of the financial soundness and This Report mainly addresses sustainability The Bank’s policy identifies the need sustainability of its operations. The impacts, opportunities and risks arising to obtain an independent assessment “Headwinds in Tailwinds” theme of this from the Bank’s activities in the financial and assurance of its sustainability Report reflects the resilience of the Bank services sector. Consequently, some of the report. Consequently, the Bank engaged in being able to rise above the challenges GRI indicators may not be applicable to Messrs KPMG to provide that appropriate of the year and focus their energies on the its operations. assurance. Their Sustainability Assurance opportunities offered. Report appears on pages 36 and 37 in The content of this Report does not cover this Annual Report. The Bank’s underlying business model the activities of its subsidiary, Seylan with its focus on sustainable development Developments PLC, which produces its own This Integrated Report may be accessed goals underpins the contents of this Annual Report. through the Bank’s website at: Report. The continuing financial viability https://www.seylan.lk/annual-reports.html of the Bank is a fundamental tenet of the model and promotes the creation of value Content of the report Further, Messrs KPMG has given their for all its stakeholders. The Annual Report of Seylan Bank PLC opinion on the financials given on pages covers the 12 months period from 152 to 154 of this Annual Report. Compliance 1 January to 31 December 2019. This Report presents performance of the Bank Feedback may be directed to: Both financial and non-financial in a manner in which our stakeholders are information contained in this Report Ms Champika Dodanwela able to get a comprehensive view of the Chief Financial Officer comply with all applicable rules and Bank’s policies, operations and processes. Seylan Bank PLC guidelines stipulated by Transparency in reporting helps the Bank Tel: +94 11 245 6358 z the Central Bank of Sri Lanka, including identify and address its weaknesses, while Banking Act direction No. 01 of 2016 building on its strengths. We believe these Fax: +94 11 245 2612 and Circular No. 04 of 2018, to be the fundamental requirements to Email: [email protected] z the Companies Act No. 07 of 2007, having a sustainable operation. Navigation icons z Listing Rules of the Colombo Stock Exchange, As provided in the paragraphs 2.10 and 2.17 - 2.19 of the International <IR> Informed z the Inland Revenue Act, and all the Pages: 38 to 41 Framework organisations preparing an Investors directions issued by Inland Revenue integrated report are not required to Department, adopt the <IR> Framework categorisation z Satisfied the Institute of Chartered Accountants of capitals. Accordingly, we have Pages: 42 to 49 of Sri Lanka. categorised the capitals differently to Customers best describe our value creation process on pages 12 and 13. Motivated Sustainability reporting Pages: 50 to 60 framework Employees This is the Bank’s seventh Integrated Comparative information Report and incorporates material This Annual Report contains information Trusted Pages: 61 to 63 information on economic, social and relating to Key Performance Indicators Partners environmental performance of Seylan Bank and are presented with comparative data PLC in respect of the reporting period. relating to the most recent report for the Responsible In addition, this Report includes details year ended 31 December 2018. It also Corporate Pages: 64 to 69 of the Bank’s relationship with its key includes a summary of sustainability Citizenship stakeholders in creating sustainable value indices which have been developed by the Bank to monitor its performance in relation Environmental and these are described in the relevant Pages: 70 to 73 sustainability sections. The Bank’s Report to diverse stakeholder interests. stewardship 2 Seylan Bank PLC Annual Report 2019 About Seylan Seylan Bank PLC is a licensed commercial bank and a public limited liability company incorporated in Sri Lanka and listed on the Colombo Stock Exchange. The Bank commenced operations in 1987 and its tagline is “The Bank with a Heart”. Our business operations are structured around rendering the best services to our customers whilst enabling sound management practices that retain the transparency of our operations.
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