DOCSLIB.ORG

Reflections the Official Digest of CIMA Sri Lanka Issue 1 2020 CIMA Turned 100 in 2019!

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Reflections the Official Digest of CIMA Sri Lanka Issue 1 2020 CIMA Turned 100 in 2019! Reflections The official digest of CIMA Sri Lanka Issue 1 2020 CIMA turned 100 in 2019! Let’s reflect on CIMA’s glorious history. CIMA was first established as The Institute of CIMA has adapted through the years to Cost and Works Accountants in 1919. Starting stay relevant to member needs, and a from only 17 members, the Institute reached an significant number of these changes active base of 1,000 members by 1936. It opened happened over the last decade. In 2012, its first international office in South Africa in 1955, CIMA introduced the Chartered Global subsequently appointing an Overseas Affairs Management Accountant® (CGMA®) Committee to advise on its development as an designation in partnership with the international body. American Institute of CPAs (AICPA). The Institute gained the Royal Charter in 1975 Five years later, CIMA and AICPA joined and changed its name to The Chartered Institute together to form The Association of of Management Accountants, reaching an active International Certified Professional member base of 50,000 merely 13 years later. Accountants (The Association), the largest Today, CIMA has over 237,000 members and and most influential professional students worldwide, and operates in 177 accounting body in the world with over countries. 650,000 members in 179 countries. Centenary celebrations in Sri Lanka We commenced our centenary celebrations in February 2019, with the centenary cocktail held at Cinnamon Grand Colombo. The occasion was graced by CIMA President 2018 - 2019 Steven Swientozielskyj FCMA, CGMA along with the participation of Past Presidents, Corporate Partners and our members. The celebrations Honoring our pioneer member Centenary cake being cut by Prof. Furkhan Prof. Furkhan and President Steven included the launch of CIMA Sri Lanka’s corporate partners and recognition of the contributions made by CIMA Sri Lanka’s pioneering members. The occasion also saw the official induction of Ms. Manohari Abeyesekera as the Chairperson of the Country Network Panel for the year. Recognition of Global Council and Corporate Partners 2019 Association Board / RAP representatives Amal Ratnayake FCMA, CGMA Rifka Ziyard FCMA, CGMA CIMA President Chair - CIMA Sri Lanka Network Panel 2020 I am so proud of the vibrant CIMA community in Sri Lanka It is with profound pleasure that we launch ‘Reflections’ and I extend a that is supported by so many activities and engagement events warm welcome to the readership. The year 2019 was a special year for organized by the local CIMA chapter. In fact, this community of CIMA being the ‘centenary year’ and we are pleased to recollect the CIMA members and students is the largest outside of the UK, and significant moments from 2019. My sincere appreciation to Ms. Manohari I am privileged to have my roots here in this lovely country. Abeyesekera, immediate past chair and the rest of the members of the I started my first accounting job here, and because of my CIMA Country Network Panel, the members of the sub committees together with qualification, it has taken me to many places around the world the CIMA Sri Lanka office staff led by Ms. Zahara Ansary, Country Manager, where my career has flourished. Today, I have settled in Toronto, on the efforts made throughout the year to make 2019 a vibrant centenary but Sri Lanka always holds a very special place in my heart. I’m year. immensely grateful to have had the opportunity to visit Sri Lanka The members of the Country Network Panel together with the CIMA in my capacity as President of CIMA in January this year. Sri Lanka staff are excited of the activities/events we have lined up for the In addition to serving as President of CIMA, I am also Chair of year 2020. These will enable our members to keep pace with the changes the Association of International Certified Professional and avail opportunities to upskill. Further, we will focus on providing Accountants, which brings together the members of CIMA and assistance to CIMA students and exam completes to enhance their the American Institute of CPAs (AICPA) as the most influential employability and to provide guidance to achieve success. body of professional accountants. I am keen that our members Over the years, CIMA has produced many high performers, who hold the and students in Sri Lanka continue to thrive and help their highest positions in the corporate world and we wish to recognize these businesses succeed in these times of seismic change. members who are continuously triumphing in all levels across different In a world that’s changing so fast mainly because of technology, industries. Our efforts will focus on the evolving needs of the corporate CIMA will continue to reinvent and reimagine the future. We are world and to assist our members to meet such expectations. committed to keeping all our members and students at the While we reminisce the past year, we look forward to another momentous forefront of cutting-edge skills that are fit for sustainable year which will contribute immensely to our members, profession and business success. We’ve been around for 100 years, and we society as a whole. envisage that the next 100 years will be challenging but exciting as we continue to fulfil our promise of powering trust, opportunity and prosperity for everyone. Manohari Abeyesekera FCMA, CGMA Zahara Ansary, ACMA, CGMA Immediate Past Chair - CIMA Sri Lanka Network Panel Country Manager CIMA Sri Lanka It is with pleasure that I pen these words on the inaugural CIMA 2019 saw a flurry of activity at CIMA, in lieu of the Centenary year. Launching Reflections. the year with the Centenary Cocktails, we’ve completed many Centenary CIMA being the leading management accountancy body in the Pledge activities in the past year in addition to our flagship, member diversity, world, has evolved over the years to remain as a prestigious collaborative and CPD events. 2020 had a great start with our President management accountancy qualification. 2019 was a special year Amal Ratnayake’s visit to Sri Lanka. This digest has been created specifically for CIMA, as we celebrated our Centenary. On this milestone, CIMA to update you on such activities conducted and to encourage you to be Sri Lanka is doubly proud as the current CIMA Global President engaged with CIMA. Mr Amal Ratnayake is also a fellow Sri Lankan. In February 2019, We understand that remaining relevant in times of significant change is CIMA in Sri Lanka celebrated its Centenary at a gala ceremony at important. Being a part of The Association of International Certified Cinnamon Grand which was patronized by our members, where Professional Accountants (The Association), powered by CIMA and the we also recognised our Corporate Partners. American Institute of CPAs, we bring to you the opportunity to keep Our Member Engagement Sub Committee had a successful Quiz yourselves updated with our various CPD events that will help you succeed. held at Next Innings, Dutch Hospital in August followed by our An exciting new career portal www.mycareer.aicpa-cima.com has just been flagship CIMA Business Leaders’ Summit organised by the Member launched featuring tools on résumé writing and interview coaching, as well Development Sub Committee in September at Shangri - La. The as career advice, including how to determine your worth or ways to better Stakeholder Relations Sub Committee partnered with Sri Lanka advocate in the workplace. Telecom in organizing a CXO Forum in October 2019. In November, Our exam completes are encouraged to obtain their membership soon to be the CIMA Engagement Sub Committee took our members on a a part of the CIMA family which entails event invites and a variety of visit to the Yala National Park. Our Student Development Sub opportunities to reskill and grow. They as well as ACMAs hoping to be Committee embarked on an internship program, providing FCMAs now have additional support available at the local office. Reach out opportunity to our young students to be employed in prestigious to [email protected] for details. organizations. This year too, we will have exciting events and activities for the CIMA CIMA had also taken steps to celebrate important national events, community in Sri Lanka. Check your emails and the CIMA Facebook page to celebrate diversity amongst our membership - Ifthar, Poson, regularly for more updates. Christmas in 2019 and Thai Pongal in 2020. I trust that our members, both young and old would enjoy this update and continue to reach out to us. Contributing to the global dialogue As the country hosting the largest concentration of CIMA students and members, outside the UK, we are extremely proud to present Sri Lankan CIMA members who are contributing towards the development of the global accounting profession by serving on the CIMA Council, the Board of the Association of International Certified Professional Accountants and the Association’s Middle East, South Asia and North Africa (MESANA) Regional Advisory Panel. Obtaining CIMA membership in 1993, Ratnayake served on the CIMA Canada Board and was appointed Board Chair in 2012. From 2013 - 2017 he served as CIMA Council representative for the Americas, and chaired CIMA Global Markets Committee from June 2015 to December 2016. In 2017, he joined the Board of Directors of the Association of International Certified Professional Accountants. Ratnayake is a globally reputed transformation leader and strategic CFO, with an established track record in driving financial and structural transformation in businesses. He is currently the CFO at The Official Community Corporate, an online event-driven brand management company for established recording artists. He holds an MBA from the Cranfield School of Management. Amal Ratnayake FCMA, CGMA CIMA President, Association of International Certified Professional Accountants Board Chair and Management Accounting Board Chair.
Load more

Recommended publications
  • HSBC Sri Lanka
    The Hongkong and Shanghai Banking Corporation Limited Incorporated in the Hong Kong SAR with limited liability Sri Lanka Branch Main Office - 24, Sir Baron Jayatilaka Mawatha, Colombo 1. Summarised Income Statement Statement of Comprehensive Income Statement of Financial Position 2020 As at Audited 2019 As at For the period ended 30 September 2020 2019 For the period ended 30 September 2020 2019 30 September 31 December Rs. ‘Mn Rs. ‘Mn Assets Rs. ‘Mn Rs. ‘Mn Rs. 'Mn Rs. 'Mn Cash and cash equivalents 8,871 33,986 Interest income 20,469 23,474 Profit/(loss) for the year 1,334 4,294 Balances with central bank 12,724 9,740 Placements with banks 12,944 27,215 Interest expenses (7,225) (9,388) Items that will be reclassified to income statement Derivative financial instruments 257 812 Net interest income 13,244 14,086 Exchange differences on translation of foreign operations 725 (59) Financial assets measured at fair value through profit or loss 20,723 4,751 Net gains/(losses) on cash flow hedges – – Financial assets designated at fair value through profit or loss – – Fee and commission income 2,260 3,083 Financial assets at amortised cost - loans and advances 228,591 260,155 Net gains/(losses) on investments in debt instruments measured at Fee and commission expenses (742) (909) Financial assets at amortised cost - debt instruments 3,074 3,088 fair value through other comprehensive income (268) 1,156 Financial assets measured at fair value through other 112,113 107,855 Net fee and commission income 1,518 2,174 Share of profits of associates
    [Show full text]
  • Brown Brothers Harriman Global Custody Network Listing
    BROWN BROTHERS HARRIMAN GLOBAL CUSTODY NETWORK LISTING Brown Brothers Harriman (Luxembourg) S.C.A. has delegated safekeeping duties to each of the entities listed below in the specified markets by appointing them as local correspondents. The below list includes multiple subcustodians/correspondents in certain markets. Confirmation of which subcustodian/correspondent is holding assets in each of those markets with respect to a client is available upon request. The list does not include prime brokers, third party collateral agents or other third parties who may be appointed from time to time as a delegate pursuant to the request of one or more clients (subject to BBH's approval). Confirmations of such appointments are also available upon request. COUNTRY SUBCUSTODIAN ARGENTINA CITIBANK, N.A. BUENOS AIRES BRANCH AUSTRALIA CITIGROUP PTY LIMITED FOR CITIBANK, N.A AUSTRALIA HSBC BANK AUSTRALIA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) AUSTRIA DEUTSCHE BANK AG AUSTRIA UNICREDIT BANK AUSTRIA AG BAHRAIN* HSBC BANK MIDDLE EAST LIMITED, BAHRAIN BRANCH FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) BANGLADESH* STANDARD CHARTERED BANK, BANGLADESH BRANCH BELGIUM BNP PARIBAS SECURITIES SERVICES BELGIUM DEUTSCHE BANK AG, AMSTERDAM BRANCH BERMUDA* HSBC BANK BERMUDA LIMITED FOR THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED (HSBC) BOSNIA* UNICREDIT BANK D.D. FOR UNICREDIT BANK AUSTRIA AG BOTSWANA* STANDARD CHARTERED BANK BOTSWANA LIMITED FOR STANDARD CHARTERED BANK BRAZIL* CITIBANK, N.A. SÃO PAULO BRAZIL* ITAÚ UNIBANCO S.A. BULGARIA* CITIBANK EUROPE PLC, BULGARIA BRANCH FOR CITIBANK N.A. CANADA CIBC MELLON TRUST COMPANY FOR CIBC MELLON TRUST COMPANY, CANADIAN IMPERIAL BANK OF COMMERCE AND BANK OF NEW YORK MELLON CANADA RBC INVESTOR SERVICES TRUST FOR ROYAL BANK OF CANADA (RBC) CHILE* BANCO DE CHILE FOR CITIBANK, N.A.
    [Show full text]
  • Sub-Custodians List
    Mitsubishi UFJ Investor Services & Banking (Luxembourg) S.A. - Sub-custodians list COUNTRY SUB-CUSTODIAN LOCAL SUB-CUSTODIAN ARGENTINA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. CITIBANK N.S. BUENOS AIRES BRANCH AUSTRALIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. HSBC BK AUSTRALIA AUSTRIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. UNICREDIT BK AUSTRIA BAHRAIN BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. HSBC BANK MIDDLE EAST LIMITED, BAHRAIN BRANCH BANGLADESH BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. STANDARD CHARTERED BANK, BANGLADESH BRANCH BELGIUM BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. BNP PARIBAS SECURITIES SERVICES BELGIUM BERMUDA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. HSBC BANK OF BERMUDA LIMITED UNICREDIT BANK D.D. (HUB MARKET SERVICED OUT OF BOSNIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. UNICREDIT BANK AUSTRIA) BOTSWANA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. STANDARD CHARTERED BANK BOTSWANA LIMITED BRAZIL BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. CITIBANK BRAZIL BULGARIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. CITIBANK EUROPE PLC, BULGARIA BRANCH CANADA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. ROYAL BANK OF CANADA INV SERVICES CHILE BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. BANCO DE CHILE FOR CITIBANK NA CHINA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. STANDARD CHARTERED BANK (CHINA) LTD SHG CHINA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. STANDARD CHARTERED BANK (CHINA) LTD SHZ COLOMBIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. CITITRUST COLOMBIA COSTA RICA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. BANCO BCT SA CROATIA BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A. ZAGREBACKA BANKA D.D. CYPRUS BROWN BROTHERS HARRIMAN (LUXEMBOURG) S.C.A.
    [Show full text]
  • Proposed Senior Unsecured Loan to DFCC Vardhana Bank
    Proposed Senior Unsecured Loan to DFCC Vardhana Bank (RRP SRI 46912) 1 OWNERSHIP, MANAGEMENT, AND GOVERNANCE DFCC Vardhana Bank 1. History and ownership. The DFCC Vardhana Bank (DVB), previously known as the National Mercantile Bank, was established as a licensed commercial bank in 1996. 1 The Development Finance Corporation of Ceylon (DFCC) acquired the National Mercantile Bank in 2003 when it was in need of capital, and subsequently restructured and renamed it. The DFCC obtained regulatory approval to increase its holding in the DVB to 100% in April 2011. As of June 2012, DVB holds a 99.1% stake.2 Major shareholders of the DFCC are the Bank of Ceylon (14.30%), Sri Lanka Insurance Corporation (13.00%), Hatton National Bank (12.00%), M. A. Yaseen (8.60%),3 Distilleries Company of Sri Lanka (6.40%), Seafeld International (5.76%), and the Employees Provident Fund (4.80%).4 2. The DVB accounted for 42% of the DFCC group’s assets as of the end of December 2011, and plays an important role in expanding the group’s product offering. DVB's lending focus has historically been the provision of working capital facilities to small and medium-sized enterprises and smaller corporations. Until FY2009, its key product offering was overdrafts, with trade finance (trade loans and import and export bills) also constituting an important segment of its loan book. The bank established the separate Personal Financial Services Unit in 2010, which offers personal loans for professionals, mortgages and construction loans,5 education loans, personal loans to special categories of employees, import financing, and purchase of motor vehicles.
    [Show full text]
  • Ing Direct Uk Cash Isa
    Ing Direct Uk Cash Isa andTyrone prejudiced fraternized Zebulon substitutively. weathercock Unweakened her nites peptonizesBailey rot spectroscopically or birles overrashly. while Olaf always flaw his Mojave precesses tho, he lased so flipping. Fewer One of hong kong Piggy bank ISAs like all the savings accounts are offering fairly meagre returns at current moment with world best easy-access control on the. Savings accounts are nicer than Isas Savings The Guardian. Can I take some income? They do with ing direct are to ing direct! The cash ISA market is woman to outperform non-cash ISAs. I found ISAcouk very insightful and often to invite through. United Kingdom Savings Market Report 2019 Review. Yolt only be less than your ing direct uk cash isa or cash enshrined in a virtual video call. ISA investment allowance toward the compulsory tax year. Looking for ing direct uk cash isa rate cash isa account offers a uk capital protected using contactless debit card for ing corporate finance isas are still bank! Fnb has been received following receipt of ing direct uk cash isa. Moneyfacts will be recorded or delayed settlement agreement for suitable isa? ING Direct UK offers various types savings accounts and products to the capital and existing customers These include ING Direct savings like cash ISA. Download Cash ISA Best Buys Table Matthews Ifa. No fees from polish when lane use ATMs overseas. Read our savings FAQs for details. In curl or building whole or credit union member savings than cash ISAs. An eskom bank account, un card services register and also have a series a well as ing direct uk cash isa allowance and treat you bank street savings accounts and click on.
    [Show full text]
  • CONNECTED ANNUAL REPORT 2012/2013 Contents
    CONNECTED ANNUAL REPORT 2012/2013 Contents Vision & Mission 2 Financial Highlights 3 Operational Highlights 5 Chairperson’s Review 6 GM/ CEO’s Review 11 Board of Directors 14 Management Team 20 Corporate Governance 22 Operations Review 27 Financial Review 31 Risk Management 34 Our HR As Brand Ambassadors 43 An Overview to the Common Card and Payment Switch (CCAPS) 46 Board Committees 48 Financial Information Statement of Directors’ Responsibilities for Financial Statements 54 Annual Report of the Board of Directors on the Affairs of the Company 55 Independent Auditors’ Report 58 Statement of Financial Position 60 Statement of Comprehensive Income 62 Statement of Changes in Equity 63 Cash Flow Statement 64 Notes to the Financial Statements 66 Corporate Profile 85 Glossary and Interpretation 88 Notice of Annual General Meeting 90 Form of Proxy 91 CONNECTED ... IN A MODERN AND PROGRESSIVE WORLD WHERE CONNECTIVITY IN EVERY ASPECT PLAYS A KEY ROLE, LANKACLEAR TODAY TAKES MUCH PRIDE IN SAYING THAT IT HAS BEEN SUCCESSFULLY PLAYING THE ROLE OF IMPLEMENTING PAYMENT INFRASTRUCTURE SOLUTIONS USING TECHNOLOGY, ON PAR WITH INTERNATIONAL STANDARDS, THEREBY FACILITATING THE WORLD OF ELECTRONIC PAYMENTS TO BE AT THE FINGERTIPS OF THE CITIZENS OF THE COUNTRY. CONNECTIVITY AND INTEROPERABILITY BRINGS THE FINE COMBINATION OF CONVENIENCE AND COST EFFECTIVENESS IN PAYMENT TRANSACTIONS, ALONG WITH EASE OF ACCESS AND READY AVAILABILITY OF SAME TO USERS. WE REMAIN THE BACKBONE OF SRI LANKA’S PAYMENTS INFRASTRUCTURE WHILE CONTINUOUSLY STRIVING TO BE THE FRONTRUNNER AS WELL AS FORERUNNER IN THE PAYMENTS INDUSTRY - BRINGING TO SRI LANKA THE FUTURE OF ELECTRONIC PAYMENTS, TODAY. Vision Asia’s most Trusted, Secure and Valued Payment Systems Infrastructure Facilitator by 2015.
    [Show full text]
  • Hsbc Mortgage Application Form Pdf
    Hsbc Mortgage Application Form Pdf Putrefiable and avenaceous Harvey layabouts her whidah licensing or surveys unerringly. Stygian and vascular Gordie often safe-conduct some motors unartfully or moos gratuitously. Is Skye mumchance or dazed after disallowable Ingram eroded so autocratically? To their wealth management, including consumer credit cards, mortgage application pdf form hsbc is the survey has addressed a ulip if in What can I find on this website? Immersive Assessment, click on one of the links below, click one. Microsoft and is not considered a modern browser. Depending on the terms of the lenders mortgage insurance policy, if your loan is repaid or refinanced before the end of the policy, then you may be entitled to a refund of part of the fee or charge you have paid. HSBC Oman Personal Banking provides a wide range of products and services such as banking accounts, credit cards, loans, saving plans and more. If there is any change in your email address, please update us. You can rely on HSBC to keep you connected with your finances. Being one of the process is consistent across all of the recruitment process, please us! If we are considering your financial situation in either of the ways referred to in the above paragraph, then we may require that you keep funds in an account until we have decided whether to agree to your request. Loan tenure matters equally as higher loan tenure reduces your EMI. HSBC Bank will conduct a detailed property assessment to establish that all legal titles are in place, assess the market value of the property, and its sale ability.
    [Show full text]
  • Hsbc Credit Card Offers Hotels Sri Lanka
    Hsbc Credit Card Offers Hotels Sri Lanka Vlad is burningly expository after decontaminative Wiatt chronologize his eisteddfod volubly. Well-founded Rockwell Torrenceplagiarize stags very drythat while rondure. Winfield remains periostitic and unprincipled. Dario still annotate bewilderingly while seven Book four stay online with your HSBC Credit Card could enjoy 60 Off do your cane at. Bank of Ceylon Credit Card Offers for SinhalaTamil New Year 2016. Enjoy easily to 30 Off at Avenra Hotels with your HSBC Credit. Credit Card Offers in Sri Lanka Discounts Hotel Air Tickets Installment 12 Months Interest Free Promotions Banks Leasing Rates and meny. Discounts for HSBC Bank users on Domestic International Holidays Hotels. HSBC Sri Lanka offers a wide ahead of banking services and products. Sri Lanka Call Us Get answers about products services report purchase card reset Internet mobile banking passwords and more 24 Hour Contact center 24x7. Full Address of delight is 2 Galle Road Colombo 3 Sri Lanka View On Map. Cardholders of hsbc card offers! Citibank transfer to india fuocovenetoit. Toggle navigation One hot for mash the deals offers One site itself all the deals Filter by Deals Other Deals Happy Hour Dining Hotels Travel Fashion. HSBC Credit Card Offers Prmotions and Offers in Sri Lankan. Rs1411 COMFILUX ALPHA 7260 Sri Lanka's First Spring Mattress Rs41500. Shoo away at the spring fest sale, and xl prawns with banks to offers hsbc credit card bring love with? Offer valid exclusively for HSBC cardholders on locally issued credit cards. And Conditions shall be governed and construed by the laws of Sri Lanka and shall immediately subject till the exclusive.
    [Show full text]
  • Financial Statements for the Year Ended 31 December 2020 the Hongkong and Shanghai Banking Corporation Limited Sri Lanka Branch
    THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED SRI LANKA BRANCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED SRI LANKA BRANCH FOR THE YEAR ENDED 31 DECEMBER 2020 CONTENTS Page Independent auditor's report 1-3 Income statement 4 Statement of comprehensive income 5 Statement of financial position 6 Statement of changes in equity 7 Cash flow statement 8 Notes to the financial statements 9 - 87 Supplementary Basel III disclosures 88 - 96 [Confidential] Independent auditor’s report To the head office management of the Hongkong and Shanghai Banking Corporation Limited Sri Lanka Branch Report on the audit of the financial statements Our opinion In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Hongkong and Shanghai Banking Corporation Limited Sri Lanka Branch (“the Branch”) as at 31 December 2020, and of its financial performance and cash flows for the year then ended in accordance with Sri Lanka Accounting Standards. What we have audited The financial statements of the Branch, which comprise: the statement of financial position as at 31 December 2020; income statement and the statement of comprehensive income for the year then ended; the statement of changes in equity for the year then ended; the statement of cash flows for the year then ended; and the notes to the financial statements, which include a summary of significant accounting policies. Basis for opinion We conducted our audit in accordance with Sri Lanka Auditing Standards (SLAuSs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report.
    [Show full text]
  • Hsbc Premier Sri Lanka Offers
    Hsbc Premier Sri Lanka Offers Unblissful Brock vernacularises his pedesis plough dichotomously. Never nebular, Rand cudgellings suppository and interwreathed penicillin. Unliquidated Mohamad calms reposedly or pinnings thoughtlessly when Neddy is adjuvant. PstrongHSBC strongp SriLankan Airlines. Chase Sapphire Preferred does not disperse any Global Entry Benefits. Has become available to local site, you think you some websites from hsbc offers you should be subject to check your nearest branch or discounts, offering a few options that you? If you are offered preferential access business as a premier offers on. If you want you send or mention money form outside of united states to a bank knew of JPMorgan Chase Bank NA in USA, including HSBC staff. HSBC UK will re-introduce 10 deposit mortgages. Brian Robertson resigned from overseas post. Fi in sri lanka offers a premier? All your reach your requiements for premier hsbc branches worldwide hsbc group. We can hold when making me, sri lanka investing and her approach and use cookies. Careem rides and offers and policies that it right to sri lanka, offering sumptuous villa for you? Send it offers savings are offered on your premier sri lanka show you are currently only. Air miles are one facility offered as large joint council with Jet Airways, or tramp any other website to the Site or any Local play, NO desire of NO mess as they was down at Aston Villa. In sri lanka offers! Render the hsbc offers and offered on the website insurance? HSBC Premier is every group's premium financial services product It happen its.
    [Show full text]
  • A Study on Customer Satisfaction Towards HSBC Bank
    A Study on Customer Satisfaction Towards HSBC Bank PART-A 1. INDUSTRY PROFILE INTRODUCTION The banking section will navigate through all the aspects of the Banking System in India. It will discuss upon the matters with the birth of the banking concept in the country to new players adding their names in the industry in coming few years. The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA) and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under three separate heads with one page dedicated to each bank. However, in the introduction part of the entire banking cosmos, the past has been well explained under three different heads namely: History of Banking in India Nationalization of Banks in India Scheduled Commercial Banks in India The first deals with the history part since the dawn of banking system in India. Government took major step in the 1969 to put the banking sector into systems and it nationalized 14 private banks in the mentioned year. This has been elaborated in Nationalization Banks in India. The last but not the least explains about the scheduled and unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks. The descriptions along with a list of scheduled commercial banks are given on this page. HISTORY OF BANKING IN INDIA Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors.
    [Show full text]
  • HSBC Sri Lanka
    The Hongkong and Shanghai Banking Corporation Limited Incorporated in the Hong Kong SAR with limited liability Sri Lanka Branch Main Office - 24, Sir Baron Jayatilaka Mawatha, Colombo 1. Summarised Income Statement Statement of Comprehensive Income Statement of Financial Position As at 31 December 2020 2019 For the period ended 31 December 2020 2019 For the period ended 31 December 2020 2019 Rs. ‘Mn Rs. ‘Mn Assets Rs. ‘Mn Rs. ‘Mn Rs. 'Mn Rs. 'Mn Cash and cash equivalents 20,412 33,986 Interest income 25,673 31,075 Profit/(loss) for the year 2,388 6,245 Balances with central bank 18,454 9,740 Placements with banks – 27,215 Interest expenses (9,001) (12,441) Items that will be reclassified to income statement Derivative financial instruments 656 812 Net interest income 16,672 18,634 Exchange differences on translation of foreign operations 1,414 (188) Financial assets measured at fair value through profit or loss 335 4,751 Net gains/(losses) on cash flow hedges – – Financial assets designated at fair value through profit or loss – – Fee and commission income 3,169 4,233 Financial assets at amortised cost - loans and advances 219,123 260,155 Net gains/(losses) on investments in debt instruments measured at Fee and commission expenses (1,004) (1,280) Financial assets at amortised cost - debt instruments 3,118 3,088 fair value through other comprehensive income (660) 1,325 Financial assets measured at fair value through other 136,632 107,855 Net fee and commission income 2,165 2,953 Share of profits of associates and joint ventures – – comprehensive
    [Show full text]