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About Nations Trust Bank PLC Group Overview Simplify Annual Report 2016 Scan to view this report online https://www.nationstrust.com/ about/investor-relations/ annual-reports/302-ar At Nations Trust, we want to transform and simplify our customers’ day to day lives. That’s why we’ve invested so much into increasing our volumes, consolidating our positions, streamlining products and processes, and optimizing functions throughout our branch network. We also offer a range of digital banking technologies that ensure secure, instant access to our products and services for customers from one end of the island to the other. Simplify We’re touching more lives than ever before, through a fast growing branch network, making our products and services available to thousands of urban corporates and retail customers and regional SME entrepreneurs as well. We’re making it easier than ever for every Sri Lankan to achieve financial security, with uncomplicated online and real-world processes that make every transaction quick, easy and quite amazingly…simple. Nations Trust Bank Simplify In this Year’s Report Key Pages 22 48 60 Chairman’s Report CEO’s Review Operating Context & Strategy 76 108 192 Delivering Strategy Value Creation Financial Statements Through Our Business Lines against Our Capitals Contents Group Overview and Governance Delivering Strategy Through Our Annual Report of the Board of Directors Our Integrated Report 8 Business Lines on the Affairs of the Bank 175 About Nations Trust Bank PLC 12 Consumer Banking 78 Directors’ Interest in Contracts Performance Highlights 14 SME Banking 86 with the Bank 181 Investment Case 16 Corporate Banking 92 Directors’ Statement on Internal Control Business Pillars 17 Leasing 98 Over Financial Reporting 182 Our Business Model 18 Treasury 102 Auditors’ Report on Internal Control Over Value addition and trade-offs Financial Reporting 184 in our Capital inputs 20 Value Creation against Our Capitals Board Audit Review Chairman’s Message 22 Financial Capital 108 Committee Report 185 Corporate Governance Overview 28 Manufactured Capital 120 Risk Management Overview 40 Human Capital 122 Financial Statements Board of Directors 42 Social & Relationship capital 130 Directors’ Responsibility for CEO’S Review 48 Natural Capital 140 Financial Reporting 190 Corporate Management 54 Independent Auditors’ Report 191 Chief Managers 56 Independent Assurance 145 Statement of Financial Position 192 GRI Index 146 Statement of Profit or Loss 193 Operating Context & Strategy Risk Management 151 Statement of Comprehensive Income 194 Determining strategy 60 Statement of Changes in Equity 195 Economic and Industry Overview 61 Statutory Reports Statement of Cash Flows 196 Emerging Trends in the Board Integrated Risk Management Notes to the Financial Statements 197 Operating Context 66 Committee Report 169 287 Stakeholder relationships 67 Board Credit Committee Report 170 Corporate Governance 313 Defining what is Material 70 Board Supervisory Committee Report 171 Details of Freehold Land & Buildings 314 Our Strategy 72 Board Nomination Committee Report 172 Service Network Human Resources and Remuneration Glossary 318 Committee Report 173 Notice of Meeting 326 Related Party Transactions Review Form of Proxy 327 Committee Report 174 NATIONS TRUST BANK PLC Annual Report 2016 4 Our Vision We help people and businesses achieve today’s goals and tomorrow’s aspirations. Our Values Trust Excellence Agile Winning Together Proactive Corporate Profile • Corporate Accountability • Operational Reviews • Corporate Citizenship • Governance • Financial Statements • Supplementary Information 5 Vision, Mission Our Mission We will work SMART to be the most respected financial services provider. SMART Speed, More with less, Adaptable, Responsible, Tech-savvy Corporate Profile • Corporate Accountability • Operational Reviews • Corporate Citizenship • Governance • Financial Statements • Supplementary Information Group Overview and Governance Simplify Digital Technologies We’re evolving seamless, user friendly digital banking solutions that enable instant access and a host of online financial services. NATIONS TRUST BANK PLC Annual Report 2016 8 Welcome to our 3rd Integrated Annual report 2016 Nations Trust Bank PLC’s strategy, management practices and operations are informed by a sound appreciation of the capital resources we input to our process and the stakeholder relationships we depend on to generate sustainable value. Our approach to corporate reporting complements this integrated thinking and adoption of the <IR> Framework issued by the International Integrated Reporting Council (IIRC) has enabled us to provide a balanced and comprehensive discussion on our economic, social and environmental performance against our goals, the successes and challenges we faced in generating value as well as our targets going forward. Scope and boundary Nations Trust Bank PLC follows an annual reporting cycle and this Report covers the period from 1st January to 31st December 2016. Any material events after this date and up to approval by the Board of Directors on 27 February 2017 have also been included. This is our 3rd integrated report and builds on our previous report for the year ending 31st December 2015. The scope of this report includes the operations of Nations Trust Bank PLC and its subsidiaries, Waldock MacKenzie Limited, Allied Properties Limited and Nations Insurance Brokers Limited. There were no significant changes to the Bank’s size, structure, shareholding or supply chain during the period under review. The boundary of the report extends to both financial and non-financial performance on material developments which objectively represent the events that shaped our performance during the year and are likely to impact our future performance. NATIONS TRUST BANK PLC 9 Nations Trust Bank PLC follows an annual reporting cycle and this Report covers the period from 1st January to 31st December 2016. Standards and principles External assurance The Financial Statements presented on The Bank utilizes the services of pages 192 to 196 of this Report have independent service providers to assess been prepared in accordance with the and provide assurance on elements of Sri Lanka Financial Reporting Standards, our external reporting. Assurance on the the Banking Act No. 30 of 1988 and the financial statements and the Director’s requirements of the Companies Act No.7 Statement of Internal Controls has been of 2007. Preparation of the Integrated provided by Messrs. Ernst and Young, Report was guided by the principles of Chartered Accountants. This year, in order the <IR>Framework, published by the to ensure the credibility and validity of our International Integrated Reporting Council non-financial information, we have also in December 2013. Our sustainability engaged Messrs. Ernst and Young to obtain reporting is informed by the Global assurance on our sustainability reporting. Reporting Initiative (GRI) G4 criteria ‘In Accordance-Core’ option and the Financial Services sector disclosures. The section on Corporate Governance (pages 28 to 39) describes how the Bank complies with the Code of Best Practice on Corporate Governance issued by the Securities and Exchange Commission of Sri Lanka and the Institute of Chartered Accountants of Sri Lanka as well as the Banking Act Direction No.11 of 2007. There were no significant restatements of previously reported economic, social or environmental information. Overview and Governance • Operating Context & Strategy • Business Lines • Capitals Report • Statutory Reports • Financial Statements NATIONS TRUST BANK PLC Annual Report 2016 10 How to read this Report The content included in this integrated report has been carefully selected and structured to show how the Bank creates, delivers and ensures value creation for its stakeholders. Material Business issues (Pg. 70) Model (Pg. 80) Corporate Website www.ntb.lk About Nations Trust Bank Current promotions • About the Bank provides the reader with a brief overview of the Organisation, its business model, how the Bank is governed and an overview of how we manage our key risks • Operating context and strategy describes the landscape in which we operate, the matters that could potentially affect our value creation process and our strategic focus areas • Our performance demonstrates how we performed against our strategic targets for the Scan to view year, the successes and challenges and how our key business lines contributed towards this report online delivering our strategy https://www.nationstrust.com/ • Value creation against our capitals demonstrates how we transformed and added value about/investor-relations/ to our capital inputs during the year, ensuring sustainable value creation to all our annual-reports/302-ar stakeholders 11 Capitals Strategic Focus Areas Stakeholders Financial Capital Customer Shareholders centricity Employees Manufactured Digital Capital Customers Human Capital Data analytics Government Social and Lean concepts Relationship Capital Suppliers Natural Capital People Community Business Lines Consumer SME Corporate Leasing Treasury Banking Banking Banking Feedback We strive to continuously enhance the readability and meaningfulness of our Report and welcome your feedback and suggestions. Please direct your feedback and/or queries to, Kushlani Allis Chief Manager Management Reporting and Planning Email: [email protected] Overview and Governance • Operating Context & Strategy • Business Lines • Capitals Report • Statutory Reports • Financial Statements NATIONS TRUST BANK PLC Annual Report 2016
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