DOCSLIB.ORG

Commercial Bank AR2015.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Annual Report 2015 Commercial Bank of Ceylon PLC 1 It is a tradition of the Bank to ‘walk in step’ with its stakeholders. Such is the closeness of this relationship that it is akin to ‘walking in the same shoes’...where every strategy and action of the Bank is driven by the paramount desire to satisfy and delight our customers and other stakeholders...at every step. Simply put…this is walking at its purest. About Us Highlights of the Year 4 6 About the Report 10 Stewardship Chairman’s An account of how we balance Review stakeholder interest and exercise oversight of affairs of the Bank 11 13 Managing Director’s Review 17 22 Creating Value for Stakeholders 23 Stakeholder Engagement 24 Materiality 26 Governance 28 Board of Directors 112 Managing Risk at Commercial Bank Focus on Value Creation A balanced account of how we utilised ‘capitals’ in creating value for our stakeholders and our impact on the economy, society and environment 145 146 Providing Context to Our Performance 154 Accounting for Capitals 206 A Positive Impact Financial Reports Audited Financial Statements together with the Independent Auditors’ Report 235 Supplementary Information Other useful information in tracking our progress 405 ABOUT US 4 Commercial Bank of Ceylon PLC Annual Report 2015 Commercial Bank of Ceylon PLC is the largest listed financial institution in Sri Lanka and the most awarded bank in the country. With a market capitalisation of around US$ 1 Bn., it is the 3rd largest of all listed entities in the country and also the only Bank which is ranked amongst the world’s top 1,000 banks for the past 5 consecutive years in the country. A high performing team of 4,951 employees serve over 3 million customers through our network of 264 branches in Sri Lanka and Bangladesh and a representative office in Myanmar. In step with our customers and responsive to their needs, we aspire to be their primary banker supporting their growth through our global network of 50 correspondent banks – a true partner in the country’s socio-economic progress. Annual Report 2015 Commercial Bank of Ceylon PLC 5 About Us Our Vision Our Mission To be the most technologically advanced, Providing reliable, innovative, customer-friendly financial services, innovative and customer-friendly financial utilising cutting-edge technology and focusing continuously on services organisation in Sri Lanka, poised for productivity improvement whilst developing our staff and acquiring further expansion in South Asia. necessary expertise to expand locally and regionally. HIGHLIGHTS OF THE YEAR 6 Commercial Bank of Ceylon PLC Annual Report 2015 Financial Highlights GROUP BANK 2015 2014 Change 2015 2014 Change % % Results for the year (Rs. Bn.) Gross income 78.225 72.848 7.38 77.868 72.752 7.03 Operating profi t before fi nancial VAT and tax 20.013 18.542 7.93 20.033 18.425 8.73 Profi t before taxation (PBT) 17.136 15.860 8.05 17.144 15.736 8.94 Income tax expense 5.277 4.617 14.29 5.240 4.556 15.02 Profi t for the year 11.859 11.243 5.48 11.903 11.180 6.47 Revenue to the Governments 10.772 7.295 47.66 10.682 7.235 47.64 Gross dividends 5.700 5.630 1.24 5.700 5.630 1.24 Position at the year-end (Rs. Bn.) Shareholders’ funds (Stated capital and reserves) 70.964 71.206 (0.34) 70.341 70.512 (0.24) Deposits from customers 624.021 529.267 17.90 624.102 529.361 17.90 Gross loans and advances 528.383 423.701 24.71 526.167 422.388 24.57 Total assets 882.183 797.258 10.65 879,805 795.610 10.58 Information per Ordinary Share (Rs.) Earnings (Basic) 13.53 12.87 5.13 13.59 12.81 6.09 Earnings (Diluted) 13.51 12.82 5.38 13.57 12.75 6.43 Dividends – Cash – – – 4.50 4.50 – Dividends – Shares – – – 2.00 2.00 – Net assets value 80.93 82.24 (1.59) 80.22 81.44 (1.50) Market value at the year-end – Voting N/A N/A – 140.20 171.00 (18.01) Market value at the year-end – Non-Voting N/A N/A – 123.00 125.10 (1.68) Ratios Return on average shareholders’ funds (%) 16.68 18.11 (1.43) 16.90 17.01 (0.11) Return on average assets (%) 1.41 1.72 (0.31) 1.42 1.60 (0.18) Price earnings (times) – Ordinary Voting Shares N/A N/A 10.33 13.24 (21.98) Price Earnings (times) – Ordinary Non-Voting Shares N/A N/A 9.06 9.69 (6.50) Year-on-year growth in earnings (%) 5.48 11.52 (6.04) 6.47 7.03 (0.56) Dividend yield (%) – Ordinary Voting Shares N/A N/A 4.64 3.80 0.84 Dividend yield (%) – Ordinary Non-Voting Shares N/A N/A 5.28 5.20 0.08 Dividend cover on Ordinary Shares (times) N/A N/A 2.09 1.99 5.03 Statutory Ratios: Liquid assets (%) N/A N/A – 27.72 33.11 (5.39) Capital adequacy ratios: Tier I (%) – Minimum requirement 5% 11.55 13.07 (1.52) 11.60 12.93 (1.33) Tier I & II (%) – Minimum requirement 10% 14.28 16.22 (1.94) 14.26 15.97 (1.71) Financial Goals and Achievements – bank Goal Achievement Financial Indicator 2015 2014 2013 2012 2011 Return on average assets (ROA) (%) Over 2% 1.42 1.60 1.87 2.12 1.94 Return on average shareholders’ funds (%) Over 20% 16.90 17.01 18.40 20.96 20.28 Growth in income (%) Over 20% 7.03 0.96 15.40 38.25 10.45 Growth in profi t for the year (%) Over 20% 6.47 7.03 3.44 28.10 42.72 Growth in total assets (%) Over 20% 10.58 31.29 18.54 15.95 18.95 Dividend per share (DPS) (Rs.) Over Rs. 5.00 6.50 6.50 6.50 6.50 6.00 Capital adequacy ratios: Tier I (%) – Minimum requirement 5% Over 8% 11.60 12.93 13.27 12.64 12.11 Tier II (%) – Minimum requirement 10% Over 13% 14.26 15.97 16.91 13.85 13.01 Annual Report 2015 Commercial Bank of Ceylon PLC 7 Highlights of the Year A Snapshot of Value Created for the Stakeholders 14.28% Total Capital Rs. 78.225 Bn. Adequacy Ratio Group Gross Income Group Customers Rs. 882.183 Bn. Total Assets Group Growth in No. of Deposits & Advances Accounts (%) Business 2015 3.62 Partners 2014 2.14 Employees Assets Purchased No of Customer (Other than Touch Points Investments) Sri Lanka (Rs. Mn.) 2015 246 2015 1,193 2014 239 Total No. of Employees 2014 1,134 Government Bangladesh 2015 4,951 Institutions 2015 18 2014 4,852 2014 18 Taxes Paid to No. of Governments Correspondent Average Hours (Rs. Mn.) Banks of Training per 2015 50 Employee per Year 2015 10,682 2014 48 2014 7,235 Community 2015 24.26 2014 27.24 ATMs Sri Lanka Tax Collected 2015 621 on behalf of Attrition Ratio (%) 2014 606 Governments 2015 3.74 (Rs. Mn.) Donations Bangladesh (Rs. Mn.) 2014 4.26 2015 1,777 2015 19 2014 2,211 2015 63 2014 19 2014 55 Highlights of the Year 8 Commercial Bank of Ceylon PLC Annual Report 2015 Performance Highlights A strong commitment to sustainable growth Value Created for Shareholders Value Created for the Government Total Assets, Shareholders' Rs. Bn. Government Taxes Borne Rs. Bn. Tax Collected on Behalf Rs. Mn. Funds & Dividend by the Bank of the Government 1,000 6.0 12 2,500 800 5.5 2,000 9 600 5.0 1,500 6 400 4.5 1,000 3 200 4.0 500 0 3.5 0 0 11 12 13 14 15 11 12 13 14 15 11 12 13 14 15 Assets Shareholders' Funds Dividend (LHS) (LHS) (RHS) Value Created for Customers Value Created for Business Partners Rs. Bn. Nos. Rs. Mn. Payments to Suppliers Rs. Mn. Rs. Mn. Loans Disbursed Customer Touch Points Fees & Commission Paid - Payments to Suppliers - PPE Recurrent 500 1,000 1,000 4,000 1,250 400 800 800 3,200 1,000 300 600 600 2,400 750 200 400 400 1,600 500 100 200 200 800 250 0 0 0 0 0 11 12 13 14 15 11 12 13 14 15 11 12 13 14 15 11 12 13 14 15 11 12 13 14 15 No. of Branches No. of ATMs Value Created for Employees Value Created for the Community Strong Commitment to the Environment Nos. Rs. Bn. No. of Beneciaries from Nos. No. of Customers Employee Headcount Total Staff Cost IT Labs Donated by CSR Trust Migrating to e-Statements 5,000 12.0 150,000 10.0 4,000 120,000 8.0 3,000 90,000 6.0 2,000 60,000 4.0 1,000 2.0 30,000 0 0 11 12 13 14 15 11 12 13 14 15 0 11 12 13 14 15 Male Female Remuneration Retirement Benets Other Annual Report 2015 Commercial Bank of Ceylon PLC 9 Highlights of the Year Value Created for Shareholders Value Created for the Government Total Assets, Shareholders' Rs. Bn. Government Taxes Borne Rs. Bn. Tax Collected on Behalf Rs. Mn. Funds & Dividend by the Bank of the Government 1,000 6.0 12 2,500 800 5.5 2,000 9 600 5.0 1,500 6 400 4.5 1,000 3 200 4.0 500 0 3.5 0 0 11 12 13 14 15 11 12 13 14 15 11 12 13 14 15 Assets Shareholders' Funds Dividend (LHS) (LHS) (RHS) Value Created for Customers Value Created for Business Partners Rs.
Recommended publications
  • Lankaclear (Private) Limited Annual Report 2020/21 Annual Report 2020/21 Lankaclear (Private) Limited 1 Lankaclear (Private) Limited Annual Report 2020/21 2

    Lankaclear (Private) Limited Annual Report 2020/21 Annual Report 2020/21 Lankaclear (Private) Limited 1 Lankaclear (Private) Limited Annual Report 2020/21 2

    LankaClear (Private) Limited Annual Report 2020/21 Annual Report 2020/21 LankaClear (Private) Limited 1 LankaClear (Private) Limited Annual Report 2020/21 2 To revolutionize the transport sector in the country, we unveiled the 2in1 payment card technology to enable ‘Tap and Go’ payment capability in public transport. Ensuring a Quantum Leap in the Transport Sector, this is a pioneering effort to introduce an innovative technology of a single payment card with online and offline capabilities to provide convenience to commuters of public transport. You may get a glimpse of the Sri Lanka Transit Card experience by enabling NFC access in your Smart Phone and tapping the phone on the LankaPay card on the cover page of this year’s annual report. LankaClear has always been in the forefront of understanding consumer needs to make their lives and work seamless by providing real-time and secure transactions. In fact, we are well on our way to integrate THEďLATESTďȶNANCIALďSERVICEďINNOVATIONďTHATďWILLďPOSITIVELYď impact the lives of a majority of Sri Lankans via our 2 INďď0AYMENTď#ARDď7ITHďAďDYNAMICďSHIȺďINďCONSUMERď behaviour and how companies analyse the metrics of online engagement, our services have become indispensable. Our enviable track record shows that we have always strived to bring world-class technology, speed and convenience to a new breed of digital consumers to meet THEIRďDEMANDINGďEXPECTATIONSďINďACCESSINGďȶNANCIALď services. Similarly, we are making traditional brick mortar business a piece of history by bringing the future ever
  • Curriculum Vitae of Dr C.S

    Curriculum Vitae of Dr C.S

    Dr. Chamindalal Sujeewa Lewangamage Ph.D. (Tokyo), M.Eng. (Tokyo), B.Sc. Eng. Hons. (Moratuwa, Sri Lanka), C.Eng., MIE(SL), MSSE(SL) Office address Home Address Department of Civil Engineering, 307/9, Daham Pasal University of Moratuwa, Mawatha, Thumbowila Sri Lanka. Piliyandala, Sri Lanka. Tel: +94 - 11 2650567/8 (ext. 2014) +94 – 112613781 Fax: +94 -11 2651216 Mobile: +94-715323239 Email: [email protected], [email protected] Website: https://uom.lk/staff/Lewangamage.C.S.php EDUCATION 2001 - 2004 University of Tokyo, Japan Ph.D. : Civil (structural) Engineering Title : Failure and thermo-mechanical behaviour of rubber and its seismic isolation bearings. 1999 - 2001 University of Tokyo, Japan M.Eng.: Civil (structural) Engineering Title : Measurement of strain filed of continua by image analysis. 1994 - 1998 University of Moratuwa, Moratuwa, Sri Lanka B.Sc. (Hons) First Class in Civil Engineering. (Class rank is 2 out of 100) HONOURS AND AWARDS Gold Medal for the best paper (A statistical based approach for demarcating a wind loading map for Sri Lanka), Annual Sessions-2017, Society of Structural Engineers Sri Lanka. Award of Excellence in recognition of the Outstanding Research Performances for (2009- 2011), (2013-2015), (2016), (2017), (2018), University of Moratuwa, Sri Lanka. Monbusho scholarship to pursue Ph.D. programme at the University of Tokyo, awarded by the Ministry of Science, Sports and Culture, Japan (2001). Monbusho scholarship to pursue Master of Engineering programme at the University of Tokyo, awarded by the Ministry of Science, Sports and Culture, Japan (1999). Rex Cross Moraes Memorial Award for the best Civil Engineering student in Construction (1998).
  • INNOVATE for FINANCIAL INCLUSION Dr

    INNOVATE for FINANCIAL INCLUSION Dr

    INNOVATE TO WIN: INNOVATE FOR FINANCIAL INCLUSION Dr. Ranee Jayamaha Former Deputy Governor – Central Bank of Sri Lanka Background and case for innovating financial inclusion Financial inclusion is a global challenge. The Global Findex (2014)1 shows that three- quarters of the world’s poor do not have bank accounts, partly due to inaccessibility and unaffordability in addition to poverty. Of this, 59% of adults in developing economies or 77% of adults are earning less than US$2 a day (Demirguc-Kunt & Clapper 2012)2 . During the last decade, developing and emerging countries have recorded impressive growth rates compared to those of the developed countries. Despite these impressive country level performances, according to World Bank (2015), in 2011, around 1 billion people or more than 14.5% of the global population lived in extreme poverty (on less than US$1.25 per day). The poverty level of Sub-Saharan Africa and South Asia accounts for about 80% of the global poor3 . The World Bank attempts to promote financially and socially inclusive growth among the bottom 40% of the population pyramid in every country. Generally, financial sector development facilitates economic growth and creates both private and social benefits, but the challenge is to extend financial services to the low-income groups ensuring inclusive growth. This is because limited financial inclusion at the bottom of the pyramid will adversely impact financial stability, financial security and mobility of the poor, thus effectively excluding them from prosperity and development. The Financial Stability Institute Conference4 discussed the theme “Standard Setting in the Changing Landscape of Digital Financial Inclusion” and announced that an estimated 2.5 billion people currently have no access to formal financial services, such as payments, credit, insurance and savings and emphasised the need to set standards to improve financial services.
  • Payments Bulletins 29

    Payments Bulletins 29

    PPaayymmeennttss BBuulllleettiinn FFiirrsstt QQuuaarrtteerr 22001166 Payments and Settlements Department Central Bank of Sri Lanka Payments Bulleti n - F i r s t Quarter 201 6 Page 1 Contents Topic Page 1 Currency in Circulation 3 2 Non-Cash Payments 4 2.1 Real Time Gross Settlement (RTGS) System 5 2.2 Cheques 8 2.3 Sri Lanka Interbank Payment (SLIP) System 12 2.4 Payment Cards and Mobile Phone based Payment Mechanisms 14 2.4.1 Payment Cards 14 Credit Cards 15 Debit Cards 17 Payment Card Infrastructure 18 Automated Teller Machines (ATMs) 18 Point of Sale (POS) Terminals 19 2.4.2 Mobile Phone based Payment Mechanisms 20 Customer Account based Mobile Payment Systems 20 Mobile Phone based e-money Systems 20 2.5 Internet based Payment Systems 21 2.6 Tele banking 22 2.7 Postal Instruments 22 2.8 Common Card and Payment Switch (CCAPS) 23 Common ATM Switch (CAS) 23 Common Electronic Fund Transfer Switch (CEFTS) 24 Shared ATM Switch (SAS) 24 3 Asian Clearing Union (ACU) 25 4 Society for Worldwide Interbank Financial Telecommunication (SWIFT) 26 5 Key Indicators 27 6 Regulatory Framework of Payment and Settlement Systems in Sri Lanka 28 7 List of Feature Articles in Payments Bulletins 29 8 Chronology of Major Events in the Payment and Settlement Systems in Sri Lanka 30 Payments Bulleti n - F i r s t Quarter 201 6 Page 2 1 Currency in Circulation The Central Bank of Sri Lanka (CBSL) has the sole authority to issue currency notes and coins on behalf of the Government of Sri Lanka.
  • Orient Finance PLC – IPO 2016 – Prospectus

    Orient Finance PLC – IPO 2016 – Prospectus

    PROSPECTUS INITIAL PUBLIC OFFERING “TO BE LISTED ON THE DIRI SAVI BOARD OF THE COLOMBO STOCK EXCHANGE” Managers to the issue KENANGA INVESTMENT CORPORATION LTD ORIENT FINANCE PLC (Company Registration No: PB 1079 PQ) Incorporated under the Companies Ordinance No. 51 of 1938 and re-registered under the Companies Act No.07 of 2007. The Company is registered under the Finance Business Act No.42 of 2011 PROSPECTUS INVITATION TO INVEST IN 71,500,000 ORDINARY VOTING SHARES AT LKR 15 PER SHARE TO RAISE LKR 1,072,500,000 148,018,370 ORDINARY SHARES OF ORIENT FINANCE PLC TO BE LISTED ON THE DIRI SAVI BOARD OF THE COLOMBO STOCK EXCHANGE MANAGERS TO THE ISSUE KENANGA INVESTMENT CORPORATION LIMITED 4TH FLOOR, LANDMARK BUILDING, NO 385 GALLE ROAD, COLOMBO 03 This page is intentionally left blank Invitation to investors This invitation represents an opportunity to participate in the future growth prospects of Orient Finance PLC (“BFN”) formally known as Bartleet Finance PLC (“BFN”), a Non-Banking Financial Institution specialised in acceptance of deposits, granting lease facilities, hire purchase, loans and other credit facilities, real estate developments, share trading and related services. Through this Prospectus, BFN hereby wishes to make an invitation for Investment in respect of Seventy One Million Five Hundred Thousand (71,500,000) Ordinary Voting Shares at LKR 15.00 per Share. In this document, a prospective investor will find detailed information about BFN and its business in addition to other statutory information relating to the Issue. The Board of Directors of the Company urges the investing public that this Prospectus be read carefully prior to making an investment decision.
  • Payments Bulletin - Third Quarter 2020 Page 1

    Payments Bulletin - Third Quarter 2020 Page 1

    SECONDQ4 Third Quarter 2020 Payments and Settlements Department Central Bank of Sri Lanka Payments Bulletin - Third quarter 2020 Page 1 Contents Topic Page 1 Currency in Circulation 3 2 Non-Cash Payments 4 2.1 Real Time Gross Settlement (RTGS) System 5 2.2 Cheques 8 2.3 Sri Lanka Interbank Payment (SLIP) System 11 2.4 Payment Cards and Mobile Phone based Payment Mechanisms 13 2.4.1 Payment Cards 13 (a) Credit Cards 13 (b) Debit Cards 15 2.4.2 Payment Card Infrastructure 17 (a) Automated Teller Machines (ATMs) 17 (b) Point of Sale (POS) Terminals 18 2.4.3 Mobile Phone based Payment Mechanisms 19 (a) Customer Account based Mobile Payment Systems 19 (b) Mobile Phone based e-money Systems 19 2.5 Internet based Payment Systems 20 2.6 Tele banking 20 2.7 Postal Instruments 21 2.8 Other 21 2.9 Common Card and Payment Switch (CCAPS) 21 (a) Common ATM Switch (CAS) 22 (b) Common Electronic Fund Transfer Switch (CEFTS) 23 (c) Shared ATM Switch (SAS) 24 (d) Common POS Switch 24 2.10 LANKAQR 25 3 Asian Clearing Union (ACU) 26 4 Society for Worldwide Interbank Financial Telecommunication (SWIFT) 27 5 Transactions through Payment Systems/Instruments 28 6 Key Indicators 29 7 Licensed Service Providers of Payment Cards and Mobile 30 Payment Systems 8 Regulatory Framework of Payment and Settlement Systems in Sri Lanka 32 9 Chronology of Major Events in the Payment and Settlement Systems in 34 Sri Lanka Payments Bulletin - Third quarter 2020 Page 2 1 Currency in Circulation The Central Bank of Sri Lanka (CBSL) has the sole authority to issue currency notes and coins on behalf of the Government of Sri Lanka.
  • Commercial Bank of Ceylon Plc Annual Report 2014.Pdf

    Commercial Bank of Ceylon Plc Annual Report 2014.Pdf

    This Annual Report is published within three months of the date of the Statement of Financial Position. The web version is also published online on the same date as the date of issue of this Annual Report at www.combank.lk Our ‘way of life’; the ethics we espouse; our practices and processes; our principles and beliefs; our interaction with different communities…all of these speak of a strong culture unique to Commercial Bank. It has evolved over generations and today, the Bank enjoys steady and consistent growth and success because of it. Stakeholder inclusiveness pervades every facet of the Combank culture and Way. We are shaped and in turn shape our enterprise by listening closely to ‘the voice of the stakeholder’, learning and taking on board what needs to be done to remain people oriented, successful and sustainable. Welcome to Combanking! A cross section of stakeholder perceptions of the Bank appears throughout this report. Contents About the Bank 3 Annual Report of the Board of Directors 194 Executive Summary 4 Statement of Directors’ Responsibility 206 Highlights of the Year 6 Directors’ Statement on Internal Control 208 Letter from the Chairman 8 Assurance Report on Internal Control 210 Managing Director’s Review 12 Managing Director’s and Chief Financial Officer’s Statement of Responsibility 211 Directors' Interest in Contracts with the Bank 212 Management Discussion and Analysis 15 Other Disclosure Requirements Under the Prescribed Format Issued by the Central Bank of Sri Lanka for Preparation of Review of the Macroeconomic
  • Swarnamahal Financial Services PLC Annual Report 2011/12 Growth

    Swarnamahal Financial Services PLC Annual Report 2011/12 Growth

    Swarnamahal Financial Services PLC I Annual Report 2011/12 FINANCIAL SERVICES PLC Together in No 654, Galle Road, Colombo 03, Sri Lanka. Swarnamahal Financial Services PLC Tel.011 2556160-4, 2595061 Fax: 011 2589823, 2595062 Annual Report 2011/12 E-mail:[email protected] Web.www.sfs.lk Growth Contents ABOUT US CORPORATE INFORMATION Swarnamahal Financial Services PLC is a Public Limited Liability Company Incorporated in Sri Lanka 14th January 2004, under the Companies Name of the Company VAT Registration No. Financial Highlights 2 Act No.17 of 1982, and re-registered 16th September 2008 under the Swarnamahal Financial Services PLC 114363510 – 7000 Chairman’s Message 4 Companies Act No.7 of 2007. The Company is licensed by the Monetary Director/Chief Executive Officer’s Message 8 Board of Directors 11 Board of the Central Bank of Sri Lanka under the Finance Business Act Legal Form Credit Ratings Senior Management Team 16 No.42 of 2011. A Public limited liability Company incorporated 14th January BB+/NP RAM Ratings (Lanka) Limited Management Discussion and Analysis 18 2004, under the Companies Act No.17 of 1982 and Financial Review 22 re-registered 16th September 2008 under the Companies Act Number of employees Sustainability Report 27 VISION No.7 of 2007, registered as a finance Company under the 207 Risk Management 32 To be the Premier Financial Services Provider in LFC market. Finance Business Act No. 42 of 2011 by the Monetary Board of Corporate Governance 37 Annual Report of the Board of Directors the Central Bank of Sri Lanka. Company Secretary on the Affairs of the Company 63 MISSION SSP Corporate Services (Pvt) Ltd Directors’ Statement on Internal Control 69 To create superior long - term value to our shareholders, customers and Registered Office No.
  • Payments Bulletin - First Q U a R T E R 2019 Page 1

    Payments Bulletin - First Q U a R T E R 2019 Page 1

    SECONDQ3 First Quarter 2019 Payments and Settlements Department Central Bank of Sri Lanka Payments Bulletin - First Q u a r t e r 2019 Page 1 Contents Topic Page 1 Currency in Circulation 3 2 Non-Cash Payments 4 2.1 Real Time Gross Settlement (RTGS) System 5 2.2 Cheques 8 2.3 Sri Lanka Interbank Payment (SLIP) System 12 2.4 Payment Cards and Mobile Phone based Payment Mechanisms 14 2.4.1 Payment Cards 14 (a) Credit Cards 15 (b) Debit Cards 17 2.4.2 Payment Card Infrastructure 18 (a) Automated Teller Machines (ATMs) 18 (b) Point of Sale (POS) Terminals 19 2.4.3 Mobile Phone based Payment Mechanisms 20 (a) Customer Account based Mobile Payment Systems 20 (b) Mobile Phone based e-money Systems 20 2.5 Internet based Payment Systems 21 2.6 Tele banking 22 2.7 Postal Instruments 22 2.8 Other 23 2.9 Common Card and Payment Switch (CCAPS) 23 (a) Common ATM Switch (CAS) 23 (b) Common Electronic Fund Transfer Switch (CEFTS) 24 (c) Shared ATM Switch (SAS) 25 3 Asian Clearing Union (ACU) 26 4 Society for Worldwide Interbank Financial Telecommunication (SWIFT) 27 5 Transactions through Payment Systems/Instruments 28 6 Key Indicators 29 7 Licensed Service Providers of Payment Cards and Mobile 30 Payment Systems 8 Regulatory Framework of Payment and Settlement Systems in Sri Lanka 32 9 Chronology of Major Events in the Payment and Settlement Systems in 33 Sri Lanka Payments Bulletin - First Q u a r t e r 2019 Page 2 1 Currency in Circulation The Central Bank of Sri Lanka (CBSL) has the sole authority to issue currency notes and coins on behalf of the Government of Sri Lanka.
  • PROSPECTUS Debenture Issue 2014

    PROSPECTUS Debenture Issue 2014

    PROSPECTUS Debenture Issue 2014 Hatton National Bank PLC – Debenture Issue 2014 PROSPECTUS 1 2 Hatton National Bank PLC – Debenture Issue 2014 PROSPECTUS HATTON NATIONAL BANK PLC PROSPECTUS AN INITIAL ISSUE OF THIRTY MILLION (30,000,000) SENIOR, UNSECURED, REDEEMABLE, RATED DEBENTURES AT THE FACE VALUE OF LKR 100/- EACH TO RAISE SRI LANKA RUPEES THREE BILLION (LKR 3,000,000,000/-) WITH THE OPTION TO ISSUE A FURTHER TEN MILLION (10,000,000) OF THE SAID DEBENTURES BRINGING THE TOTAL RAISED UP TO SRI LANKA RUPEES FOUR BILLION (LKR 4,000,000,000/-) AT THE DISCRETION OF THE COMPANY IN THE EVENT OF AN OVERSUBSCRIPTION OF THE INITIAL ISSUE TO BE LISTED ON THE COLOMBO STOCK EXCHANGE Rated ‘AA- (lka)’ by Fitch Ratings Lanka Limited ISSUE OPENS ON 04 December 2014 Managers to the Issue Acuity Partners (Private) Limited No. 53, Dharmapala Mawatha Colombo 03, Sri Lanka Tel: 011 2 206206 Hatton National Bank PLC – Debenture Issue 2014 PROSPECTUS 1 This Prospectus is dated 24 November 2014 The Colombo Stock Exchange (“CSE”) has taken reasonable care to ensure full and fair disclosure of information in this Prospectus. However, the CSE assumes no responsibility for the accuracy of the statements made, opinions expressed or reports included in this Prospectus. Moreover, the CSE does not regulate the pricing of the Debentures which is decided solely by the Issuer. The delivery of this Prospectus shall not under any circumstance constitute a representation or create any implication or suggestion that there has been no material change in the affairs of the Bank since the date of this Prospectus.
  • Multiple Strands of Business Lend Strength

    Multiple Strands of Business Lend Strength

    DFCC BANK Annual Report 2011/12 DFCC Bank - Annual Report 2011/12 - Annual Report MUltIPLE STRANDS DFCC Bank DFCC Building, P.O. Box 1397, 73/5, Galle Road, Colombo 03, Sri Lanka OF BUSINess LEND Telephone: +94 11 2442 442 | Fax: +94 11 2440 376 E-mail: [email protected] | website: www.dfcc.lk STRENGTH VISION To be Sri Lanka’s premier financial services group. MISSION To provide superior financial solutions and nurture business enterprises, adding value to our customers, shareholders, employees and the nation. OUR VALUES Our seven core values are the guiding principles for our ACTIONS that shape the way we do business. We are Accountable for what we do We place Customer experience at the core We believe Teamwork is key in turning our goals into accomplishments We have a passion for Innovation and excellence We Operate our business ethically We focus on the Need to grow our business profitably We are Socially and environmentally caring MULTIPLE STRANDS OF BUSINEss LEND STRENGTH The cover depicts the multiple strands of a fibre optic cable - a technology which has opened a whole new world to humankind. A key aspect of the DFCC Banking Business is the manner in which we have woven the various strands of business - development banking, commercial banking and investment banking - into a cohesive whole. The composite strength, by the very nature of its variety, provides us the vibrancy, energy and speed in serving a diversified portfolio ranging from top corporates to SMEs, from project financing to personal financial services and everything in between. DFCC really is about celebrating composite strength – the results of which unfold through the pages of this report.
  • Akila to Blame?

    Akila to Blame?

    SLOW COVID-19 DEATH OF LOCAL CASES TOTAL CASES 2,988 SINHARAJA? DEATHS RECOVERED ACTIVE CASES 134 12 2,842 RS. 70.00 PAGES 64 / SECTIONS 7 VOL. 02 – NO. 49 SUNDAY, AUGUST 30, 2020 CASES AROUND THE WORLD RECOVERD TOTAL CASES 17,138,894 CONSTITUTIONAL ETCA DEATHS REFORMS: 13A RETURNS DISCUSSIONS 24,681,048 836,744 TO THE LIMELIGHT RECOMMENCE THE ABOVE STATISTICS ARE CONFIRMED UP UNTIL 9.00 P.M. ON 21 AUGUST 2020 »SEE PAGE 5 »SEE BUSINESS PAGE 1 »SEE PAGE 7 CENTRAL EXPRESSWAY Tenders to China and UK z z Cabinet approval to be sought Funding to be more favourable to Sri Lanka BY MAHEESHA MUDUGAMUWA Accordingly, the construction Highly informed sources attached Furthermore, the funding was said to Meanwhile, the construction work contracts for Section III of the CEP are to the RDA, who wished to remain be finalised in a manner which would be of CEP Section I from Kadawatha to The Road Development Authority (RDA) is to finalise the to be awarded to a Chinese company, anonymous, told The Sunday Morning more favourable to Sri Lanka, he noted. Mirigama was resumed last week after awarding of the construction contract for the long-delayed while the construction of Section IV that the finalised documents would be Once Cabinet approval is granted, paying an advance payment of Rs. 16.67 Sections III and IV of the Central Expressway Project (CEP), The of the CEP would be awarded to a submitted to the Cabinet for approval the construction of Sections III and IV billion to the contractor.