Annual Report 2012 - National Savings Bank

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144BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWin South Korea we have establishedlinkages with the Woori Bank.We established a new business partnershipwith Visa International and launched theNSB Visa Debit Card that will add to theconvenience of banking with NSB.Changes and improvements to ourinternal systems and procedurescontinued during the year. TheInformation System Reviews wereregularised, increasing efciency of theinformation systems, while the branchdata base cleanup process continued withthe assistance of university aspirants.We implemented a system of selectinga ‘star branch’ from among our branchnetwork to recognise outstandingperformance and to motivate employees.Awards and RecognitionWe are proud to announce that FitchRating awarded the Bank with an AAA(lka) rating for the 10th consecutiveyear. Our Annual Report continued toreceive many accolades during the year.NSB’s Annual Report for 2011, receivedrecognition from a number of differentsources in 2012. This is an indication ofthe quality of our reporting and level oftransparency. Our list of awards is givenbelow.1. Awards received for our AnnualReport League American CommunicationProfessionals Vision AwardCeremony• The Bank’s AR 2011 was amongthe top 50 Annual Reports ofthe Asia Pacic Region• Gold for Banks-Thrift andMortgage Finance Category International ARC Awards• Grand award for Sri Lanka’sBest Annual Report.• Gold for the Non TraditionalAnnual Report• Honors for the Chairman’sreview Annual Report Awards of Instituteof Chartered Accountants of SriLanka• 1st runner up for Award forManagement Commentary• Silver Award for FinancialInstitute Category• Certicate of Merit in thecategory of Public SectorBanking Institutions at SAFAbest presented Annual ReportsAwards.The Bank also won the award for theBest T+0 Contributor in SLIPS, atthe 10th Anniversary Celebrations ofLanka Clear (Pvt) Ltd. This award isan outstanding achievement by NSBas there were 27 participants, includingCommercial Banks, vying for the award.GOVERNANCE,COMMITMENTS ANDENGAGEMENTWe are Sri Lanka’s leading specialisedSavings Bank with a 100% governmentguarantee. As a public institution, NSBhas a responsibility towards the publicof Sri Lanka and is accountable to thepeople of Sri Lanka. As such, we believeour governance systems and internalprocedures should be oriented towardsmaximum accountability, complianceand transparency. Therefore, the BankNATIONAL SAVINGS BANK . ANNUAL REPORT 2012
145BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWstrictly adheres to all relevant rules andregulation issued by the Government,Treasury and CBSL.Governance StructureThe Board of Directors is the highestgoverning body of the Bank. Otherthan two ex ofcio members allBoard members are appointed by theMinister of Finance and Planning.Responsibility for achieving the Bank’smandate through policy, strategy, actionand review, is vested in the Boardof Directors. Directors are chosenfor their probity, varied but relevantdisciplinary backgrounds and broadComposition of Main Boardexperience. The Board comprises anumber of professionals with differentcompetencies.For the most part, the Board exercisesoversight through a number ofcommittees. There are four BoardSub Committees. They are theBoard Audit Committee (BAC), theHuman Resources and RemunerationCommittee (HRRC), the NominationCommittee (NC) and the IntegratedRisk Management Committee (IRMC).They are constituted and mandated inaccordance with guidelines issued bythe CBSL and members are appointedby the Board of Directors. Eachcommittee is governed by a foundingcharter. Board Committees meetquarterly, or at intervals specied bytheir specic charters.The CEO/GM is the highest executiveofcer and he reports directly tothe Chairman and the Board. Thenext level of authority is the Bank’sCorporate Management and ExecutiveManagement.Please refer the Corporate Governanceand Risk Management sections in pages54 to 135 of this Annual Report formore information on NSB’s governancestructure.Non-ExecutiveMembersWorkingDirectorIndependentDirectorsNonIndependentDirectorsGenderAgeMale Female Below 60 Above 60 yrsyrsMain Board1 Mr Sunil S Sirisena M 2 Mr S T Abeygunawardana M 3 Mr P A Abeysekera (Upto 28.02.2013) M 4 Mr R M P Ratnayaka M 5 Mr D L P R Abeyaratne M 6 Mr Lionel P Fernando M 7 Mr Priyantha Jayawardena M 8 Mr Sumith Wijesinghe M NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
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ROOTEDANNUAL REPORT 2012
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ROOTEDNATIONAL SAVINGS BANK l ANNUA
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5MISSIONProviding our customers wit
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7ROOTEDFor over 40 years, the Natio
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92000Establishment of subsidiary co
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11HOW WE PERFORMED IN 2012FINANCIAL
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13CHAPTER 1FIRMLY ANCHOREDSTRATEGY
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15A MESSAGE FROM MR SUNIL S. SIRISE
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17A MESSAGE FROM MR SUNIL S. SIRISE
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19A REVIEW BYMR. HENNAYAKE BANDARAG
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21A REVIEW BY MR HENNAYAKE BANDARAG
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23A REVIEW BY MR HENNAYAKE BANDARAG
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25CHAPTER 2HOW WE PERFORMED IN 2012
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33HOW WE PERFORMED IN 2012ECONOMIC
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35HOW WE PERFORMED IN 2012ECONOMIC
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37HOW WE PERFORMED IN 2012ACHIEVEME
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39HOW WE PERFORMED IN 2012OPERATION
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51HOW WE PERFORMED IN 2012FUTURE PL
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53CHAPTER 3ROOTED IN OUR HERITAGEGO
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55ROOTED IN OUR HERITAGEGOVERNANCE
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85ROOTED IN OUR HERITAGEBOARD OF DI
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87ROOTED IN OUR HERITAGEBOARD OF DI
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89ROOTED IN OUR HERITAGEGENERAL MAN
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91ROOTED IN OUR HERITAGECORPORATE M
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Page 105 and 106: 103CHAPTER 4ASSESSING AND MANAGING
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Page 185 and 186: 183CHAPTER 6THE RESULTS OF A CHALLE
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195THE RESULTS OF A CHALLENGING YEA
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251CHAPTER 7ANNEXURESNATIONAL SAVIN
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253STATEMENT OF FINANCIAL POSITION
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255TEN YEARS AT A GLANCE(Rs Mn)Year
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257OUR PRODUCTS AND SERVICESSAVINGS
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259OUR PRODUCTS AND SERVICES19. Ran
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261OUR PRODUCTS AND SERVICESOUR EXT
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263BRANCH NETWORKCentral Province1.
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265CORRESPONDENT BANKSCiti Bank NA,
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267EXCHANGE COMPANIESHabib Qatar In
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269GLOSSARYCredit RatingsAn evaluat
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271GLOSSARYReturn on Average Assets
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273CORPORATE INFORMATIONCOMPLIANCE
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Annual Report 2012 - National Savings Bank

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