Annual Report 2012 - National Savings Bank

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190THE RESULTS OF A CHALLENGING YEARANNUAL REPORT OF BOARD OF DIRECTORSName of the DirectorSunil S SirisenaS.T. AbeygunawardanaP.A. Abeysekera (up to 28/02/2013)R.M.P. RatnayakeD.L.P.R. AbeyaratneLionel P. FernandoPriyantha JayawardenaSumith WijesingheStatusNIND/NEDNIND/WDIND/NEDIND/NEDNIND/NEDNIND/NEDIND/NEDIND/NEDNIND - Non-Independent, IND - Independent,NED - Non-Executive Director, WD - Working DirectorNew Appointments, Resignation & RetirementsFollowing new appointments were made during the year.Sunil S Sirisena - Appointed as the Chairman on 06-08-2012.S.T. Abeygunawardana - Re appointed on 6-08-2012P.A. Abeysekera - Re-appointed on 22-08-2012D.L.P.R. Abeyaratne - Appointed on 09-02-2012.Acting Chairman from 23-5-2012 to 05-8-2012Lionel P. Fernando - Appointed on 06-8-2012Priyantha Jayewardena - Appointed on 06-08-2012Sumith Wijesinghe - Appointed on 06-08-2012R.M.P. Ratnayake - Appointed on 04-03-2013NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
191THE RESULTS OF A CHALLENGING YEARANNUAL REPORT OF BOARD OF DIRECTORSFollowing Directors have resigned and retired during the yearP.G.S. Kariyawasam - Resigned on 21-5-2012Hema Madiwela - Resigned on 18-5-2012R.A.P. Ranawaka - Resigned on 10-6-2012S. Shan Shanmuganathan - Resigned on 10-8-2012M.K.B. Dissanayake - Resigned on 08-02-2012P.A. Abeysekara - Retired on 28-02-2013Directors’ Remuneration & OtherBenefitsDetails of Directors’ emoluments andother benets in respect of the Bankand Group for the Financial year 2012are given in Note 39 to the FinancialStatements.Directors’ MeetingsThe number of Directors’ meetingswhich comprise Board Meetings, AuditCommittee Meetings, NominationCommittee Meetings and IntegratedRisk Management Committee Meetingsand the attendance of Directors atthese meetings are given in CorporateGovernance Report on pages 58 to 59of this Annual Report.Directors’ Interests in ContractsDirectors’ interests in contracts withthe Bank, both direct and indirect arereferred to in Note 39 to the FinancialStatements. These interests have beendeclared at the Board Meetings. TheDirectors do not have any direct orindirect interest in other contracts orproposed contracts with the Bank.Chief Executive Officer (CEO)The General Manager is the ChiefExecutive Ofcer of the Bank and isappointed by the Board of Directors.The General Manager has the right tobe present at, and to participate in themeetings of the Board.Board CommitteesThe Board while assuming the overallresponsibility and accountability hasalso appointed the following BoardSub-Committees to ensure conformitywith Corporate Governance Standardsof the Central Bank and other statutorycompliances.The composition of mandatory SubCommittees as at 31 December 2012was as follows.Board Audit CommitteeLionel P Fernando - ChairmanP.A. Abeysekera - Member(upto 28-2-2013)R.M.P. Ratnayake - Member(from 04-03-2013)Sumith Wijesinghe - MemberThe Report of the Board AuditCommittee is given on page 95.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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93ROOTED IN OUR HERITAGEEXECUTIVE M
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95ROOTED IN OUR HERITAGEREPORT OF T
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101ROOTED IN OUR HERITAGEREPORT OF
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103CHAPTER 4ASSESSING AND MANAGING
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105ASSESSING AND MANAGING OUR RISK
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137CHAPTER 5BRANCHING OUT INTO NEW
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241THE 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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