Annual Report 2012 - National Savings Bank

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20A REVIEW BY MR HENNAYAKE BANDARAGENERAL MANAGER / CEOThe National Savings Bank has aformidable legacy of over 180 years asthe nation’s premier savings bank.This means that we have been steeringthe course of Sri Lanka’s savings culturefor nearly two centuries: evidence ofhow rmly we are rooted in this land, itspast, its transformational chapters and itsprogress into the future.Our long history informs our future,showing just how inextricably the Bank’soperations are intertwined with thetraditions, conventions and values thatare a vital part of the nation’s heritage;that our rm roots in those fundamentalshave made us integral to this country’sdevelopmental journey.Today we reafrm our vision and focuson being the most reliable and soughtafter savings and investment solutionoption for the people of this land. We doso by bringing the values and practices oflong term corporate social responsibilityinto every transaction we undertake,by looking to our roots in the nation’shistory, of being the original, most trustedNational Savings Bank. This is our visionand we will never lose sight of it .“The fi ve thousandcustomer access pointsthat now constitutethe largest individualbanking network in thecountry mean we havethe ability to be in touchwith the people of thisnation anywhere, at anytime.”To achieve these ambitions we havereached out to the people wherever theyare, in the remotest regions of the island.The ve thousand customer access pointsthat now constitute the largest individualbanking network in the country mean wehave the ability to be in touch with thepeople of this nation anywhere, at anytime.Sustainable economies are built onsustainable savings. Whether rural orurban, the concept of savings must bepart of the process of development. In thebigger picture of national development,this is a responsibility we have been givenor mandated perhaps, to develop a strongsavings base that offers the people ofSri Lanka the assurance that their savingsare guaranteed by the Government ofSri Lanka and therefore safe with us andthat their savings make them key playersin the country’s developmental agenda.A new chapter is writtenOur Board was changed in mid 2012and as it did so, we once again reectedon our roots. Questions were asked andthe answers brought us back to our corepurpose of being a savings bank. I’mmost excited that our Board, led by theChairman Mr Sunil Sirisena envisionsour future in a business context thatwill surely be ambitious. I am mostappreciative of the fact that the eminentindividuals who form our Board bringgreat expertise and experience to thetable and continue to give me leadershipand guidance to lead the Bank forward.My team is the foundation upon whichwe plan to grow. They are unique as theynot only believe that they can achieve theimpossible, but also they can drive theBank forward on this journey. Workingtogether we can surely triumph inwhatever we set out to do.NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
21A REVIEW BY MR HENNAYAKE BANDARAGENERAL MANAGER / CEOThe challenges however weremanyHowever, everything was certainly notrosy. We were hurt, quite a number oftimes in fact. The negative publicity thatensued as a result of the The Finance Co.Plc share transaction by the NSB in lateApril 2012 did not reect well on us. Theyear under review therefore presented uswith numerous challenges that affectedthe smooth operation of our day to dayactivities.We have now turned the corner andput that chapter behind us. We believewe have regained any condence thatwe may have lost due to this issue,emphasizing more than ever that ourdeep roots and excellent reputation willcontinue to be our strength and anchorin the years ahead. Even though wehave always strived for the best practicein governance, ethics, transparency andaccountability, this episode made useven more aware of our responsibilitiestowards our many stakeholders. Wewent back to the drawing board andre-analysed our corporate governanceand best management practices. Weplaced on record the lessons we learnedand established even more stringentgovernance and regulation in order toguard against the recurrence of suchtransgressions. We are very conscious thatgood governance must be maintained atall costs.So what were our achievementsin 2012?We took our ambitious objective ofreaching the people any time, anywhere,further this year by adding nine branchesto the existing network. This expansionis part of our strategic plan founded oncustomer aspirations and the need for usto be accessible in identied locations.Our partnership with the people mustbe nurtured from the beginning. Ourname “National Savings Bank” must beetched in young minds. While we do havededicated products for infants, youth andeven senior citizens, it is to the schoolsthat we have now turned our attention.The school banking operation we began40 years ago has been one of the beststrategies we have put into action. Ithas succeeded in bringing thousands ofstudents into the savings net. This successcombined with the pro-active educationalprogrammes we conduct in the schoolsand our offering of scholarships for highachievers, makes us condent that wehave successfully created a savings cultureamong students. We believe that we havesteered them towards a rm belief in thevalue of long-term savings - one that willpersist into their adult years.This large accrual of savings gives usthe exibility to prudently invest in themany national development programsdesigned to safeguard the future of thesevery stakeholders: our youth - the adultsof tomorrow.Another essential feature in our strategyis our conviction that every Sri Lankanmust have their primary needs met. Goodhousing is one of these needs - one that isaligned to the Mahinda Chinthana Goalsthat dictate shelter for all. Our products –the Mihindu Sevana Housing Loan andIthurum Nivasa Housing Loan both didexceptionally well this year, due in partto the fact that we have brought addedexibility and speed into the approvalprocess.There was immense competition inthe deposit mobilization arena withinthe banking industry. Given that ourmandate precludes us from pursuingNATIONAL SAVINGS BANK . ANNUAL REPORT 2012
Page 1: ROOTEDANNUAL REPORT 2012
Page 5 and 6: ROOTEDNATIONAL SAVINGS BANK l ANNUA
Page 7 and 8: 5MISSIONProviding our customers wit
Page 9 and 10: 7ROOTEDFor over 40 years, the Natio
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Page 13 and 14: 11HOW WE PERFORMED IN 2012FINANCIAL
Page 15 and 16: 13CHAPTER 1FIRMLY ANCHOREDSTRATEGY
Page 17 and 18: 15A MESSAGE FROM MR SUNIL S. SIRISE
Page 19 and 20: 17A MESSAGE FROM MR SUNIL S. SIRISE
Page 21: 19A REVIEW BYMR. HENNAYAKE BANDARAG
Page 25 and 26: 23A REVIEW BY MR HENNAYAKE BANDARAG
Page 27 and 28: 25CHAPTER 2HOW WE PERFORMED IN 2012
Page 35 and 36: 33HOW WE PERFORMED IN 2012ECONOMIC
Page 37 and 38: 35HOW WE PERFORMED IN 2012ECONOMIC
Page 39 and 40: 37HOW WE PERFORMED IN 2012ACHIEVEME
Page 41 and 42: 39HOW WE PERFORMED IN 2012OPERATION
Page 53 and 54: 51HOW WE PERFORMED IN 2012FUTURE PL
Page 55 and 56: 53CHAPTER 3ROOTED IN OUR HERITAGEGO
Page 57 and 58: 55ROOTED IN OUR HERITAGEGOVERNANCE
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71ROOTED 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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139BRANCHING OUT INTO NEW VENTURESS
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173BRANCHING OUT INTO NEW VENTURESG
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183CHAPTER 6THE RESULTS OF A CHALLE
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185THE 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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