Annual Report 2012 - National Savings Bank

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60ROOTED IN OUR HERITAGEGOVERNANCE REPORT3. Nomination Committee (NC)Scope of the Nomination CommitteeThe Nomination Committee reports tothe Board in respect of its activities anddecisions and the Committee shouldcomprise at least three IndependentDirectors as members.The Committee sets the criteria suchas qualications, experience and keyattributes required for eligibility tobe considered for appointment orpromotion to the post of CEO and thekey management positions.The Nomination Committee is alsoresponsible for providing generaloversight of policies and processesthat ensure the Bank’s compliancewith appointments and nominationsrequired by regulators in addition tomonitoring, evaluating and makingdecisions on behalf of the Board withrespect to policies and strategic mattersrelated to nominating staff members.The Nomination Committee Report isgiven on page 101.4. Integrated Risk ManagementCommittee (IRMC)Scope of the Integrated RiskManagement CommitteeThe IRMC assesses all risks, i.e.credit, market, liquidity, operationaland strategic to the Bank throughappropriate risk indicators andmanagement information.The committee is responsible forensuring that the Integrated RiskManagement framework for the Bankis implemented according to plan andassess all aspects of risk managementincluding the updating of businesscontinuity plans.The IRMC reviews the adequacy andeffectiveness of all management levelcommittees such as the credit committeeand the asset-liability committee toaddress specic risks and to managethose risks within quantitative andqualitative risk limits as specied by thecommittee.The committee takes prompt correctiveaction to mitigate the effects of specicrisks when such risks are at levels beyondthe prudent levels decided by thecommittee on the basis of the Bank’spolicies and regulatory and supervisoryrequirements.The committee also takes appropriateactions against the ofcers responsiblefor failure to identify specic risksand take prompt corrective actions asrecommended by the committee, and/or as directed by the Director of BankSupervision of CBSL.The IRMC ensures submission of a riskassessment report to the Board seekingthe Board’s views, concurrences and/orspecic directions on a regular basis.The committee has established acompliance function to assess the Bank’scompliance with laws, regulations,regulatory guidelines, internal controlsand approved policies on all areasof business operations. A dedicatedCompliance Ofcer is selected from keymanagement personnel to carry out theCompliance function and report to thecommittee periodically.The Integrated Risk ManagementCommittee Report is given onpage 100.NATIONAL SAVINGS BANK . ANNUAL REPORT 2012
61ROOTED IN OUR HERITAGEGOVERNANCE REPORTBoard Appointed Committee AttendanceThe number of meetings of the Board appointed committees and individual attendance out of the number of eligible meetingsof each director for the year 2012 are shown below:Names Directorship Status Board AuditCommitteeAs per statutory requirements Totalminimum Number of Meetings tobe held during the yearTotal No. of Meetings held duringthe year.Mr. Sunil. S.Sirisena - Chairman(from 06.08.2012)Mr. S.T. Abeygunawardana(Re-appointed on 06-08-2012)Mr. P.A. Abeysekera(Re-appointed on 22-08-2012)Mr. D.L.P.R. Abeyaratne(from 23-02-2012)Mr. Lionel P. Fernando(from 17-08-2012)Mr. Sumith Wijesinghe(from 17-08-2012)Mr. Priyantha Jaywardena(from 17-08-2012)Mr. Pradeep KariyawasamMr. Hema Madiwela (Former Board)(upto 18-05-2012)Mr. S. Shan Shanmuganathen(Former Board-Former ChairmanBAC) (upto 10-08-2012)Mr. R.A.P. Ranawake (Former Board)(upto 10-08-2012)ChairmanNon-IndependentNon-ExecutiveChairman HRRCWorking DirectorNon-IndependentIndependentNon-Executive DirectorChairman NCNon-IndependentNon-Executive DirectorChairman IRMCNon-IndependentNon-Executive DirectorChairman BACIndependentNon-Executive DirectorIndependentNon-Executive DirectorChairmanNon-IndependentNon-ExecutiveIndependentNon-Executive DirectorIndependentNon-Executive DirectorNon-IndependentNon-Executive DirectorNominationCommitteeIntegrated RiskManagementCommitteeHuman ResourceRemunerationCommittee04 02 04 0405 Not held 04 02N/A N/A N/A 01N/A - N/A 0103 - N/A 01N/A N/A 04 N/A03 N/A 03 N/A03 - N/A N/AN/A N/A 01 01N/A N/A N/A -02 - N/A N/A02 N/A 01 N/A02 N/A 01 N/ANA = Not Applicable 0 = Required to be present but not attended - = Member but there were no meetings to attendedNot Held= The Nomination Committee was not held as per the direction in its charter.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
Page 11 and 12: 92000Establishment of subsidiary co
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 and 22: 19A REVIEW BYMR. HENNAYAKE BANDARAG
Page 23 and 24: 21A REVIEW BY MR HENNAYAKE BANDARAG
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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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Page 87 and 88: 85ROOTED IN OUR HERITAGEBOARD OF DI
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Page 91 and 92: 89ROOTED IN OUR HERITAGEGENERAL MAN
Page 93 and 94: 91ROOTED IN OUR HERITAGECORPORATE M
Page 95 and 96: 93ROOTED IN OUR HERITAGEEXECUTIVE M
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Page 105 and 106: 103CHAPTER 4ASSESSING AND MANAGING
Page 107 and 108: 105ASSESSING AND MANAGING OUR RISK
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111ASSESSING 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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