DFCC Bank released the Annual Report 2017, under the theme “Bank for the Times”. DFCC Bank is the “Bank for the Times” because it is agile, responsive, and powering ahead on a foundation of capital strength supported by its four pillars: employees, financial technology, franchise, and the mindset of being a pioneer, pathfinder, and trailblazer.
The report is available as a concise report in print and on CD, as a comprehensive report accessible online at http://dfcc2017.annualreports.lk, and as a condensed annual snapshot in print and PDF format.
Click on the following links to view the DFCC Bank Annual Report and messages by the Chairman and CEO:
PDF format: http://www.dfcc.lk/images/pdf/DFCC_Annual_Report_2017.pdf
Online Annual Report: http://dfcc2017.annualreports.lk/
Message from the Chairman: https://www.youtube.com/watch?v=u_TGj5UDtoE
Message from the CEO: https://www.youtube.com/watch?v=tU_vKGbueWo
DFCC Bank appointed Mr. Thimal Perera as its Deputy Chief Executive Officer on the 16th of August.
With more than two decades of experience in the financial services and banking sector locally and internationally, Mr. Perera most recently served as the Deputy General Manager of Hatton National Bank where he guided the retail and SME banking sector.
Mr. Perera has also previously worked with HSBC locally and internationally, the Commercial Bank of Qatar and Barclays Bank PLC in the United Arab Emirates.
DFCC Bank appointed Mr. Lakshman Silva as its 10th Chief Executive Officer on the 16th of August.
Mr. Silva has accumulated over 30 years of experience in the financial sector. Having commenced his professional career at the Department of Inland Revenue of Sri Lanka, he moved to the financial services industry and joined the DFCC Group in 1987. Mr. Silva previously served as DFCC Vardhana Bank’s Chief Executive Officer in 2010.
A farewell party was held in honour of Mr. Arjun Fernando, who retired from the post of CEO on the 15th of August at the Hilton Colombo Residencies. Staff members from across the branch network were present to express their appreciation for his contribution to the Bank.
Winners of the Bancassurance General Award in the month of June were awarded trophies by Mr. Lakshman Silva.
Tharaka Wickramathunga (Premier Centre)
Congratulations to Chandramali Pragnarathna and Savanthi Kodagoda from Corporate Banking for winning the Bancassurance General Award Trophy for the month of July, achieving an income of Rs. 53,726.00.
Rachitha Priyankara from the Ampara branch came in 2nd achieving an income of Rs. 34,813.00.
In recognition of DFCC Bank’s success in incorporating sustainability into its corporate strategy and business processes, the Bank was awarded a Certificate of Merit in the Outstanding Business Sustainability Achievement category at the Global Sustainable Finance Awards 2017 held in Karlsruhe, Germany.
Senaka Jayasinghe of the Sustainability Unit received the award on behalf of the Bank, and also conducted a presentation on Sustainability at DFCC Bank at the Global Sustainable Finance Conference on the 13th and 14th of July, which was attended by over 100 delegates from over 30 organisations across Asia, Africa and Europe.
At the ADFIAP awards awards night held in Macau, DFCC Bank won an award under the SME development category for setting up a specialised unit for the development of MSME’s.
Besides being a founder member of the association, DFCC has been winning awards every year for its outstanding efforts.
The Bank also offers additional business development services such as by conducting workshops and training programmes on topics like entrepreneur development, capacity building and record keeping.
In addition, DFCC Bank was recognised for being a charter member of the ADFIAP since October 1976, at the event.
Mr. Arjun Fernando receiving the Award.
The AIA Bancassurance Achievers Awards Ceremony was held on the 24th of March at Cinnamon Lakeside, Colombo. This was to recognise the best Branch performers in 2016.The Kotahena branch of DFCC Bank was awarded the top spot, with the Galle and Batticaloa Branches ranking at second and third place respectively.
In a recent article by the Financial Times, DFCC Bank’s Annual Report 2016 was signalled out for its excellence in reporting, with the Bank’s direct, succinct approach receiving much praise.
The article equally commended our commitment to utilising multiple channels of information to communicate with stakeholders. In doing so, DFCC Bank ensures that the best medium is being used to address the intended audience.
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DFCC Bank PLC’s 61st Annual General Meeting was held on 30th March 2017 at Cinnamon Lakeside, Colombo.
Over 200 shareholders attended the event and the resolutions proposed by the Board of Directors were unanimously approved.
The shareholders especially commended the Bank’s performance in the preceding year as well as the concept, look and feel of the Annual Report for the corresponding period.
‘Congratulations on a very innovative concept for the Annual Report. I thought it was very unique to portray DFCC’s Journey on the cover page of the book’, commented one attendee.
‘Congratulations on doing an annual report that is very concise and easy to carry around in comparison to traditional annual reports’, added another participant.
Mr. Arjun Fernando, CEO DFCC Bank receiving the award from Hon. Minister Ravi Karunanayake. Also in the picture are Hon. Minister Sagala Ratnayaka and Hon. Minister Nimal Siripala De Silva
Business Today TOP 30 recently recognised the top corporate performers in Sri Lanka for the financial year 2015-2016. The award ceremony was held at Hilton Colombo under the patronage of the Prime Minister. Also present were other distinguished guests of the business world, diplomats, politicians and policy makers of Sri Lanka.
Business Today has annually recognised and awarded top corporate performers in the country since 1998 for their invaluable contribution towards strengthening the country’s economy.
DFCC Bank was once again ranked in the TOP 30 at number 21, reiterating the Bank’s remarkable standing in the corporate sector of Sri Lanka. Mr. Arjun Fernando received the award from the Hon. Finance Minister at the event.
The Business Today TOP 30 was based on the published information of companies listed in the Colombo Stock Exchange for the financial year ending December 31st 2015 and March 31st 2016, and was selected with assistance from KPMG Sri Lanka.
DFCC Bank was awarded a Certificate of Merit in the Outstanding Sustainable Project Financing category, at the Karlsruhe awards ceremony held recently. This award was given for financing a biomass based Combined Heat and Power Plant in Mirigama, Gampaha, with a capacity of 4MW. The power plant utilise biomass (wood chips from Gliricidia) as its fuel source.
The Project Company, K.M.R.I. – S.M.G. Asset Company (Pvt) Ltd., is to supply 17.3 GWh of electricity to the National Grid under a 20-year Power Purchase Agreement with the Ceylon Electricity Board (CEB), and 90,000 tonnes of steam to a Desiccated Coconut plant of the Silvermill Group (one of the project promoters and a shareholder), under a Steam Supply Agreement, annually.
The plant which will operate for 325 days a year, co-generates electricity and supply steam to the Silvermill Factory during 250 days of the year and 100% electricity at 4MW during the balance 75 days.
DFCC was awarded Gold in the Financial Institution Category at the 2015 Annual Report Awards organized by the Institute of Charted Accountants of Sri Lanka. The bank has made notable wins of this kind in the past as well.
During the financial year in focus, DFCC made radical changes in their approach to its annual report. It was formulated to communicate the relevant information concisely without compromising on the content and the compliance related disclosures. In doing so, the Annual Report was more user-friendly for the shareholders. More importantly DFCC also minimised the paper used for its Report this year.
The Annual Report was also made available in the form of a concise report in print, an online report and a condensed ‘annual snapshot’. These formats made the annual reports available to a larger readership and attracted a broad spectrum of current and potential stakeholders.
The bank’s stakeholders responded favourably to the Report and its success can be attributed to Smart Media (Pvt) Ltd, our Annual Report partner. The company intelligently conveyed the vision of DFCC.
Financial Statements for the quarter ended 30 September 2015.
DFCC Website, www.DFCC.lk won a merit award at the Best Website Awards in the Corporate, Banking and Insurance website category and in the Tamil website category. Organised by the LK Domain Registry, the Best Sri Lankan Website Awards (BestWeb.lk) recognize high quality Sri Lankan websites in a variety of different categories. This year over 600 websites competed with MAS Holding securing the top spot in the category followed by Union Assurance and Sampath Bank in the second and third places.
The DFCC website was re-launched in September 2012 supplemented with Sinhala and Tamil websites integrating the services of both banks to provide a fully-fledged online service.
DFCC Bank PLC was chosen to be a project partner of the German Development Cooperation (GIZ) along with Hatton National Bank, Sri Lanka Energy Manager’s Association (SLEMA) and the regional Chambers of Commerce in guiding Small and Medium Enterprises (SMEs) to employ energy efficient processes.
The project included workshops in Anuradhapura and Jaffna where approximately 30 SME’s in each region were trained including DFCC customers. Similar workshops were held in other parts of the country as well.
Both local and international experts followed an integrated approach to ensure SME’s receive the necessary support at each step of the investment. This project was in line with our developmental role and was facilitated by Branch Banking and DFCC Consulting. Officials from GIZ commended our staff for the excellence in which the workshops were organised.
DFCC Bank gained recognition for the 3rd consecutive year, at the Annual Global Sustainable Finance Conference in Karlsruhe, Germany. A Certificate of Merit was awarded under the Outstanding Sustainable Project Financing category in recognition of the outstanding success in long term financing of exemplary industrial/commercial or infrastructure projects that has benefited local communities, protects the environment and ensures reliable returns to investors and lenders.
DFCC won the Most Outstanding Sustainable Project Finance Award in 2013 and a Certificate of Merit for Outstanding Business Sustainability in 2014. Mrs.Manohari Gunawardhena – Senior Vice President, Group Corporate Banking and Capital Markets received the award on behalf of DFCC.
DFCC Bank clinched three awards at the Outstanding Development Project Awards 2015, organized by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). Besides being a founder member of the Association, DFCC has been winning awards every year for its outstanding project work. This year the Bank received a special award for the Best Sustainability Report, and was presented a Plaque of Merit for the developmental impact of projects carried out under the Environmental Development and Local Economic Development categories.
DFCC has been constantly pushing the boundaries of reporting. The Annual Report for 2013/14, titled ‘Game on’ was recognized locally by the Chartered Accountants of Sri Lanka when it won Gold at the awards ceremony held last year. The Annual Report for 2011/12 titled ‘Multiple Strands of Business Lend Strength’ was recognised at the ADFIAP Awards in 2013, when it won the overall award for Best Annual Report.
The award of merit for Environment Development was conferred to the Bank, for financing Sri Lanka’s first commercial scale grid-connected solar power project. The Bank is now on record for being the pioneer financier in all renewable energy projects (hydro, wind and solar) undertaken by the private sector in Sri Lanka. The Bank also won a merit award in the Local Economic Development category, for financing Sri Lanka’s first and only rice bran oil manufacturing facility.
Financial Statements for the quarter ended 30 June 2015.