Customer Capital

June 2017

Vardhana Double Winner Launched

Vardhana Double Winner is an unique personal loan product that offers double the benefits.

The key feature of this product is that customers can apply for a loan facility of up to 20 times their gross salary, at an attractive interest rate.

In addition, customers can obtain a cash advance of up to 90% of their salary to reap the maximum benefits from the loan.

Furthermore, on obtaining the loan, customers will also be eligible for other perks such as a complimentary debit card, eBanking services, the Vardhana Virtual Wallet and a credit card with the joining fee waived off.

Customer Capital

June 2017

DFCC Bank Re-Launches Vardhana Sahanaya to Help Rebuild Communities Affected by Natural Disasters

DFCC Bank has re-launched Vardhana Sahanaya to help people affected by adverse weather conditions rebuild their lives in the aftermath.

The loans offered include Personal, Housing, Education and Business Loans. Going beyond providing short-term relief, the Bank is focusing its efforts on facilitating a long-term rebuilding initiative by providing individuals and enterprises affected by the floods with low-cost personal and business loans.

Individual salaried earners who have been affected by the floods will be eligible for personal loans to rebuild their damaged properties.

More information can be sought by calling the Bank hotline or visiting the nearest DFCC Branch.

Institutional Capital

June 2017

DFCC Bank Introduces Cloud-based Planning and Budgeting Service

DFCC Bank and Synapsys along with their partner Oracle, recently launched the Oracle Planning and Budgeting Cloud Service.

In doing so, DFCC became the first bank in the ASEAN region to implement cloud-based planning and budgeting services and the first bank in Sri Lanka to implement a product on the Oracle Cloud.

The technology will improve overall budgeting performance, refine responses to market volatility and support key operational areas of IT and Finance. It will similarly eliminate costs on hardware, tech support and upgrades.

The team that spearheaded the project from DFCC, Synapsys and Oracle

Business Partner Capital

June 2017

DFCC and DIMO Join Hands to Offer Affordable Leasing of TATA Vehicles

DFCC Bank recently signed a Memorandum of Understanding (MoU) with Diesel and Motor Engineering PLC (DIMO), to facilitate the leasing of TATA vehicles at an affordable price, to customers across its Branch network.

The MoU was signed by the CEOs of both organisations, at a gathering that took place at the DFCC Head Office.

DIMO is the sole authorised agent for TATA light and intermediate commercial vehicles in Sri Lanka.

Through the leasing partnership, customers can expect to benefit from discounts on selected TATA lorries, pick-ups, heavy duty trucks and buses.

L-R Sampath Kumarasinghe - DGM - TATA commercial vehicle sales, Madu Singh - Country Manager - TATA Motors, Nalinda Kurukulasooriya - GM - TATA commercial vehicle sales, Vijitha Bandara - Director DIMO, Gahanath Pandithage - Group CEO DIMO together with the DFCC team; Arjun Fernando, Lakshman Silva, Gillian Edwards, Bhathiya Alahakoon and Rasika Senaratna

Social and Environmental Capital

May 2017

Planting Trees to Commemorate Staff Birthdays

The sixth tree planting initiative to commemorate staff birthdays which was scheduled for 27th May in Kottawa was postponed due to adverse weather. The date will be re-scheduled once the prevailing weather conditions improve.

The table below records the initiatives undertaken so far:

Place held Date held Trees planted Trees for Staff
1. Aranayake 28 January 960 160
2. Kaduwela 4 February 1,000 100
3. Jaffna 17 February 1,000 -
4. Duplication Road, Colombo 3 and 4 19 March 30 30
5. Thalawila 25 March 1,000 105
Total   3,990 395

Some photos of our efforts are below:
Jaffna on 17th February

Thalawila on 25th February

Employee Capital

May 2017

Basketball Achievements

DFCC Bank’s Roshan Fernando and Rajitha Hettiarachchchi were selected to represent Sri Lanka at the upcoming Basketball Tournaments of the South Asian Games and International Tour Champ respectively.

Also, Christie Mariathasan of DFCC Bank has been appointed by the Sri Lanka Basketball Federation as the Country Representative / Director 3X3 Development for the 3X3 Basketball Game in Sri Lanka.

Social and Environmental Capital

May 2017

Solidarity during Difficult Times

The recent adverse weather conditions brought about significant hardship to the population of Sri Lanka. Many people were displaced due to the heavy rains. Thousands lost their homes and livelihoods. Many of the employees of DFCC Bank were affected as well.

DFCC Bank further initiated a three-pronged emergency relief plan focused on assisting staff, clients and the general public who have been affected.

The Akuressa Branch of the Bank, in collaboration with the Akuresse Base Hospital, also organised a medical camp at its premises to provide medical assistance for people in the local area.

The relief pack operations

Medical Camp held in Akuressa

Social and Environmental Capital

May 2017

Sustainability Unit to Launch E-Waste Bins

The Sustainability Unit of DFCC Bank launched an e-waste collection system on the 1st of June. This was one of several initiatives launched by the Bank to commemorate World Environment Day.

The programme was initially launched at the Head Office and Nawala Branch. An e-waste bin was placed permanently at these locations for staff to conveniently dispose of related waste.

Large items that do not fit the bin can be brought to the notice of the Sustainability Unit via e-mail.

Customer Capital

May 2017

DFCC Bank Participates at Build SL - Expo 2017

DFCC Bank participated in the Build SL - Expo 2017 exhibition recently. This is the largest Housing and Construction Exhibition in Sri Lanka. The event was held from the 26th to the 28th of May at the BMICH.

The Bank participated with the objective of promoting its range of Sandella Housing Loans.

The product being offered comes along with a complimentary fire insurance policy.

The initiative was successful, with a significant number of leads being generated.

Employee Capital

May 2017

Corporate Banking Hosts Annual Trade Cocktail

The Corporate Banking team held their Annual Trade Cocktail at the DFCC Auditorium last Friday. This was to recognise and thank long-standing customers for their patronage of the Bank.

The Bank prides itself on sustaining close relationships with all its customers, and this event was one of many in which we further rekindle our associations.

Employee Capital

May 2017

Award Winners 2016

The DFCC Annual Awards ceremony which was held recently at the BMICH, recognised the many and varied contributions that DFCC staff made throughout the year.

A full list of award winners is provided below:

1. Best Other Income Contributor
Winner: Kurunegala Branch
Runner Up: Nawala Branch
Second Runner Up: Kandy Branch
2. Best Other Income Contributor (Trade)
Winner: Corporate Banking
Runner Up: Business Banking
3. Best Performing Branch (Best New and Upcoming Branch Category)
Winner: Gangodawila Branch
4. Best Performing Branch (Small Category)
Winner: Kotahena Branch
Runner Up: Ambalangoda Branch
Second Runner Up: Piliyandala Branch
5. Best Performing Branch (Medium Category)
Winner: Maharagama Branch
Runner Up: Ratnapura Branch
6. Best Performing Branch (Large Category)
Winner: Nawala Branch
Runner Up: Dambulla Branch
7. Outstanding Team Effort
Branch Opening Team:
Gaminda Fernando – Services & Procurement
Lapalu Wijerathne – Services & Procurement
Priyantha Jayawardena – Services & Procurement
Delan Mendis – Services & Procurement
Prasad Fonseka – Operations
Rivindhu Chandrasekara – Operations
Duminda Silva – Consumer Banking
Meshara Perera – Marketing
Dileepa Wijesuriya – Marketing
Harsha Jayasanka – IT
Deepal Wijesuriya – IT
Rajindra Fernando – HR
Subhashini Senarathne – HR
Shanika Mendis – HR
Bamini Nithyanandan – HR
8. Winner of the CEO’s Award For The Most Outstanding Contribution To The Bank 2016
Christie Mariathasan

 

Social and Environmental Capital

May 2017

TAKE YOUR OWN BAG (TYOB) Initiative Shows Marked Success

All DFCC Staff members have now been provided with DFCC Bank reusable shopping Bags.

If it is assumed that each employee of the Bank uses 12 polythene bags per week for their shopping; switching to these reusable bags will save approximately 84,000 bags from going into landfills each month. This comes to a total of one million bags being saved in a year!

DFCC Bank hopes that all individuals will adopt the concept of using reusable bags.

Employee Capital

May 2017

A Story of Professionalism and Commitment

A team of employees at the Piliyandala Branch of DFCC Bank went out of their way to aid an customer.

This was in helping the customer clear the title of the property he was bringing forward as collateral. This was a long-unresolved issue for the customer, and he was immensely grateful for the entire team’s efforts in helping him rectify the situation.

A solid working relationship has in addition been secured between the client and the Bank.

Business Partner Capital

May 2017

DFCC Cracks CGI Account

CGI Federal Inc has moved their account from a foreign bank to DFCC as of 26th April 2017, to aid in their collection of US Visa fees.

Founded in 1976, CGI is one of the largest IT and business process service providers in the world.

Commenting on this initiative, Mr. Lakshman Silva said, ‘We are honoured to have been chosen by such a large global organisation as their exclusive partner for US Visa fee collections. We are committed to delivering a superior level of service to everyone that walks into our Branches to execute their Visa payments’.

Business Partner Capital

May 2017

DFCC Bank Ties Up With ThePapare.com for the Schools’ Rugby Season

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DFCC Bank has partnered with ThePapare.com to disseminate knowledge in the form of articles about rugby, in order to reach students and alumni who are interested in the sport.

The Schools Rugby League is an eagerly-awaited annual event. This year, the school rugby season has been more intense than ever, with all participating teams competing strongly.

DFCC has successfully disseminated in-depth news and analysis of the rugby season through its Know and Grow campaign by interviewing past players, coaches and educating sports enthusiasts and the public at large about the League and the Tournament.

Financial Capital

May 2017

DFCC Strides Forward

For the first quarter ended 31 March 2017, the DFCC Group reported a consolidated profit after tax (PAT) of LKR 1,373 million, which is a growth of 42% over the LKR 970 million recorded for the equivalent period last year.

The Bank recorded a 65% growth in profit before tax (PBT) and a 45% growth in profit after tax (PAT).

Due to the timely repricing of its assets and liabilities, the interest margins of the Bank improved to 3.6% from 3.3% during the previous quarter, which contributed towards augmenting the net interest income.

Customer Capital

May 2017

DFCC Bank Takes Banking Transactions to Customers’ Doorstep With Mobile Teller

The Bank launched the ‘Mobile Teller’ application, a digital banking service, in collaboration with SYNAPSYS.

This doorstep banking service is conducted by a staff representative, who accepts cash deposits in real time via a mobile device. This offers customers the option of executing cash deposits at a location of their choice situated within 10 kilometres of a Branch that offers the service.

The service is simple to use and does not require any registration. The user will need to inform the Bank of the requirement at a prearranged time.

Social and Environmental Capital

April 2017

Avurudu Pola 2017

The DFCC annual Avurudu Pola was held recently with much fanfare. This utilised both the Bank’s Auditorium and external premises at a church.

Stalls were erected with vendors selling items ranging from clothes, jewelry, and books to delicacies and pet-related items. The most popular stall was the stall selling isso wade (batter-fried prawn cakes); which encountered some impressive queues!

Social and Environmental Capital

April 2017

Newspaper Drive Conducted by Community Projects Team

DFCC Community Projects recently wrapped up its one-week drive in collecting newspapers and selling the items for a worthy cause. The proceeds of the collection, along with contributions from the Bank, will go towards issuing each of the Bank’s employees with a durable and eco-friendly shopping bag. This will contribute to lessening the Bank’s dependence on plastic shopping bags.

The Bank would further like to thank all Branches and departments who actively took part in this initiative, which will contribute towards reducing the carbon footprint of the Bank as well.

Social and Environmental Capital

April 2017

DFCC Bank Participates at Career Fair Organised by the University of Colombo

DFCC Bank recently took part in the career fair held by the University of Colombo. This was with the intention of looking for high-potential candidates for recruitment and also to provide guidance to graduates in terms of career advice and interview preparation tips.

The event was a marked success.The DFCC stall saw a significant turnout, with a long list of potential candidates who wished to be interviewed by our panelists.

Employee Capital

April 2017

Four Staff Members Recognised at the First Rewarding Excellence Ceremony of the Year 2017

The Rewarding Excellence Ceremony for the first quarter of DFCC Bank’s operations was conducted in April 2017. The event was held under the patronage of members of the Board, senior management, and members of the staff.

The Chairman of DFCC Bank, Mr. Royle Jansz, thanked all laureates for their contributions and wished them continued success ahead. The CEO of DFCC Bank, Mr. Arjun Fernando, echoed these sentiments and felicitated the HR team of the Bank for their efforts in motivating staff and organising the Awards ceremony.

The awards handed out were as follows:

Pro Productivity Award Winners:

Dilini Perera

Stephanie Rayen

Sivapragasam Thivagaran

Living the Values Award Winners:

Farah Wijayakumara

Customer Capital

April 2017

DFCC Bank Opens Two New Branches in Ambalantota and Wattegama

In line with its strategy to rapidly expand and reach all corners of the island, DFCC Bank inaugurated two new branches at Ambalantota and Wattegama. The branches were declared open by Mr. Lakshman Silva, in the presence of senior representatives and staff from the Bank and representatives from the local community.

DFCC’s new Ambalantota branch is located at No. 94, Main Street, Ambalantota and the Wattegama branch is located at No. 136, Kandy Road, Wattegama.

Ambalantota

Wattegama

Social & Environmental Capital

March 2017

We are mindful of the ways in which our operations impact on communities and the environment. The Bank continually promotes sustainable initiatives in the environments in which we conduct our activities; which consequently form our social and environmental capital. Our employees are always encouraged to engage in community efforts along with our corporate social responsibility activities. Further details on these and more can be accessed from our Annual Report 2016.

Business Partner Capital

March 2017

We are cognisant of the fact that our operations thrive on the many interlinks we sustain with our cherished and trusted partners. The Bank is pleased of the strong relationships it has forged over the years with diverse local and global organisations that constitute its Business Partner Capital. Further details can be accessed from our Annual Report 2016.

Employee Capital

March 2017

Employee capital is also a constituent of external capital. Our employees are the strength of our operations, and it is their dedication and contributions that powers our success. We enjoy the benefits of a highly-skilled and multi-disciplinary staff who function to global standards. Further details can be accessed from our Annual Report 2016.

Customer Capital

March 2017

Customer capital is another constituent of external capital. Our customers are the cornerstone of our existence. We furnish them with a comprehensive portfolio of products and services encompassing the entire range of both traditional and electronic banking systems. Further details can be accessed from our Annual Report 2016.

Investor Capital

March 2017

Investor capital is a constituent of external capital. Investor capital consists of individuals and organisations providing equity and debt capital to our operations. In doing so, they expect returns over the short, medium and long-term.

The Bank generates reciprocal earnings whilst operating under the controls of secure risk management policies and control frameworks. Further details can be accessed from our Annual Report 2016.

Institutional Capital

March 2017

Institutional capital is also a constituent of internal capital. It represents the abstract entities that underpin our operations; to include; organisational knowledge, systems and processes, corporate culture, values, brand equity, business ethics, integrity and all other associated matters. It is the sum of these that; amongst others; give us an unique competitive edge in our business environments. Further details can be accessed from our Annual Report 2016.

Financial Capital

March 2017

Financial capital is a constituent of internal capital. As it is quantifiable, it is represented in the financial statements of the DFCC Group. Financial capital is utilised for investing in economic capital. Further details can be accessed from our Annual Report 2016.

Employee Capital

February 2017

Felicitation Party

A felicitation party was held to congratulate and recognise members of the DFCC team who had gone beyond their recognised roles to participate in clubs and committees, train and interview candidates and represent the Bank at various miscellaneous activities conducted throughout the year.

The party was conducted at the DFCC Head Office premises with the attendance of the Board of Directors and Senior Management.

It was a memorable evening with good food and music featuring a live band.

Photo opportunities were also arranged for the various committees and teams. The DFCC theme song was sung in English, Sinhala and Tamil.

We, at DFCC Bank, are indebted to the staff members who contribute immensely in making DFCC Bank a ‘Great Place to Work’, and thank them profoundly for their continued support and efforts.

Employee Capital

February 2017

DFCC Stars Shine At The APB Talent Show

The Inter-Bank Talent Show organised by the Association of Professional Bankers was recently conducted at the Bishop’s College Auditorium.

It featured a selection of musical and dance performances from over 50 representatives of the banking sector of Sri Lanka.

The event was a rousing success in helping fostering fellowship amongst the banking community.

DFCC Bank was represented by Shanika Mendis of Human Resource Development (HRD), Gurney Pearson of the Matara Branch and Achini De Silva from the Head Office Reception. Shanika teamed up with Gurney for a powerful rendition of the song ‘You Raise Me Up’ whilst Achini joined forces with Hasuru from People’s Bank to sing the popular Sinhala song ‘Heenayaki Mata Adare’.

It was a memorable night as the participants from DFCC showcased their many talents, and acted as fantastic ambassadors to make the Bank proud.

Institutional Capital

February 2017

DFCC Receives ISO 27001:2013 Certification

We were awarded the above certification in recognition of our implementation of best practices in legal, physical and technical control for information security management.

In 2014, the Central Bank of Sri Lanka (CNSL) implemented a Baseline Security Standard (BSS) for the banking and financial sector to identify and mitigate risks that could affect information assets and systems. The BSS is an extract of the ISO 27001 International Standard.

In addition to giving us a competitive edge in the industry, this certification will aid us in numerous ways, to include; improving our operational efficiency, reducing costs, providing assurance to clients and suppliers, improving security through continuous ISO audits, enabling risks to be managed at an acceptable level, improving the security awareness and work ethic amongst staff, enhancing internal information-handling processes and minimising the impact of adverse events.

Financial Capital

February 2017

DFCC records a stand-out performance for 2016

The financial year ended 31st December 2016 was the first full year of operations following the merger of DFCC Bank with DFCC Vardhana Bank.

We expected significant results based on the resulting synergies and blending of our development and commercial banking operations.

We were not disappointed, as shown by our results: our Profit after Tax (ignoring extraordinary capital gains) crossed the LKR 3.0 billion mark for the first time in our history.

We similarly excelled in our employee engagement and brand consolidation.

Total income grew by 35% to reach LKR 2. 68 billion, and our operating income surpassed the LKR 11 billion mark. Total assets grew by 18%, and our national rating was re-affirmed by Fitch Ratings Lanka Limited at AA- (lka).

Despite an additional head count and an increase in overhead expenses following the amalgamation, our net profit per employee rose by 30%. Our cost to income ratio was recorded at 45%, to give one of the most commendable figures in the country.

Customer Capital

February 2017

DFCC Bank Revamps the Small Enterprise Sector

With six decades of experience in nurturing small and medium businesses in becoming leading enterprises, the Bank is pleased to launch Vardhana Sahaya; a new product dedicated to the SME sector offering a range of financial services including loans, leases and bank guarantees.

The benefits of this product are manifold. It will offer customised and flexible financial solutions to customers. The Bank will complement these with advisory services and entrepreneur development schemes conducted island-wide.

The service will additionally help build business potential and credit-worthiness over the assets offered by the client.

The Bank has, over the decades, built strong relationships with its rapidly-growing customer base and remains committed to providing them with innovative and responsible financial solutions.

Customer Capital

February 2017

Valentine’s Day Deals on the Vardhana Virtual Wallet

Customers who made purchases using the VVW at select merchant outlets were eligible for discounts up to 20% on select items. The offers were valid until the 15th of February.

Customer Capital

February 2017

Newest Fully Fledged Branch Opened In Nawalapitiya

The Bank’s newest fully-fledged Branch was opened in Nawalapitiya on the 6th of February, in line with the Bank’s expansion strategy.

Our network is rapidly growing, and has extended its reach throughout Sri Lanka.

The new Branch is located at No. 13B, Council Road, Nawalapitiya, and offers the full range of commercial and development banking services. It can be contacted by phone on 054-2222850/ 2223508.

Employee Capital

February 2017

DFCC Staff donate generously towards Cancer-Awareness programme

The HR team of DFCC Bank would like to take this opportunity to thank all members of staff who contributed generously towards raising awareness on breast cancer during the month of October 2016.

The amount raised was matched by the Bank, and the funds were utilised to co-sponsor a programme for breast cancer survivors organised by the non-profit Can-Sur-Vive.

The programme was held at the Lanka Hospitals Auditorium and provided cancer survivors with important information on health and support.

Social and Environmental Capital

February 2017

DFCC Bank launches tree-planting initiative

As part of its CSR and sustainability initiatives, the Bank launched this feature with the aim of planting a tree to celebrate the birthday of every employee of its staff.

A member of staff will receive a personalised invitation to attend the planting ceremony, as well as an e-tree dedication certificate providing a link to find the exact location of the planted tree on Google Maps.

This programme is conducted in collaboration with Rainforest Lanka, a non-profit dedicated to the protection and extension of forest cover in Sri Lanka.

In January alone, the Bank planted a total of 960 trees in Aranayake. 160 of these were to commemorate staff birthdays. To coincide with Independence Day celebrations, a further 1,000 trees were planted along the Kaduwela-Kadawatha Highway. The Bank oversaw the planting of 1,000 additional trees at the University of Jaffna towards the end of February.

The trees will be instrumental in reforesting vulnerable regions of the island. In doing so, they will improve both soil and air quality and help combat soil erosion.

Customer Capital

February 2017

DFCC’s ‘Know & Grow’ campaign fosters customer engagement

The Bank launched the campaign to coincide with Independence Day in Sri Lanka. The campaign aimed to familiarise the public with the elements that made up the national flag of the country.

The Sri Lankan flag is one of the most locally searched-for items on Google. Banking on this, we created an interactive digital activity whereupon users can assemble the flag using each of its elements, and receive information on each component while doing so. Those who successfully completed the activity were rewarded with a gift, which they could collect from the nearest DFCC Branch.

Mr. Arjun Fernando, the CEO of DFCC Bank added: ‘DFCC Bank is continually looking for ways in which we can add value to the citizens of Sri Lanka. The launch of this campaign, in an engaging format that appeals to people of all ages, was a way of communicating with the public and enhancing their knowledge. DFCC Bank remains committed to inspiring individuals through public initiatives and contributing towards the growth and development of the country.’

Social and Environmental Capital

January 2017

CSR committee begins its activities in the New Year

The Bank’s CSR Committee was formed with the objective of nurturing a working culture that honours social responsibility.

The Committee continually encourages staff members to take part in their initiatives. Together, they are instrumental in transforming and uplifting communities for the benefit of all.

The Committee is formed of Tikiri Thotamune, Shanya Pandithakoralage, Senaka Jayasinghe, Pradeepan Sivalingam, Sareeka Gunatunga, Gayathri Sivayoganathan and Rachitha Dayaratne.

In December 2016, the Committee obtained toys, books and stationery for the children at Learning Tree Montessori in Mount Lavinia; which educates children from disadvantaged backgrounds. The school functions on donations made by sponsors and the public, and greatly appreciated the items that were gifted to them.

The Committee is actively looking for other charities that require help and support.

Customer Capital

January 2017

DFCC offers convenient banking solutions in Hikkaduwa

The Bank’s fully-fledged Hikkaduwa Branch was opened by Mr. Arjun Fernando and Mr. Lakshman Silva on the 26th of January 2017, under the patronage of members of the staff and individuals from the local community.

The Branch offers a comprehensive portfolio of retail banking solutions in hand with corporate and SME Banking services. Customers visiting the Branch can thus enjoy a streamlined and holistic banking experience.

The Branch is located at No. 249, Galle Road, Hikkaduwa and can be contacted by phone on 091-2275899/ 091-2276920 and fax on 091-2276921.

Social and Environmental Capital

January 2017

DFCC REDS Scavenger Hunt

The Reds Scavenger Hunt took place on the 7th of January, with a widespread participation from across the Bank’s branches. Competitors were assigned into one of ten teams by the committee.

The teams were then handed a sequence of creative tasks spread around Colombo. These included jogging two rounds around Independence Square to count the stone lion figurines, obtaining a take-out menu from an Indian restaurant and performing the Macarena at Liberty Plaza! The teams who were the quickest to successfully complete all the assigned tasks were duly rewarded.

Mr. Nalin Karunathilaka and Mr. Channa Dayaratne presented the winners with their prizes.

Social and Environmental Capital

January 2017

DFCC Bank attends the EDEX EXPO Career Fair 2017

The Bank featured at EDEX EXPO Fair held at the BMICH in Colombo 07. An impressive turnout of undergraduates, graduates and professionals attended the event. Many individuals were interested in the placement opportunities available at the Bank. A cross-functional team representing the Bank conducted interviews with potential applicants.

The team carried out additional initiatives such as providing interviewees with interview tips and career guidance for their future success.

Customer Capital

January 2017

The Pettah Branch of DFCC Bank is officially opened

The Pettah branch of DFCC Bank was officially opened on Wednesday, under the patronage of Mr. Arjun Fernando, Mr. Lakshman Silva, members of the staff, senior representatives and members of the community.

The Branch offers the entire range of retail banking services to customers. Pettah, being the trading and commercial hub of the city, will additionally benefit from the Bank’s expertise in corporate and SME banking.

The Branch is located at No. 143, Main Street, Colombo 11; and can be contacted by phone on 011-2337707/ 011-2337708 and fax on 011-2337709.

Employee Capital

January 2017

Retired employees of DFCC Bank attend luncheon.

Former employees of DFCC Bank attended a luncheon hosted by Mr. Arjun Fernando and Mr. Lakshman Silva. This saw the participation of over 100 retired employees. The event was held at the auditorium, and it was a memorable occasion as they reminisced about their past days at the Bank. Long-standing staff were equally present at the event; which gave them an opportunity to catch up with their former colleagues.

Our staff and former staff are what makes DFCC what it is, and we are always grateful for their contribution.

Customer Capital

January 2017

DFCC Bank’s opens fully-fledged Branch in Wennappuwa

The Bank opened a new fully-fledged branch in Wennappuwa, under the patronage of Mr. Arjun Fernando, Mr. Lakshman Silva, members of the staff and other prominent individuals of the community.

The Bank has located its services in a strategic location to meet the increasing demand for its products and services as a fully-consolidated commercial bank. The new Branch will offer customers a wide array of retail banking facilities and services.

The Branch is located at No. 194, Colombo Road, Wennappuwa, and can be contacted by phone on 031-2253653/ 031-2251994, or fax on 031-2253994.

Employee Capital

January 2017

DFCC Tennis closes 2016 on a high note.

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The DFCC tennis team cinched the runner-up position at the Mercantile Tennis Tournament, showcasing an impressive performance. The first place was awarded to MAS Holdings and Standard Chartered Bank emerged at third place.

The stand-out performance was recorded by Mr. Arjun Fernando, the CEO of DFCC Bank; and Mr. Neil de Rose, who with their combined efforts, won the runner-up position in the Men’s Over 35 doubles.

The DFCC team was additionally comprised of Ravinda Gunawardena, Tharindu Paranathanthri, Manouri Liyanage, Nishani de Soyza, Sriyani Ranatunga, A. D. A. Rishan, Lakshan Kumarajeeva, Anandakumara Perumal, Malintha Wijewardena, Dharshika Sudharshini, Kanishka Ratnayake, Asanga Goonatilaka and Niroshana Chaminda.

The DFCC team has been a key player in the Mercantile Tennis tournaments in the past years, garnering many impressive victories.

Social and Environmental Capital

January 2017

DFCC collaborates with AIA Insurance to host event for SME proprietors in Kurunegala.

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AIA Insurance hosted an event in Kurunegala for 60 small and medium enterprise (SME) proprietors in collaboration with the Kurunegala Branch of DFCC Bank.

The event was held at the Kandyan Reach Hotel, and aimed to raise awareness on the mitigation of risks associated with business and life.

The event was well-received by the attendees.

Customer Capital

January 2017

DFCC Bank’s branch network is expanded in the New Year

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DFCC Bank added six new branches to its growing network. The branches are located in Kahawatta, Kochchikade, Giriulla, Wennappuwa, Pettah and Hikkaduwa.

The Bank remains focused in driving financial inclusion by enabling more individuals to access its services while simultaneously reaching out to new retail and business customers.

The Bank offers a comprehensive portfolio of commercial banking services to include current and savings accounts, fixed deposits, loans, pawning services, leasing facilities, NRFC/RFC accounts, credit cards and remittances. Customers can equally avail themselves of the Bank’s expertise in corporate and SME banking.

DFCC Bank adopts a dynamic approach in its expansions to uphold its commitment to remaining customer-centric. The Bank has adopted its services onto multiple digital platforms to reflect changing trends as well.

Employee Capital

December 2016

DFCC Toastmasters organise Christmas Carols

To further spread the Christmas spirit, the DFCC Toastmasters organised an evening of Christmas carols on our premises on the 19th of December. This was an inaugural event, and showed widespread participation; to include the Chairman and members of the Board. The choir sang a variety of Christmas classics, and the event concluded with a sing-along that saw the participation of all.

Customer Capital

December 2016

Premier Centre gets a new look

Our Premier Centre celebrated the launch of its refurbished premises with a cocktail event on the 15th and 16th of December 2016. The event was attended by many of our esteemed clients.

Social and Environmental Capital

December 2016

DFCC Bank – The Premier Renewable Energy Financing Institution.

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The Bank is proud to be the leading financier of Sri Lanka’s premier utility-scale, grid-connected, solar power project. This is being developed by Sagasolar Power (Pvt) Ltd, and is situated in Habantota.

The project is expected to add 19GWh of clean, green energy to the country’s national grid for 25 consecutive years.

The Bank is equally financing a similar 10MW solar project being developed at the same location by Anorchi Lanka (Pvt) Ltd.

These developments follow DFCC Bank’s strong track record in financing renewable energy projects in Sri Lanka, commencing with the first grid-connected, mini-hydro power plant in 1996.

In 2010, the Bank financed the first-ever wind power project in Sri Lanka, and extended its expertise to developing a cost-based, technology-specific tariff structure for the project. This resulted in commercial results which spurred the adoption of this new technology. The Bank has equally financed turbine manufacturers to benefit both local and foreign hydro-power plants.

Customer Capital

December 2016

DFCC launches an unique saving proposition for families in the New Year.

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The Bank launched the above feature on the 1st of January 2017.

Family members who opened two or more saving accounts with a combined deposit of Rs. 25,000 received an instant cash reward or DFCC gift voucher which could be redeemed at select merchant outlets island-wide.

A deposit of Rs. 25,000 in a Children’s savings account rewarded the depositor with similar cash rewards or gift vouchers. The Vardhana Virtual Wallet was also offered on a complimentary basis for all account-holders, and Vardhana Garu Saru holders received a loyalty card.

These initiatives were to encourage families to save together, and thus secure their financial futures by becoming powerful economic units. We equally encouraged families to set a positive example to their children by demonstrating and encouraging the practice of saving.

A range of other benefits were made available to customers. These included advances of up to 100% on savings accounts or fixed deposit balances, advances of up to 100% on monthly salaries deposited into salary booster accounts and a 10% discount when using the Vardhana Virtual Wallet at select merchant outlets.

Social and Environmental Capital

December 2016

DFCC Bank celebrates the spirit of the season

The Bank was active in its efforts to spread the festive spirit in Colombo during the holiday season.

The Bank was a key sponsor of ‘Tourism Fest 2016’ held at Arcade Independence Square from the 21st to the 23rd of December. The highly-anticipated event was organised by the Ministry of Tourism Development and Christian Religious Affairs and was inaugurated by several distinguished guests.

DFCC Bank equally sponsored the installation of the venue’s Christmas tree.

The event featured four days of Christmas-themed events and entertainment, including musical performances, games and activities.

The Bank equally contributed to decorating the Galle Face roundabout, with the addition of festive lights and décor.

Social and Environmental Capital

December 2016

DFCC Bank signs MoU for disposal of E-waste

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DFCC Bank entered into a Memorandum of Understanding (MOU) with Think Green (Pvt) Ltd for eco-friendly waste management. The signing took place at the DFCC Head Office on the 28th of November. This represents yet another green banking initiative in the Bank’s portfolio of sustainable banking principles.

Think Green (Pvt) Ltd is a pioneer in providing safe and reliable electronic waste management in Sri Lanka. It is approved by the Central Environment Authority (CEA) for the collection and disposal of e-waste. Think Green will collect material for recycling from the DFCC Head Office as well as the branches at Ramanayaka Mawatha and Nawala.

The MoU represents a join effort in rectifying the threats posed by e-waste to the environment and human health.

Employee Capital

December 2016

DFCC Quizzers shine at the Annual Trade Finance Quiz

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The DFCC Quiz Team flashed their colours as they finished in fourth place at the Annual Trade Finance Quiz. It was a tight challenge to rank in the top three, as at one point DFCC Bank was tied for third place with Team A from Seylan Bank and Team B from Commercial Bank. Following the tie-breaker round, DFCC Bank beat Commercial Bank to secure the fourth spot.

The quiz consisted of four categories: Current Affairs, International Trade, International Affairs and Sports and Entertainment. DFCC Bank ranked first in the Current Affairs and International Affairs categories.

The team comprised of Nalin Karunathilake (Project Management), Aruna Dissanayake (Regional Office: Central Region), Dilshan Dodanwala (Treasury), Sajitha Jayakody (Trade Services) and Tikiri Thotamune (Trade Services).

The Annual Trade Finance Quiz was organised by the Trade Finance Association of Bankers and held at the Kingsbury Hotel, and saw the participation of 29 teams representing commercial banks.

Business Partner Capital

December 2016

DFCC Bank partners with AIA to offer innovative Bancassurance solutions

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DFCC Bank recently entered into an exclusive long-term Bancassurance partnership with renowned insurance provider, AIA. This will offer the Bank’s customers exclusive access to a range of innovative savings options, insurance policies and services. Customers can avail themselves of attractively-priced insurance and banking solutions to meet their diverse needs.

The partnership with AIA will equally enable DFCC to diversify its product portfolio and expand its objectives.

Mr. Pankaj Banerjee, the CEO of AIA Sri Lanka, noted: ‘Our mutual partnership will now allow us to give multiple access points to Sri Lankan customers to ensure that they get the financial advice they seek.’

AIA’s partnership with DFCC commenced as a distribution agreement in 2014, and has now evolved to a strategic 20 year partnership. This progression is evidence of not just the mutual strengths between the two parties, but also the great potential of Bancassurance in Sri Lanka.

Institutional Capital

December 2016

DFCC Bank is the first Bank in Sri Lanka to adopt GSuite

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DFCC is to transfer all its services onto the Google cloud. The cloud-based tools on offer will enhance communication, real-time collaboration, productivity and work-flow within the 1, 500 employees that constitute our workforce.

The CEO of DFCC Bank commented on the service, highlighting its many benefits. Employees will be able to access information from both desktop and mobile devices, which will facilitate flexibility and mobility. The cost-efficiency of processes will also increase. Similarly, the Bank’s customers will also see benefits with regards to improved systems and processes, faster response times, and product and service innovations.

DFCC Bank remains committed to investing in technology to drive excellence in service and product innovation. The Bank has made significant steps to digitise and simplify its procedures. Some innovations it has brought to light include the Vardhana Virtual Wallet, the Lanka Money Transfer system and the Supplier Settlement System.

Customer Capital

November 2016

DFCC’s Vardhana Virtual Wallet further enhanced

DFCC Bank’s innovative mobile application, the Vardhana Virtual Wallet, has been upgraded to extend its use to non DFCC Bank customers as well. Thus, any individual with a registered local mobile number, who is a resident of Sri Lanka and aged 18 or above can now avail themselves of the free service by completing a one-time registration at any DFCC branch or service point.

The user can then top up funds at select merchant outlets, or receive funds from existing application users. The application can then be used to purchase goods and services, pay utility bills and execute monetary transfers: anytime and anywhere.

The application can further enable users to manage and organise their finances efficiently, as their bank accounts are linked to the application. This assures a new level of financial freedom and flexibility.

DFCC Vardhana Virtual Wallet, the first of its kind in the country’s banking industry, further encourages individual users and merchants to move away from the traditional use of physical cash, for advanced ease and convenience.

Investor Capital

November 2016

DFCC Bank issues debentures

DFCC Bank PLC issued debentures to raise LKR 4 billion, with an option to go up to LKR 7 billion, in the event of an over-subscription. The purpose of this issue is to strengthen the Tier II capital of the Bank while supporting its lending operations in the Corporate, Business and SME sectors. In addition, it will mitigate the Bank’s interest rate risk by reducing mismatches in the maturity of assets and liabilities.

The debentures are rated A+ (lka) by Fitch Ratings Lanka Ltd and is attractively structured with tenures of five and seven years, carrying fixed annual coupons of 12.15% and 12.75% respectively.The subordinated, redeemable and unsecured debentures will be listed in the Colombo Stock Exchange where the minimum subscription is LKR 10,000.

The issue was opened for subscription on the 02nd of November 2016.

The issue is structured by DFCC Bank’s Treasury and Resource Mobilisation Unit and managed by Capital Alliance Partners Limited and Acuity Partners (Pvt) Ltd.

Social & Environmental Capital

October 2016

REDS CSR Project 2016

The DFCC REDS CSR project for 2016 was held at Abakolaweva Primary School in Tangalle.

The main school building was renovated under this project. The entire roof of the building was replaced and the whole structure was painted.

The project was successfully completed and the building was handed over on 09th October 2016 with the participation of the school principal, the zonal educational director, the DFCC Reds committee and Mrs. Namali Sirithunga, the DFCC Hambantota branch manager.

REDS wishes to thank everyone for the tremendous support they executed in purchasing raffle draw tickets and making monetary donations. Their contribution assured the immense success of this project and helped secure the future of numerous deserving schoolchildren.

Social & Environmental Capital

October 2016

DFCC Bank Celebrates Children’s Day On 8th October

An art competition was held to celebrate Children’s Day on the 8th of October. The competition was spread across the regional offices located in Wellawatte, Nawala, Kandy, Jaffna, Kaduruwela, Matara and Negombo, and was based on the theme of Growth.

There was significant participation across all regions. Children ranging from ages 6 to 12 took part in the events. Overall, over 150 children took part, and this was a great opportunity for the Bank to engage with local communities.

The top three winners were judged by the senior management in each region. In some instances, prominent people from the community were involved in the judging process as well.

The top prize winners were gifted a Vardhana Junior Account with deposits of Rs 10,000, 5,000 and 2,500 respectively. Participants also received gift packs and certificates of participation.

Business Partner Capital

October 2016

DFCC Bank partners with Sathosa Motors to offer attractive leasing solutions

DFCC Bank signed a memorandum of understanding (MoU) with Sathosa Motors at the DFCC head office. This will facilitate the leasing of ISUZU branded vehicles for DFCC’s customers, allowing customers the opportunity to purchase a vehicle of good quality at a lower cost. Sathosa Motors is the sole authorised agent in Sri Lanka for ISUZU commercial vehicles. ISUZU is regarded as the foremost Japanese brand for commercial vehicles in the world.

Mr. Arjun Fernando, the CEO of DFCC Bank commented: ‘We are pleased to sign an MoU with Sathosa Motors as this arrangement enables us to offer multiple benefits to our customers, as well as helping us in expanding our leasing portfolio. DFCC Bank is committed to meeting the aspirations of our customers by entering into such fulfilling relationships’.

Mr. Tilak Gunasekara, the Managing Director/ CEO of Sathosa Motors, added: ‘We are delighted to enter into a partnership with DFCC Bank, and hence offer attractive discounts and benefits for our mutual customers’.

Business Partner Capital

October 2016

DFCC Bank secures loan from the Middle-East to fuel off-shore expansion plans

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On the strength of its credentials and sound track record over a period of six decades, DFCC has been fruitful in raising funds for its developments in the Middle East.

An US Dollar loan facility over the term of three years was thus secured by DFCC Bank from the National Bank of Ras Al Khaimah (RAKBANK), of the United Arab Emirates (UAE). Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE, acted as the sole financial advisor to the transaction.

Through the growth of all sectors, DFCC is now a technologically-enhanced modern commercial bank that supports a broad and diversified clientèle. This added capital will further ensure the long term expansion plans of the Bank of its offshore banking unit (FCBU).

This long-term funding opportunity is also a welcoming sign for the local banking industry of Sri Lanka, as it reinforces faith in industry prospects and the general trajectory of the national economy.

Business Partner Capital

October 2016

DFCC Bank the Exclusive Banking Partner of the World Export Development Forum 2016

DFCC Bank tied up with the Export Development Board (EDB) as the Exclusive Banking Partner for the World Export Development Forum (WEDF) which was held in Colombo on the 12th and 13th of October.

WEDF is an unique global conference and Business-to-Business (B2B) matchmaking platform dedicated to supporting trade-led development.

This forum brought together over 600 business leaders, policy-makers, heads of trade, investment support institutions and international trade development officials to address international competitiveness for developing countries.

It took place at the BMICH and was held under the theme: Connect, Compete and Change.

Customer Capital

October 2016

DFCC Bank celebrates Customer Service Week

DFCC Bank held its inaugural Customer Service Week celebration in October 2016. The Bank utilised this opportunity to further foster its core value of always being customer-centric across the Bank.

The theme of the event was Service Champions, as DFCC realises that delivering cutting-edge services is only possible with a team of dedicated professionals working together as one.

DFCC has always, over the decades, built strong relationships with its ever-growing customer base and remains wholly committed to providing them with innovative and responsible financial solutions to drive sustainable growth.

The celebrations ended with a customer service forum featuring guest speeches from Mrs. Sandra de Soysa, the Group Chief Customer Service Officer of Dialog Axiata and Mr. Manesh Fernando, the General Manager of Hilton Colombo: two chief specialists in the field of customer service.

Business Partner Capital

September 2016

DFCC Bank PLC the Official Banking Partner for the Shape South Asia 2016 Global Initiative

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DFCC Bank was proud to be the Official Banking Partner for Shape South Asia 2016.

Under the theme of Shaping Identities, the event was hosted by the Global Shapers Colombo Hub who will utilise Colombo and Sri Lanka as a backdrop to explore the role that successful millennials would play in shaping their communities to drive positive changes.

The Global Shapers Community is a worldwide network of hubs developed and led by promising young leaders and entrepreneurs. Participants from across South Asia attended the landmark event.

These efforts are directly reflected in DFCC’s mission to drive self-reliance and sustainability in small, medium and large-scale businesses by offering access to finance and value added services. DFCC aspires to reach to youth in society by presenting to them a wide portfolio of products and services, to include its latest offering: Vardhana Virtual Wallet.

Customer Capital

July 2016

Vardhana Xtreme Saver

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With the objective of providing people from all walks of life, with an effective savings solution that is flexible and offers long-term financial security, DFCC launched the Vardhana Xtreme Saver account recently. The account offers attractive interest rates between 6% - 9% which varies based on the monthly account balances. This enables individuals, corporates and institutions to earn higher interest rates.

The Vardhana Xtreme Saver account can be opened with a minimum deposit of Rs. 5,000 and interest is calculated daily and credited monthly. Customers can enjoy a higher return even with a minimum balance of Rs 1000 and enjoy unlimited withdrawals free of charge from over 3,500 DFCC Bank or LankaPay ATM’s across the country. Moreover, customers can get concessionary interest rates on advances of up to 90% on their savings.

Customer Capital

July 2016

New Premier Centre in Negombo

DFCC recently expanded its premier centre network to Negombo. Situated at 454, Main Street, Negombo, this service centre will offer premier customers banking services in the comfort of a modern environment. The services include individually tailored banking solutions, 24/7 exclusive access to Prabhu / Premier Call Centre, e-banking facilities, wealth management services and safety locker facilities amongst many others.

Employee Capital

July 2016

Outbound Training by DFCC REDS

An outbound training was organised by DFCC REDS on 25th and 26th of June at Leading Edge/ Hustlers Paintball recreation facility in Hanwella. A group of 28 newly recruited ETs and ARMs participated in this training, which included fun activities such as rock crossing/ hiking, paintball shooting, raft building, raft launching on the Kelani River and many other activities. These were specially put together to help amplify trust, teamwork, goal motivation and build leadership skills of the participants. The outing also provided an ideal opportunity for the new recruits to interact with their colleagues and build friendships.

Employee Capital

July 2016

The People Practice Workshop

A long term assignment conducted by ‘Great Place to Work’, is underway at DFCC Bank. It is based on the Bank’s current culture and introducing new people practices to support the Bank's core value system. Phase two of the project commenced last week, with the first People Practice Workshop conducted for an inter-departmental group of senior staff and HR process owners. The objective of the session was to educate both management and HR about the new people practices that would need to be inculcated into DFCC’s culture. The program content was developed after a series of focus group discussions between the ‘Great Place to Work’ consultants and sample groups of staff members from diverse cadres of the Bank. Going forward, a series of workshops will be carried out across the Bank in order to create a uniform, vibrant and productive work culture.

Employee Capital

July 2016

An Iftar Ceremony in Qatar by DFCC Bank

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DFCC Bank recently organised an Iftar Ceremony in Qatar, with the aim of promoting LMT amongst the migrant workers. The event which was organised for the first time by a Sri Lankan Bank was well received. Cash prices were awarded to the winners (residing in Sri Lanka) of the draw which was held during the event. The awards were given to the winners recently at the DFCC Head Office, by the CEO and DCEO of DFCC Bank.

Business Partner Capital

July 2016

DFCC Bank, Exclusive Banking Partner for the World Export Development Forum 2016

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DFCC bank joined hands with the Sri Lanka Export Development Board (EDB) to become the exclusive partner of the World Export Development Forum (WEDF).

The forum plays a vital role in the flourishing of businesses with regards to value chains, sustainable trade and international levels of competitiveness.

The flagship event of the International Trade Centre, co-hosted by the EDB, will focus on how Sri Lankan SMEs and corporates can better navigate an evolving global trade landscape.

The global forum ‘Connect, Compete and Change’ will take place at the BMICH, featuring an array of speakers from the public and private sectors. It will include workshops, industry-specific presentations, a round-table discussion, a gala night and a supplementary exhibition.

For over 60 years, DFCC bank has been at the forefront of contributing to economic development in Sri Lanka. The bank is proud to connect with EDB as the exclusive banking partner of this prestigious event, in line with efforts to drive economic growth in Sri Lanka.

Customer Capital

July 2016

Vardhana Salary Booster for Professionals

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DFCC Bank launched ‘Vardhana Salary Booster,’ especially designed for professionals. Accordingly, salaried individuals who meet the minimum criteria, have access to a host of exclusive benefits and privileges. These include, overdraft facilities upto 90% of two months’ salary, concessionary interest rates for ‘Vardhana Nenasa’ education loans and ‘Vardhana Sandella’ housing loans and special benefits when opening a ‘Vardhana Junior’ savings accounts. In addition to a free debit card, access is given to the ‘Vardhana Virtual Wallet’ and e-banking facilities. The credit card joining fees are waived off as well.

Financial Capital

June 2016

DFCC Bank Joins CSE to Open Trading for the month of June

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DFCC Bank organised the Market Opening Ceremony on 1st of June at the Colombo Stock Exchange (CSE) to mark the first day of trading for the month.

Whilst being proud of all they have delivered to the shareholders for over 60 years, DFCC Bank has further strengthened and continued to grow, raising the bar in service delivery and rapidly expanding its digital reach and footprint across the country. The Bank remains committed to maximising shareholder value in a sustainable manner by providing innovative financial solutions, drawing on the synergies of its other businesses within the group.

The Bank has offered value through its shares and thereby played an important role in sparking interest in the market, especially among retail investors around the country. The Bank’s shares have since developed into an attractive stock for investors and continue to attract interest both locally and internationally.

This form of Market Opening Ceremonies are conducted by the CSE to serve as a platform to generate exposure for listed companies as they celebrate important milestones in the capital market.

Business Partner Capital

June 2016

DFCC Hosts Cocktails for Sri Lanka Shippers’ Council

DFCC Bank hosted cocktails for members of the Sri Lanka Shippers’ Council at the DFCC Auditorium. The event was held in honour of the Council’s Diamond Jubilee which was celebrated in March this year.

A special plaque was presented to the Chairman of the Sri Lanka Shippers’ Council, Mr. Sean Van Dort at the event by Mr. Arjun Fernando.

Having played a pivotal role in economic development over the past 60 years, DFCC Bank has close associations with the Shipping and Export Industries. An event of this nature helps to build stronger business relationships.

Customer Capital

June 2016

DFCC Bank Spreads its Wings to Bandaragama

DFCC Bank’s latest fully-fledged branch was opened at No. 63/1, Kalutara Road, Bandaragama on 2nd June.

The branch offers end-to-end financial solutions for all business and retail customers. This includes project financing, SME financing and retail banking services such as current and savings accounts, fixed deposits, loans, pawning services, leasing facilities, NRFC/RFC accounts, credit cards and money transfer options via Western Union. In addition, DFCC’s Lanka Money Transfer service is made available to the customers.

With its expertise in SME financing, the Bank expects to play a key role uplifting the business sector in Bandaragama. These services are complemented by the online banking facility, a 24/7 call centre and access to over 3,500 ATMs through DFCC’s own and partner ATM networks facilitating unlimited withdrawals at zero cost.

Social & Environmental Capital

June 2016

DFCC Launches Tree Planting Campaign on World Environment Day

Continuing its commitment towards the environment and society, DFCC Bank launched a tree planting campaign to commemorate World Environment Day.

The Sustainability Unit of the Bank along with the staff members who volunteered their time planted thirty ‘Na’ trees at the Keththarama Temple premises on World Environment Day. This was conducted in collaboration with ‘Reforest Lanka,’ a non-profit organisation committed to protecting and extending the forest cover in Sri Lanka. Present on the occasion were the religious leaders from the Keththarama Temple and members from the ‘Reforest Lanka’ team.

In addition, a tree planting ceremony was also held at the DFCC Bank Head Office, where five ‘Karanda’ trees were planted in its front lawn. These were planted by the Bank’s senior management including CEO Mr. Arjun Fernando, Deputy CEO Mr .Lakshman Silva and Executive Vice Presidents Ms .Anomie Withana, Mr. Palitha Gamage and Mr. Tyrone de Silva.

DFCC Bank takes pride in being a socially responsible Bank with a vision to developing a caring culture towards the environment, which is one of its core values. The Bank has been involved in many tree planting initiatives over the years. Going forward, more tree planting projects will be launched by the Bank across the island with the support of its branch network. In addition to creating a healthy environment, the Bank strives to inspire its staff members and the general public to plant, nurture and appreciate trees.

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Customer Capital

April 2016

The Vardhana Wallet Merchants Evening

The first Vardhana Wallet Merchants Evening was held at the DFCC Bank Executive Lounge on the 11th of April 2016. The aim was to formally welcome the Merchants on board as DFCC’s strategic partners and further strengthen connections through fellowship.

Vardhana Virtual Wallet, which is a virtual replacement of a physical wallet, enables DFCC to be at the forefront in paving the way for a cashless society. This also affirms DFCC’s potential for stronger growth through innovation and driving financial inclusion in Sri Lanka.

Customer Capital

April 2016

DFCC Joins The LankaPay Common ATM Switch

In keeping with its commitment to deliver a superior customer service experience, DFCC Bank recently joined the LankaPay Common ATM switch (CAS) operated by Lanka Clear Ltd., which is Sri Lanka’s largest ATM network.

This alliance provides the Bank’s Debit, ATM and KDU Vcash cardholders the convenience of withdrawing cash and carrying out balance inquiries through LankaPay member banks, free of charge from over 3,000 ATMs island-wide. In addition, there is no restriction on the number of withdrawals and balance inquiries that cardholders can perform through CAS connected ATMs. However, the daily ATM and POS limits applicable to the cards would apply.

Mr. Arjun Fernando – CEO, DFCC Bank exchanges the agreement with Channa de Silva – CEO/ General Manager, Lanka Clear. Also present (L-R): Gemunu Gunasumana – AVP Card Operations, DFCC Bank, Denver Lewis –VP Services, DFCC Bank, Achintha Hewanayake - Chief Technology & Services Officer, DFCC Bank, Lakshman Silva – DCEO, DFCC Bank, Harsha Wanigatunga - DGM IT & Operations, Lanka Clear and Isuru Jayaweera – Senior Manager, Lanka Clear

Customer Capital

April 2016

DFCC’s Website Re-Launched

The DFCC Bank website was re-designed and re-launched with the objective of enhancing the navigation experience and creating a more cohesive experience across digital channels.

From the layout pattern to the dynamic content loading and seamless context transitions, the website embraces today’s multi-device media consumption. It also adapts to the size of the window – be it mobile, tablet, laptop or desktop PC.

The new investor relations section also includes a ‘Perennial Compendium’ featuring the Bank’s latest news, enabling stakeholders to stay up-to-date with the new developments. This website highlights the forward thinking brand personality of the Bank. Further value additions are set to follow including mirroring the site in Sinhala and Tamil, processing applications online and a 24/7 chat support.

Customer Capital

April 2016

DFCC Launches ‘Thaagi Kadai – Wadi Poliyai’ Avurudu Promotion

A special Avurudu promotion themed ‘Thaagi Kadai - Wadi Poliyai’ was launched to drive CASA during the festive season upto the 4th of May. Both new and existing customers are offered attractive gifts and special benefits on their deposits to the Savings or Fixed Deposit accounts. It also carries a 10.5% rate of interest on an one-year Fixed Deposit. In addition, new Savings Deposits over Rs.10,000 are entitled to a range of gifts including gift vouchers and DFCC branded household items from Singer Sri Lanka.

Customer Capital

March 2016

“DFCC’s SME thrust stronger than ever” Says Arjun Fernando, CEO, DFCC Bank

DFCC Bank PLC, Sri Lanka’s pioneering development bank, is renowned for being a national icon that has played a pivotal role in the development of Small and Medium Enterprises (SMEs) in the country.

The bank has a track record of having sustained these businesses in their operations in becoming some of the largest and most successful corporations of today, and its contribution has always been holistic, extending well beyond the mere financing of activities.

After 60 years of development and growth, DFCC recently amalgamated with its commercial banking subsidiary, DFCC Vardhana Bank, transforming itself to raise the bar of service delivery, to further enhance the bank’s value proposition to this sector.

The Government of Sri Lanka has identified the Small and Medium Enterprise sector in its policies as being an important strategic highlight. The Chief Executive Officer of DFCC Bank PLC, Mr. Arjun Fernando, has clearly detailed how the bank has supported such enterprises in the past and how it is further positioned to support such initiatives in 2016 and beyond.

Social & Environmental Capital

March 2016

DFCC Bank Continues to Reaffirm its Support towards the Renewable Energy Sector

DFCC Bank, in its continued efforts to support the harnessing of renewable energy resources of Sri Lanka, has provided financial support to the Laugfs Group in establishing one of its two maiden Solar Power Projects at Hambantota. This is the second such solar power project financed by DFCC at the proposed 100MW “Solar Park” at Hambantota.

DFCC Bank has been a steady partner of the non-conventional renewable energy (NCRE) industry of Sri Lanka since its humble beginnings in 1996. The NCRE industry contributes to approximately 10% of the country’s electricity generation today, and the government envisages the NCRE industry to play an even greater role in the years to come.

DFCC Bank has the enviable position of having financed Sri Lanka’s first grid connected mini-hydro project in 1996, first private sector wind power project in 2010 and the first grid-scale solar power project in 2015. As of date, the Bank has financed 70 mini hydro projects, 3 wind power projects, 2 solar power projects and a biomass project with a cumulative capacity of more than 150MW feeding the national grid.

With the gradual exhaustion of locations suitable for hydropower development (both large and non-conventional), Sri Lanka is now looking forward to harnessing other forms of renewable energy such as Solar, Wind and Biomass. DFCC Bank, with its 20 years of expertise in renewable energy financing together with in-house technical expertise and multilateral agency relationships, is well poised and committed to support the development of such modern renewable energy technologies for Sri Lanka to reduce its dependency on fossil fuels and to control emissions related to electricity generation.

Financial Capital

February 2016

Demand For DFCC Debenture Issue Tops Rs.5b Mark

DFCC’s Rs. 7 billion debenture issue surpassed the Rs. 5 billion mark on the opening day itself.

The Issue was 50 million rated, senior, unsecured, redeemable debentures of Rs. 100 each, with an option to offer a further 20 million debentures in the event of an oversubscription of the original amount.

The Bank received applications for over 50 million debentures and the Issue was oversubscribed by the end of the opening day. Applications were received till 4.30 p.m. on the 11th as per the prospectus.

Financial Capital

February 2016

DFCC Bank Posts Healthy Balance Sheet Growth

2015 was a year o f transformation for DFCC following the amalgamation with DFCC Vardhana Bank and the change in the financial yearend to December 31 from March 31. The performance reported is for nine months from April 2015 to December 2015 as against that of the previous full year. Net profit after tax as at December 31, 2015 was Rs.1,642 million (group) and Rs.1,068 million (bank) while that for FYE March 2015 was Rs.4,439 million and Rs.3,240 million, respectively. However, there were several exceptional items in both periods which distort the comparison.

FYE 31 March 2015 included substantial one-off capital gains and impairment reversals, while the period ended December 31, 2015 entailed significant nonrecurrent expenses incurred during the amalgamation for items such as systems integration and data migration. The change of the financial year meant that the bank incurred an additional taxation charge based on the full year, even though results were for nine months.

Also, substantial dividend income, which accrues in the first quarter of the calendar year, could not be included. Meanwhile, total assets grew by 17 percent to Rs.247,109 million as at December 31, 2015 from Rs.210,610 million as at March 31, 2015. This included a robust credit portfolio growth of 18 percent to Rs.171,111 mi l l ion from Rs .144,896 million. At the same time credit quality was not compromised.

The ratio of impaired loans to total loans for December 31, 2015 was 5.1 percent compared to 6.1 percent for March 31, 2015, indicating a credit quality improvement. Close monitoring drove down the bank’s ratio of impaired loans to total loans as well as its regulatory non-performing loan ratio, with the latter improving to 3.7 percent as at December 31, 2015 from 4.3 percent as at March 31, 2015. Its balance sheet strength is demonstrated by a group Tier 1 capital adequacy ratio of 15.4 percent and a total capital adequacy ratio of 15.3 percent making DFCC Bank one of the highest capitalised banks in the industry. CEO Arjun F e r n a n d o commented, “While 2015 was a transformative year for DFCC, the amalgamation with Vardhana has laid the foundation for the bank to take on the competition. We are therefore confident of resuming our normal growth trajectory in 2016 and beyond.”

Financial Capital

February 2016

DFCC Bank Selected as PFI for ADB’s SME Credit Line

The Government of Sri Lanka signed an agreement with the Asian Development Bank for a Credit Line of USD 100 million on the 23rd of February. DFCC Bank was also selected as one of the Participating Financial Institutions (PFI) for the Credit Line.

The funds will come in to the country within a period of four years and is to be on-lent to the SME sector. The interest rate at which this could be on-lent to the final beneficiary is yet to be decided, as it will depend on the rate at which each PFI would receive the funds, which would come through an auction mechanism every six months.

The criteria for eligibility of an SME is; an annual turnover of < 750 million or <300 employees if it is a manufacturing business, or <200 employees if it is a business in service. Criteria for on-lending includes; lending to enterprises that have not previously borrowed from a Licensed Commercial or Specialised Bank, to women-led enterprises and targeted SMEs.

Financial Capital

February 2016

DFCC Bank’s Rs 5 Bn Debenture Issue Opens Today

DFCC Bank recently announced its Debenture Issue to raise Rs 5 Bn with an option to issue up to Rs 7 Bn, carrying a tenor of 3 years. The Colombo Stock Exchange has approved the listing of these debt securities on the main board and the Issue opens to the public today.

Rated AA- by Fitch Ratings (Lanka) Limited, this public Issue is attractively structured giving investors the opportunity to receive an annual rate of return of 10.625%.

Speaking on the Debenture Issue, Kapila Nanayakkara, Senior Vice President Treasury and Resource Mobilisation of DFCC Bank said, ‘The funds raised from this Issue will supplement the ongoing deposit mobilisation drive of the Bank to support the lending and investment activities of DFCC during the normal course of business in 2016, whilst mitigating DFCC’s interest rate risk by reducing maturity mismatches. More specifically the Bank will use the mobilised funds to support lending in the SME sector, Personal Financial Services and Project Financing. In addition, it will supplement the diversification of the borrowing base of the bank. Retail and institutional investors will also benefit from having an alternative investment opportunity and the ability to earn a fixed rate of interest.’

A total of 50,000,000 Senior, unsecured, rated, redeemable debentures with a face value of Rs 100 will be on offer with an option to issue a further 20,000,000 if the Issue is over-subscribed. The minimum subscription will be Rs 10,000.

The Issue is structured by the Treasury and Resource Mobilisation Unit of DFCC Bank and jointly managed by Acuity Partners (Pvt) Ltd and the People’s Bank Investment Banking Unit, while the placement agent is First Capital Limited. The Registrar to the Issue is SSP Corporate Services (Pvt) Ltd.

Financial Capital

February 2016

DFCC Changes Financial Year

DFCC Bank (DFCC) has announced that the financial year of DFCC has been changed from March to December commencing 2015.

This is in terms of the Articles of Association adopted upon the amalgamation of DFCC Bank and DFCC Vardhana Bank on 1 October 2015.

Customer Capital

January 2016

DFCC Bank Expands Operations to Kaduwela and Hingurakgoda

DFCC Bank recently opened two new branches in Kaduwela and Hingurakgoda, further strengthening and adding value to its branch network. The branches were ceremonially declared open by CEO, Mr. Arjun Fernando and Deputy CEO, Mr. Lakshman Silva at the events held at the respective branches.

The new branches offer end-to-end financial solutions for individuals and businesses including; project financing, SME financing, consumer banking, foreign currency products and money transfer options via Western Union. The Lanka Money Transfer service, which was launched by DFCC to provide Sri Lankan migrant workers and their families a safe and reliable remittance option, is also available. These services are complemented by the online banking facility, a 24/7 call centre and access to over 800 ATMs through DFCC’s own and partner ATM networks which facilitates unlimited withdrawals at zero cost.

Branch contact details are as follows:

Kaduwela:

No 506 G, Colombo Road, Kaduwela
Tel: 011-2548170 / 011-2538025
Fax: on 0112538026.

Hingurakgoda Branch:

No 88, D S Senanayake Street, Hingurakgoda.
Tel: 027-2245399 / 027-2245073
Fax: 027-2245074

In a landmark development in Sri Lanka’s banking and financial sector, DFCC Bank and DFCC Vardhana Bank recently amalgamated to form DFCC Bank PLC, a fully-fledged commercial bank overlooked by the Central Bank of Sri Lanka. The joint synergies of the two leading banking partners strengthen and position DFCC Bank PLC as a force to be reckoned with in the financial services industry, and the Bank remains committed to driving financial inclusion in the country.

Customer Capital

January 2016

DFCC Bank 1 Jan. Children’s Savings Drive a Runaway Success

DFCC Bank conducted a successful New Year children’s savings drive. The bank invited parents to open savings accounts for their children on New Year’s Day 2016 and promised in return an additional Rs. 1,000 to the account. The promotion was aimed at encouraging parents to consciously save for the future of their children. The day saw double the expected number of children’s account opened across 137 branches and DFCC Bank honoured their pledge of an additional Rs. 1,000 into all such accounts.

Commenting on the special savings drive, DFCC Bank CEO Arjun Fernando stated, “We are indeed very pleased with the response received from parents and guardians of children below 18 years. We witnessed a level of activity in our branches never seen before on New Year’s Day. Our objective was to use the occasion to send out this important message on the value of saving for one’s future. As a responsible bank keen on developing individuals as well as business institutions and contribute to the country’s overall progress we are very pleased at how successfully we were able to pass this message out to the public.”

DFCC Bank PLC stands apart from the rest of the banking industry by offering a diverse range of services in the areas of project financing corporate, business and retail banking, supported by innovative banking technology, all offered under one roof. With decades of experience in all these areas, DFCC Bank PLC is strengthened further by a professional and experienced team of employees.

With high interest rates and a range of other benefits such as gifts and education support DFCC Bank’s Vardhana Junior and Vardhana Junior Plus savings accounts are committed to ensuring the future leaders of the country step into their adult lives with a sound financial backing.

Customer Capital

January 2016

DFCC Rewards Children’s’ Savings Account Holders on New Year’s Day

For the first time in Sri Lanka, DFCC Bank conducted a children’s savings promotion for the New Year. This was to motivate parents to open savings accounts for their children on this special day.

The Bank pledged to pay an additional Rs. 1,000/= for every children’s saving account opened for children below 18 years on this day. The aim of the campaign was to encourage parents to consciously save for their children.

As a responsible commercial bank in the country, DFCC felt this was a timely requirement to educate parents on the value of saving for their children. In addition, DFCC is also committed to educating children on the value of saving in line with the government’s vision. Offering high interest rates and a range of other benefits including gifts and educational support, DFCC Bank’s Vardhana Junior and Vardhana Junior Plus savings accounts, ensures that the future leaders of the country step into their adulthood with a sound financial backing.

Customer Capital

December 2015

DFCC Bank Offers Cash Rewards For Children’s Savings This New Year

For the first time in Sri Lanka, DFCC Bank will run a New Year children’s savings promotion to motivate parents to open savings accounts for their children on New Year’s Day.

DFCC Bank has pledged to pay an additional Rs.1000 into the child’s account for all children’s accounts opened for children below 18 years on that day. The promotion aims at encouraging the parents to consciously make it a habit to save up for their children.

Commenting on the January 1st children’s savings campaign, DFCC Bank CEO Arjun Fernando said: “As a responsible commercial bank in the country, DFCC felt it is a timely requirement to educate the parents on the value of saving for their children. The bank’s purpose behind this campaign is to get parents and children off to a positive start in 2016.

Also DFCC is committed to educating the children in line with the government’s vision towards securing the countries future, on the values of savings.”

DFCC Bank PLC stands apart from the rest of the banking industry by offering a diverse range of services in the areas of, project financing corporate, business and retail banking, supported by innovative banking technology, all offered under one roof. With decades of experience in all these areas, DFCC Bank PLC is strengthened further by a professional and experienced team of employees, who are driven by a deep sense of commitment to achieve the bank’s new vision. With high interest rates and a range of other benefits such as gifts and education support DFCC Bank’s Vardhana Junior and Vardhana Junior Plus savings accounts, are committed to ensuring the future leaders of the country step into their adult lives with a sound financial backing.

With a legacy that extends over 60 years, DFCC Bank PLC has 137 branches and extension offices; which includes 58 units across the Sri Lanka Post network.

Social & Environmental Capital

December 2015

DFCC Bank Lends a Hand to Healthcare Institutions in the North

Coinciding with the 60th Anniversary Celebrations of the Bank in the North, DFCC Bank provided assistance to two healthcare institutions in Jaffna and Vavuniya. The Bank provided essential equipments to cater to the needs of patients.

Accordingly, 30 wheelchairs were donated to the Jaffna Teaching Hospital and 200 seats for the OPD Unit in the Vavuniya General Hospital. These initiatives have enhanced the quality of service extended to the needy patients. The equipment was handed over to Dr.Sathiamoorthy, Director of the Jaffna Teaching Hospital and Dr .K. Akilendiran, Director General of the Vavuniya General Hospital.

The project was spearheaded by the Regional Manager and the Branch Managers of the Jaffna and Vavuniya branches.

Although Bank’s CSR is mainly focused on Education, Entrepreneurship, Environment and Emergency Relief, enabling growth and development in every area is also of utmost importance to DFCC. Therefore, community development is an integral part of the Bank’s core value system and it aims to be a model corporate citizen creating long term social value for the communities in which it operates.





Customer Capital

November 2015

DFCC Sets its Footprint in Weligama

DFCC PLC expanded its operations in Weligama, with the opening of a new branch. Weligama town has developed into a thriving centre for trade and business in the south of Sri Lanka. The new branch located at No. 354/45, Samaraweera Place was ceremonially opened by Arjun Fernando, CEO of DFCC Bank, Lakshman Silva, DCEO of DFCC Bank as well as several senior banking officials, staff members and members of the local community.

The branch will offer tremendous convenience and a comprehensive service to all business and retail customers in the area. It operates as a fully-fledged branch offering all types of banking transaction including foreign currency products. The new branch is equipped with an ATM and is linked to all other DFCC Bank branches.

Social & Environmental Capital

November 2015

DFCC Brings Relief to Flood Victims in the Northern Region

Mr. Saravanapavan Raveendra and his team in the Northern region provided assistance to families affected by floods in the Vatharavarai Village. The village was severely affected and many people were displaced due to the flash floods caused by heavy rains.

Acting on the request of the Divisional Secretariat, the team distributed packets of biscuits and mosquito coils for about 100 affected families. This was a great comfort to the families as most were without food, especially the children.

The relief team extends their appreciation to the Marketing team for the support given. These initiatives make a difference to the communities whilst portraying the Bank as one that truly cares for the community!





Financial Capital

November 2015

DFCC Bank Ranked 17th in Business Today’s Top 25

DFCC Bank was ranked 17th in the ‘Top 25’ list of Business Today for the financial year 2014/15, based on the financial performance. This is the 6th consecutive year that DFCC has made the list.

Based on the published information of companies listed in the Colombo Stock Exchange, the companies are ranked based on financial criteria. These include, Share Turnover, Revenue, Profit after Tax, Return on Equity, Earnings per Share, Market Capitalization and Value Addition.

DFCC’s financial indicators recorded an increase, year on year in the year reviewed for the latest ranking. Group profit after tax soared 38% to LKR 4.4 billion and operating income before VAT and NBT swelled by 33% to LKR 6.1 billion. Accordingly, Earnings per Share grew by 38% to LKR 16.46 whilst, Group assets surpassed the LKR 200 billion mark recording LKR 211 billion from LKR 175 billion the previous comparable year.

Social & Environmental Capital

November 2015

Solar Energy Financing - Another First for DFCC Bank

DFCC Bank PLC made another remarkable move through its approval of a project loan to Saga Solar (Pvt) Ltd. The bank is renowned as a pioneer in financing renewable energy. Yet, this is the first time the bank financed a project of this kind.

The project initiated by Saga Solar (Pvt) Ltd is a revolutionary initiative undertaken by a team of experts in the solar energy sector. The team includes a group of brilliant investors and professionals. DFCC will also be completely committed towards the project. The Bank will oversee the project from start to finish.

In the green energy category, solar energy has great potential. However this project will be the first large commercial solar project with grid connectivity.

The Bank financed similar projects such as Sri Lanka’s first ever privately-owned grid-connected mini-hydro power plant in 1994. DFCC also became the pioneer financier for the private sector wind power projects in the country when it partly financed the first wind power project in 2010.

The Bank which celebrated its Diamond Jubilee very recently aspires to be a part of projects of this kind in the future.

Financial Capital

DVB’s Debenture Oversubscribed with Hours

The second listed debenture issue of DVB, which concluded on 29 May 2015 was a resounding success. Following on the success of its first debenture issue in 2011, both senior and subordinated debt categories were oversubscribed within hours of opening to the public.

The issue was an industry milestone, being the first listed issue with two types of debt rankings. Both senior and subordinated debt categories had a tenor of 5 years with a bullet capital repayment. With an AA- Fitch Rating, the senior debt carried an annual interest coupon of 9.10% whilst the subordinated debt was rated A+ with an annual interest coupon of 9.40%.

This debenture issue supported the growth process of DVB whilst the subordinated debt component boosted the Tier II capital ratio of the Bank in accordance with Basel ll guidelines.

The Issue was managed by Capital Alliance Partners Limited and Acuity Partners (Pvt) Limited, and structured by DFCC Bank’s Funding and Capital Markets Division.

Capital Formation

Value creation is a two-way process, as the ability of an organisation to create sustainable value for itself is also related to the value it creates for its stakeholders. It leads to capital formation. As a store of value, capital takes on a broader meaning in integrated reporting, and constitutes the resources and relationships used and affected by an organisation.

We classify capital that is owned by the organisation as being 'internal' capital, while capital that is not owned as 'external' capital. Ownership is irrelevant here, as the organisation has access to and uses all forms of its capital to create sustainable value for itself and its stakeholders.

Stakeholders

Our stakeholders are individuals or organisations that interact with us and are impacted by our business activities, or whose actions can affect our business. Our primary stakeholders are investors, customers, employees, business partners, regulators and the society and physical environment in which we operate.

As a responsible banking business we communicate with our stakeholders throughout the year, and engagement is integrated into our business decision making processes as the relationship we foster with them has a direct impact on the Bank’s success. The mode and frequency of engagement vary depending on the stakeholder group and nature of a specific aspect to be addressed.

Value Creation and Internal Capital Formation

The value created by DFCC Bank, the DFCC Banking Business (DBB) and the Group for themselves through activities, relationships and linkages lead to the formation of capital that is internal to and 'owned' by these entities. While what is most visible and quantifiable is financial performance that leads to financial capital formation, internal capital also includes several intangibles that constitute institutional capital.

Financial Capital

We exist to create value, for ourselves and for our stakeholders. The value we create for ourselves is best seen in the profits we make and by our standing in the market. Profits are important to reinvest and grow our business and thereby reward our investors. Profits are also important as they indicate how efficient and effective we are in formulating and executing our business strategies and managing scarce resources.

Institutional Capital

Institutional capital is the non-financial component of DBB's internal capital. It encompasses aspects such as organisational knowledge, systems, processes, intellectual property, corporate values, business ethics, brand equity, goodwill, recognition and so on.

Value Creation and External Capital Formation

The value created by the DFCC Banking Business for stakeholders through activities, relationships and linkages lead to the formation of capital external to these entities. They reside within our stakeholders and hence not 'owned' by us. But we have access to and make use of these and our 'own' internal capital in driving business. The discussion that follows focuses on our external capital formation, the material ones being investor capital, customer capital, business partner capital, employee capital and social & environmental capital.

Investor Capital

Our investors provide us with equity and debt capital needed for expansion and growth. In turn, we strive to offer optimal returns on their investments through sustained profitable growth.

Customer Capital

Customers are the source of our earnings, and hence, our existence. We serve them through the provision of financial products and services to meet their diverse needs.

Employee Capital

Employees form the backbone of our organisation and are the very essence of our competitive advantage. They are nurtured and developed, and rewarded for their performance.

Business Partner Capital

Our key business partners are those who provide lines of credit (either to manage or to on-lend) as well as the regular suppliers of goods and services needed for business operations. These stakeholders are an important part of our value chain and share complementary business goals.

Social and Environmental Capital

The local communities in which we operate are a source of customers and employees, while they also effectively 'hold' our licence to operate. We endeavour to understand their perceptions and expectations and tailor our business operations and CSR activities accordingly to create win-win solutions.