LB Finance wins award | Sunday Observer

LB Finance wins award

9 January, 2022

LB Finance PLC made history by winning seven awards at the recently concluded 56th Annual Report Awards, organized by the Chartered Accountants of Sri Lanka (CA Sri Lanka), and becoming the first-ever company to win the Gold Award for “Special Recognition in Most Transformative and Digitalized Annual Report”.The award was inauguratedat this year’s competition, which was held on December 9.

LB Finance bagged the Bronze Award for “Overall Excellence in Annual Financial Reporting 2021’, representing the top-3 corporate bodies for financial reporting in this year.

The company took home five (5) more awards, including Gold Awards in the “Finance Companies and Leasing Companies sector (Total Assets above LKR 20Bn)” and “Corporate Social Responsibility Reporting Award” categories; Silver Awards for the “Integrated Reporting: Best Disclosure on Capital Management” and “Corporate Governance Disclosure Award” categories and the Bronze Award in the “Management Commentary Award” category.

The CA Sri Lanka Annual Report Awardsrecognizes excellence in the companies that make their financial disclosures to improve and strengthen the quality of financial reports every year. Once again, LB Finance cemented its reputation as one of Sri Lanka’s leading prestigious financial institutions by standing tall over 70 contestants that included renowned conglomerates, multinationals, small-to-medium enterprises and non-profit organizations.

Through this competition, CA Sri Lanka aims to set the benchmark in promoting transparency, accountability and good governance within the competing companies and in the industries while recognizing effective communication of information to stakeholders. The standards required to win these awards have remained consistently stringent, ensuring that companies comply with the recognized legislation and accounting practices while maintaining consistency in their financial disclosures.

Managing Director LB Finance PLC, Sumith Adhihetty said, “As the competition upholds strict criteria, these awards show that LB Finance prizes its customers and that we deliver the best to our customers and stakeholders. At LB, we believe that the best way we can serve those who trust us is through responsible business practices, good governance, transparency and sustainable growth.”