Wednesday, 30 December 2020 00:01 -
Overall Winner (Gold Award) – Diesel & Motor Engineering DIMO Group CEO Gahanath Pandithage receiving the award from SEC Chairman President’s Counsel Viraj Dayaratne joined by CSE DG Rajeeva Bandaranaike and CMA President Prof. Lakshman R. Watawala
Hybrid event conducted virtually and awards presented personally
The ‘CMA Excellence in Integrated Reporting Awards 2020’ was held for the sixth consecutive year to recognise and honour Sri Lankan companies preparing high quality integrated reports. With the challenges faced by the COVID-19 pandemic, this time the awards ceremony was held as a hybrid event combining both virtual and awards presented personally on 21 December.
DFCC Bank Rated AA- with Stable Outlook by ICRA Lanka Limited
December, 17, 2020
DFCC Bank, Sri Lanka’s premier commercial bank, was recently assigned an issuer rating of “[SL] AA- with Stable outlook” by ICRA Lanka Limited. ICRA Lanka Limited (ICRA Lanka) is a Credit Rating Agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC), and is a fully owned subsidiary of ICRA Limited, India. The ultimate parent company of the international credit rating agency, Moody s Investors Service, is the indirect majority shareholder of ICRA.
ICRA Lanka’s rating factors in DFCC Bank’s established track record as the pioneer development bank in Sri Lanka (the Bank consequently became a fully-fledged commercial bank in 2015), healthy asset quality indicators, and the adequate capitalization profile. The Bank has a strong corporate banking focus, with about 44% of the total portfolio comprising corporate lending as at June 2020. The rating also takes cognizance of the
DFCC Bank was recently assigned an issuer rating of “[SL] AA- with Stable Outlook” by ICRA Lanka Limited. ICRA Lanka Limited (ICRA Lanka) is a Credit Rating Agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC), and is a fully owned subsidiary of ICRA Limited, India. The ultimate parent company of the international credit rating agency, Moody’s Investors Service, is the indirect majority shareholder of ICRA.
ICRA Lanka’s rating factors in DFCC Bank’s established track record as the pioneer development bank in Sri Lanka (the bank consequently became a fully-fledged commercial bank in 2015), healthy asset quality indicators, and the adequate capitalization profile. The bank has a strong corporate banking focus, with about 44% of the total portfolio comprising corporate lending as at June 2020. The rating also takes cognizance of the healthy asset quality indicators of the bank, with gross NPA (GNPA) of 4.8% as at June 2020, which was lower than the sys
Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Past President Arjuna Herath earned high praise recently from International Federation of Accountants (IFAC) outgoing President Dr. In-Ki Joo for his exceptional leadership in steering the global body’s Professional Accountancy Organization Development Committee (PAODC).
During an IFAC Council Meeting attended by delegates of the Professional Accountancy Organizations (PAOs) from across the world, Dr. Joo applauded Herath for his achievements as the Chair of the PAODC of IFAC, the global body of the accountancy profession based in New York, United States.
“Arjuna embodies the volunteer spirit: he serves because he knows that a strong, vibrant accountancy profession will make a major difference in global, regional, and local economies…and therefore, in the public interest. The Advisory Group has evolved significantly since Arjuna joined. Arjuna’s enthusiasm, energy, and commitment have been indispensable