Loading...
0

COMMERCIAL BANK OF CEYLON PLC

ANNUAL REPORT 2024
 

My Report

At the moment, there are no entries available for display

Download as PDF
header_bg header_bg

SUPPLEMENTARY INFORMATION

next arrow

Annex 3: GRI content index

Previous Section

Managing Director/Chief Executive Officer's and Chief Financial Officer's Statement of Responsibility

Next Section

Independent Assurance Report - Internal Control

Statement of use: Commercial Bank of Ceylon PLC has reported in accordance with the GRI Standards for the period January 1, 2024 to December 31, 2024.
GRI 1 used: GRI 1: Foundation 2021

Gri Standard/
Other source		 Disclosure Omission
Report commentary title Requirement(s)
omitted		 Reason Explanation
General disclosures
GRI 2: General Disclosures 2021 2-1 Organisational details Corporate Information
About Commercial Bank of Ceylon PLC
2-2 Entities included in the organisation’s sustainability reporting Introducing our 56th Annual Report – “Defining report boundary”
2-3 Reporting period,
frequency and contact point 		Introducing our 56th Annual Report –
“Our reporting journey”
Introducing our 56th Annual Report – “Your opinion matters”
2-4 Restatements of information Introducing our 56th Annual Report – 'Defining report boundary'
2-5 External assurance Annual Report of the Board of Directors – “Integrated reporting and strategic focus”, “Board’s Responsibility“ , “External Assurances Obtained”
Introducing our 56th Annual Report – “Crafted with clarity”
Annex 6 – Independent Assurance Reports
2-6 Activities, value chain and other business relationships About Commercial Bank of Ceylon PLC
Business Model for Sustainable
Value Creation
Sustainable Supply Chain
2-7 Employees Table 17: Employees by Type and Gender (As at December 31, 2024)
2-8 Workers who are not employees Table 17: Employees by Type and Gender (As at December 31, 2024)
2-9 Governance structure and composition Annual Corporate Governance report
(a) Governance structure
(b) List of Board Committees
(c) Composition of the Board
2-10 Nomination and selection of the highest governance body Appointments and retirements/ resignations of Directors (Principle A.7)
Re-election/election of Directors
(Principles A.8 and A.9.3)
Report of the Board Nominations and Governance Committee
2-11 Chair of the highest
governance body 		Segregation of roles of Chairman and Chief Executive Officer (Principles A.2 and A.3)
2-12 Role of the highest governance body in overseeing the management of impacts Annual Corporate Governance Report
Roles, responsibilities, and powers of the Board (Principles A.1.2 to A.1.7) & Board’s role in risk management (Principle D.2 and D.4)
Segregation of roles of Chairman and Chief Executive Officer (Principles A.2 and A.3)
Shareholder engagement and voting (Principles C.1, C.2, E, and F)
2-13 Delegation of responsibility
for managing impacts 		The Bank’s Organisation Structure
How we govern (Principles D.6 and D.7)
Figure 44 Governance structure
Executive Management Committee and Management Committees
2-14 Role of the highest governance body in
sustainability reporting 		ESG and organisational oversight
Integrating material matters into
strategy and governance
Bank’s Sustainability Framework
Executive Sustainability Committee (ESC)
Roles, responsibilities, and powers
of the Board (Principles A.1.2 to A.1.7)
and Board’s role in risk management
(Principles D.2 and D.4)
2-15 Conflicts of interest Conflicts of interest (Principles A.5.5 and A.10.1)
Report of the Board Related Party
Transactions Review Committee
Directors’ Interest in Contracts
with the Bank
Note 62 – Related party disclosures
2-16 Communication
of critical concerns 		Board process (Principles A.1.3,
A.1.4, A.1.6, A.1.7, A.3.1 and A.6)
Board meetings (Principle A.1.1 and A.10.1)
Whistleblowing (Principle D.6.4)
2-17 Collective knowledge
of the highest governance body 		Diversity and inclusion (Principle A.10.1)
Board of Directors’ industry/
background experience
Induction and training of Directors (Principle A.1.8)
2-18 Evaluation of the performance of the highest governance body Board and Board Committee evaluations (Principle A.9)
2-19 Remuneration policies Directors’ and Executive remuneration (Principles A.10, B.1 and B.3)
Report of the Board Human Resources
and Remuneration Committee
2-20 Process to determine remuneration Remuneration Committee (Principle B.2)
Report of the Board Human Resources
and Remuneration Committee
2-21 Annual total
compensation ratio 		2-21 Confidentiality constraints Industry does not disclose this information due to confidentiality reasons.
2-22 Statement on sustainable development strategy Message from Chairman “Sustainability: a core principle in value creation”
2-23 Policy commitments Annual Report of the Board of Directors
Introducing our 56th Annual Report –
“Our reporting journey”
Responsible Organisation
Community Engagement
Policies, procedures, and limits
Risk management tools
2-24 Embedding policy
commitments 		Responsible Organisation
Community Engagement
Policies, procedures, and limits
Risk management tools
2-25 Processes to remediate negative impacts Integrating material matters into
strategy and governance
Code of Ethics, Whistleblowing,
Anti-bribery and Anti-corruption and Group Conduct Risk Management Policy Framework
Risk Governance and Management –
Key objectives of risk oversight
2-26 Mechanisms for seeking advice and raising concerns Whistleblowing (Principle D.6.4)
Annex 1.1: 3 (1) (i) (d) Compliance with Banking Act Direction – Communication with all stakeholders
2-27 Compliance with
laws and regulations 		Annual Report of the Board of Directors
2-28 Membership associations Bank’s Sustainability Framework
2-29 Approach to stakeholder engagement Engaging with Our Stakeholders
2-30 Collective bargaining agreements Job security and collective bargaining
Material topics
GRI 3: Material
Topics 2021 		3-1 Process to determine
material topics 		Material Matters
3-2 List of material topics Material Matters – holistic view
3-3 Management of material topics Material Matters – holistic view
Economic performance
GRI 201: Economic Performance 2016 201-1 Direct economic value generated and distributed Annex 4: Our Sustainability Footprint
201-2 Financial implications
and other risks and opportunities due to climate change 		Climate Position Statement of
Commercial Bank of Ceylon PLC
201-3 Defined benefit plan obligations and other retirement plans Note 48.3 to the Financial Statements – Provision for unfunded pension scheme
Note 48.5 to the Financial Statements – Employee retirement benefit
201-4 Financial assistance
received from Government 		The Bank did not receive financial assistance from the Government during the year under review
Indirect economic impacts
GRI 203: Indirect Economic
Impacts 2016 		203-1 Infrastructure investments and services supported Community Engagement
203-2 Significant indirect
economic impacts 		Financial Inclusion:Impact
and vision for SMEs
Anti-corruption
GRI 205: Anti-corruption 2016 205-1 Operations assessed for risks related to corruption Anti-bribery and Anti-corruption
Bribery and corruption – related risks
205-2 Communication and
training about anti-corruption policies and procedures 		Anti-bribery and Anti-corruption
Anti-bribery and Anti-corruption (Principle D.6.1)
205-3 Confirmed incidents of corruption and actions taken The Bank did not come across incidents of
corruption during the year 2024
Anti-competitive behaviour
GRI 206: Anti-competitive Behaviour 2016 206-1 Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices There were no legal proceedings relating to anti-competitive behaviour, anti-trust, and monopoly practices during the year 2024. Note 59 to the Financial Statements- Litigations against the Bank
Tax
GRI 207: Tax 2019 207-1 Approach to tax 9. Material Accounting Policies – Taxes and Levies
207-2 Tax governance, control, and risk management 9. Material Accounting Policies – Taxes and Levies
207-3 Stakeholder engagement and anagement of concerns related to tax Figure 13 – Mode and Frequency of Stakeholder Engagement
207-4 Country-by-country reporting 9. Material Accounting Policies – Taxes and Levies
Energy
GRI 302: Energy 2016 302-1 Energy consumption within the organisation Annex 4: Our Sustainability Footprint
302-2 Energy consumption outside of the organisation 302-2 Not applicable Due to the nature of the operations of the Bank
302-3 Energy intensity 302-3 Not applicable Due to the nature of the operations of the Bank
302-4 Reduction of energy consumption Annex 4: Our Sustainability Footprint
302-5 Reductions in energy requirements of products
and services 		302-5 Not applicable Due to the nature of the operations of the Bank
Emissions
GRI 305:
Emissions 2016 		305-1 Direct (Scope 1) GHG emissions Annex 4: Our Sustainability Footprint
305-2 Energy indirect (Scope 2) GHG emissions Annex 4: Our Sustainability Footprint
305-3 Other indirect (Scope 3) GHG emissions 305-3 Not applicable Due to the nature of the operations of the Bank
305-4 GHG emissions intensity 305-4 Not applicable Due to the nature of the operations of the Bank
305-5 Reduction of GHG emissions 305-5 Not applicable Due to the nature of the operations of the Bank
305-6 Emissions of ozone-depleting substances (ODS) 305-6 Not applicable Due to the nature of the operations of the Bank
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions 305-7 Not applicable Due to the nature of the operations of the Bank
Employment
GRI 401:
Employment 2016 		401-1 New employee hires and employee turnover Annex 4: Our Sustainability Footprint
401-2 Benefits provided to full-time employees that are not provided to temporary or part-time employees Note 7.8 Employee benefits
401-3 Parental leave Annex 4: Our Sustainability Footprint
Occupational health and safety
GRI 403: Occupational
Health and
Safety 2018 		403-1 Occupational health and safety management system Workplace morale & well-being
403-2 Hazard identification, risk assessment, and incident investigation Safety preparedness
403-3 Occupational health services 403-3 Not applicable
403-4 Worker participation, consultation, and communication on occupational health and safety 403-4 Not applicable
403-5 Worker training on occupational health and safety 403-5 Not applicable
403-6 Promotion of worker health Safety preparedness
403-7 Prevention and mitigation of occupational health and safety impacts directly linked by business relationships 403-7 Not applicable
403-8 Workers covered by
an occupational health and
safety management system 		403-8 Not applicable
403-9 Work-related injuries There has been no injuries during the year
403-10 Work-related ill health 403-10 Not applicable
Training and education
GRI 404: Training
and Education
2016 		404-1 Average hours of training per year per employee Annex 4: Our Sustainability Footprint
404-2 Programmes for upgrading employee skills and transition assistance programmes Safety preparedness
404-3 Percentage of employees receiving regular performance and career development reviews Annex 4: Our Sustainability Footprint
Diversity and equal opportunity
GRI 405: Diversity and Equal Opportunity 2016 405-1 Diversity of governance bodies and employees Diversity, Equity, and Inclusion
Figure – 45 Composition of Board and attendance (as at December 31, 2024)
Annex 4: Our Sustainability Footprint
405-2 Ratio of basic salary and remuneration of women to men Annex 4: Our Sustainability Footprint
Customer privacy
GRI 418: Customer Privacy 2016 418-1 Substantiated complaints concerning breaches of customer privacy and losses
of customer data 		The Bank did not come across any complaint that had resulted in a reputational damage or significant financial loss during the year under review.
Non-GRI
disclosures 		Instability and lack of policy consistency 55 – 61 Operating environment and Outlook
Economic slowdown 55 – 61 Operating environment and Outlook
Directed lending 105 Financial Inclusion: Impact and vision for SMEs
Higher regulatory capital 157 Financial Review – Capital
Envisaged upturn in private sector credit and improvement in asset quality 55 – 61 Operating environment and Outlook
Changing customer expectations 93 Crafting a customer-centric future

* The reduction in Direct Economic Value Generated for the year ended December 31, 2024 was due to derecognition loss on restructuring of SLISBs amounting to Rs.45.108 Bn.

Close