LB Finance Strikes Gold as Overall Winner at ‘CMA Excellence in Integrated Reporting Awards 2021’

It was a victorious awards night for LB Finance at the recently concluded CMA Excellence in Integrated Reporting Awards 2021. Organized by the institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) and held at the Hotel Taj Samudra on 11th January 2022, LB Finance beat many reputable corporate companies for the evening’s top honors, winning five awards including the Overall Winner – Gold Award. LB Finance also won the inaugural CMA CFO Excellence Award, awarded for the first time in the competition for outstanding Integrated Reporting. In addition, it also took home the trophies for Top Five Excellence Reports Award, Winner Best Integrated Report – Finance and Leasing Sector, Winner Special Award – Best Disclosure on Capitals, and Winner Special Award – Best SDG Reporting.

Organized for the 7th year in succession, the CMA Excellence in Integrated Reporting Awards is supported annually by the Colombo Stock Exchange and encourages Sri Lankan private companies and government institutions, both listed and unlisted, to follow principles of integrated reporting that benefits investors and stakeholders. Strictly evaluated on guidelines that apply in the International Framework, the integrated reports are judged on Guiding Principles and Content Elements and Fundamental Concepts appearing in the International Framework issued by the International Integrated Reporting Council (IIRC).

It takes into consideration not only the accounting and financial information but also non-financial information provided with special emphasis given to strategic focus and future orientation, value creation, connectivity of information and reliability and completeness. Upholding these rigorous standards, companies must maintain excellence in their integrated reporting to qualify for these awards.

Managing Director LB Finance PLC, Mr. Sumith Adhihetty commented, “It’s an honuor to have won five awards and we are proud to have won the gold for Overall Winner and to also be the first-time winner of the CMA CFO Excellence Award. These awards are proof that LB Finance believes in being diligent about their financial disclosures so that our stakeholders and customers remain confident in our work. Even though the COVID19 pandemic made 2021 challenging, we managed to close the accounts at the end of the financial year. Our team continues to exceed expectations, delivering excellence once again while upholding the values of responsible financial reporting and transparency.”

LB Finance PLC is licensed by the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 and listed on the Main Board of the Colombo Stock Exchange. The company offers a variety of financial services including leasing, factoring, hire purchasing, microfinance, mortgage loans, housing loans, education loans, gold loans, currency exchange and Western Union Money Transfer services through an island-wide branch network and Gold Loan Centres, offering unparalleled convenience to all customers. LB Finance has an A- (lka) rating from Fitch Ratings Lanka Ltd. with a stable outlook.