Bank of Ceylon wins at BCCS Awards 2017

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By 2017-12-07

The Bank of Ceylon (BOC) won two awards at the Best Corporate Citizen Sustainability Award Ceremony 2017, held recently at the Cinnamon Grand, Colombo, stated a press release. BOC was the winner of the 'Triple Bottom Line - Economic Sustainability (Profit) award' and 'Economic Contribution award'.

These were awarded in recognition of BOCs sustainable business growth, economic value creation and contribution towards the national economy. Organized by the Ceylon Chamber of Commerce (CCC), the event was graced by Japanese Ambassador in Sri Lanka Kenichi Suganuma as Chief Guest. The keynote speaker was David Bent, a global expert on Corporate Sustainability, the release added.

The Award Ceremony recognizes Business entities that have shown exemplary performances as sustainable corporate entities. Through this, the CCC encourages companies to follow the triple bottom line sustainability practices (People, Profit and Planet) to build a sustainable cycle, where the company's long-term sustainability thrives as much as it gives back to its stakeholders.

"Living up to its promise as 'Bankers to the Nation', the Bank of Ceylon has built its three pillars around its entire scope of operations to reap benefits for all its stakeholders. As a State bank, BOC's objective is to assist the Government of Sri Lanka's economic objectives that translate to the whole country's socio-economic development. The final beneficiaries of this process are all Sri Lankans in general. Currently BOC is the highest profit earning single business entity in the country. Its PBT of 2015 and 2016 were calculated as Rs 25.3 billion and Rs 31.2 billion respectively," stated General Manager D. M. Gunasekara. "The bank has undergone a digital-infused transformation that has reduced operational costs and contributed towards the Government of Sri Lanka, its main stakeholder. With its ability to reach every economic segment in the country with island-wide network of branches and its products that address the needs of these segments, Corporate Social Responsibility is an every-day business practice for BOC."

The bank has formulated its Sustainability Policy to address the placement of procedures and processes to strengthen the triple bottom line's Social, Economic and Environmental pillars. It stated that its digital transformation that commenced early 2014 replaced many traditional procedures, policies and technologies, plotting a course for 'Green Banking'.

BOC has been engaged in green initiatives such as paper recycling, e-waste management, eco-friendly equipment, energy-efficient lighting systems in branches and the head office, and maintaining green gardens with rainwater harvesting systems along with a solar-powered system in selected branches. The bank also planted 100,000 trees in line with the bank's 75th anniversary in 2014, gathering school children and participants from all over the country. The bank's Kilinochchi branch was endorsed as a 'green branch' recently, as it was designed with a solar energy system, utilizes space and architectural design to obtain more natural light and air, a vertical green garden to keep the interior cool, a rainwater harvesting system and a SmartZone for digital banking.

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