Wins top award in Non-Banking Financial Services Sector & Excellence in Corporate Governance
Reiterating leadership in the Non-Banking Financial Services Sector, Citizens Development Business Finance PLC (CDB) was crowned winner for the sixth consecutive year at the National Business Excellence Awards 2023 at a gala ceremony at Shangri-la Colombo recently. Also winning the category of Excellence in Corporate Governance, CDB continues to showcase trailblazing leadership traits in the NBFI sector, that have formed the solid foundation for its consistent performance throughout its 28 year journey.
The NBEA now in its 18th year is organized by the National Chamber of Commerce of Sri Lanka. It is a benchmark of business excellence, recognizing business enterprises that have demonstrated excellence in business and contribution to the economic progress of the country. CDB’s wins as a leader in the NBFI sector and for demonstrating excellence in corporate governance stems from recognition of its business excellence, sustainable business model and best practices instituted during an unprecedently challenging period in the period under review.
Director/Deputy CEO/CFO of CDB Damith Tennakoon pitches CDB’s governance culture as one that goes beyond compliance supported by sound risk management strategies that have held CDB in good stead during trying times. “This is the foundation for the business excellence that we champion” he says. “This culture has been the primary tool for the resilience displayed by CDB during the last three years, which enables us to forge a sustainable future. Into this equation of sound and effective governance, we drive in the formula of financial inclusion and advancing the green economy to empower the aspirations of our customers, community and the country.”
Appreciating the integral role played by Team CDB, customers, valued business partners and the wider stakeholder community in ensuring CDB continues its journey of excellence, Tennakoon says, “CDB’s journey in the financial services industry has been augmented due to the loyalty, commitment and confidence our stakeholders have had in us. It is these fundamentals that keep CDB’s leadership in the sector a consistent and sustainable attribute.”
The NBEA 2023 applications, which span an expansive range of industries and businesses in various categories, were evaluated by an eminent panel of judges headed by Sunil G Wijesinha on seven criteria; Excellence in Strategy & Leadership, Corporate Governance & Strategy, Capacity Building, Performance Management, Local and Global Market Reach, Corporate Social Responsibility & Environmental Sustainability and Business & Financial Results.
