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DFCC BANK PLC

(DFCC.N0000)
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DFCC Bank : Pioneering its way to encouraging Cycling to Work

04/08/2021 | 05:08pm EDT

'Achieving Sustainable Work-Lifestyles by 2030' is one of the Big Goals that DFCC Bank has identified in its Sustainability Strategy for 2020 - 2030. The Bank seeks to advance sustainable workplaces and lifestyles via governance, including sustainable workplace practices, as well as lifestyles for clients and staff in general. This includes a range of elements from promoting diversity and inclusivity, to productivity oriented wellness and sustainable consumption and lifestyle practices. In this regard, the new 'Bike to Work' initiative which was launched by the Bank's wellness committee, 'OMMM', was the latest bank wide initiative launched to encourage its employees to maintain a sustainable and healthy lifestyle.

This is not a one off activity as a 'Bike to Work' day will be organized each month in an effort to propagate a healthy lifestyle across the Bank network. DFCC Bank has also made a commitment to give cycling high priority by encouraging staff to take on cycling as a hobby. As this was the first time that a Bank of this magnitude arranged an official cycle to work day, DFCC Bank intends to dominate the cycling space in the country and make it a life style choice.

Not only does this initiative demonstrate DFCC Bank's strong commitment to nurture the wellbeing of its staff, it also highlights the financial institution's stance on caring for the environment. As cycling to work has an undeniable impact on the reduction of the bank's carbon footprint, the 'Bike to Work' initiative aligns well with the DFCC Bank's focus on ensuring a meaningful and sustainable contribution to climate change mitigation and responsible resource utilization.

The OMMM initiative, launched by DFCC Bank in 2021, will be introducing many more projects designed to focus on the mental and physical health and wellbeing of staff and their families.

About DFCC Bank

DFCC Bank is a full-service Commercial Bank with a legacy of 65 years as one of Sri Lanka's foremost financial conglomerates offers a gamut of commercial and development banking services. The Bank was ranked amongst Business Today's Top 30 Corporates in Sri Lanka and was also positioned amongst Brand Finance's Top 100 Most Valuable Brands, 2020. DFCC Bank is rated [SL] AA- Stable by ICRA Lanka Limited and A+ (lka) Stable by Fitch Ratings Lanka Limited.

Disclaimer

DFCC Bank plc published this content on 08 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2021 21:07:01 UTC.


© Publicnow 2021
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Financials
Sales 2020 12 092 M 61,7 M 61,7 M
Net income 2020 2 745 M 14,0 M 14,0 M
Net Debt 2020 70 248 M 359 M 359 M
P/E ratio 2020 7,26x
Yield 2020 -
Capitalization 19 424 M 100 M 99,2 M
EV / Sales 2019 9,71x
EV / Sales 2020 7,46x
Nbr of Employees 2 182
Free-Float 87,1%
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Mean consensus BUY
Number of Analysts 1
Average target price 74,85 LKR
Last Close Price 60,60 LKR
Spread / Highest target 23,5%
Spread / Average Target 23,5%
Spread / Lowest Target 23,5%
Managers and Directors
NameTitle
Lakshman H. A. L. Silva Chief Executive Officer & Executive Officer
Chinthika Amarasekara Chief Financial Officer & Vice President
Jegatheesan Durairatnam Chairman
Nishan Weerasooriya Vice President & Head-Information Technology
Rohitha Ganegoda Chief Information Officer & Senior Vice President