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DFCC Bank : takes a Digital-First approach with the launch of the Annual Report 2020

03/18/2021 | 06:04am EDT

DFCC Bank opted for a digital-first approach for its Annual Report 2020 aptly adapting to the 'new normal' and fast tracking the Bank's goal of becoming the most customer-centric and digitally enabled bank by the year 2025. Sending shareholders the link to the comprehensive end-to-end HTML annual report has several advantages. Key among them is saving printing, CD production, and snail mail costs; driving down our carbon footprint; and getting the end-to-end HTML annual report to shareholders' hands almost instantaneously after its release.'

'Customer centricity and a digital-first tactic is the basis of our Vision 2025 strategy,' Chief Executive Officer of DFCC Bank, Lakshman Silva states. 'They are the main contributor to our sound results and the Bank's ability to agilely adapt to the changing situation in 2020. We are now ready to acquire and on-board customers remotely via our digital platforms. What's more, in terms of our environmentally-conscious outlook, we continue to be the preferred lender for 'green' development projects including waste-to-energy, hydro, wind, and solar energy projects. DFCC Bank is ready for business in 2021.'

DFCC has long championed the use of multiple mediums and formats for its annual report to effectively meet the diverse interests of stakeholder groups. The comprehensive integrated annual report in online HTML format remains at the core, with its special features enabling the Bank to effectively target the diverse interests of stakeholder groups. The concise integrated annual report in print PDF is also available for archiving and for statutory filing purposes. Complementing these are the Annual Snapshots in multiple languages and formats. In addition, the Bank was the first to offer an annual report Updater Portal and a complementary annual report Updater App that regularly captures important post-annual report information for stakeholders.

About DFCC

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.


DFCC Bank plc published this content on 16 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2021 11:03:05 UTC.

© Publicnow 2021
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Sales 2020 12 092 M 61,2 M 61,2 M
Net income 2020 2 745 M 13,9 M 13,9 M
Net Debt 2020 70 248 M 356 M 356 M
P/E ratio 2020 7,26x
Yield 2020 -
Capitalization 18 911 M 95,6 M 95,8 M
EV / Sales 2019 9,71x
EV / Sales 2020 7,46x
Nbr of Employees 2 182
Free-Float 87,1%
Duration : Period :
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Income Statement Evolution
Mean consensus BUY
Number of Analysts 1
Average target price 74,85 LKR
Last Close Price 59,00 LKR
Spread / Highest target 26,9%
Spread / Average Target 26,9%
Spread / Lowest Target 26,9%
Managers and Directors
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
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