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SAMPATH BANK PLC

ANNUAL REPORT 2016

Sampath Bank has long been recognized as a driver of innovation in the local banking industry. For over 30

years, we have delivered the finest in customer-friendly products and services designed to enable speed,

access and convenience. Our focus is always to serve our stakeholders with better value than anyone else.

That"s why we have developed world class digital banking technologies, the My Bank franchise supporting our

islandwide branch network and our creative and talented team. These are the synergies that power the inspired

financial solutions we deliver online and in real time, every single day. A COMPELLING THOUGHT. A STUBBORN BELIEF. A PERSISTENT DREAM THAT WON'T GO AWAY. THINK ABOUT WHAT YOU CAN ACHIEVE WHEN YOU BELIEVE THAT NOTHING IS IMPOSSIBLE. YOUR BOUNDARIES FALL AWAY. YOUR LIMITATIONS DISAPPEAR. EVERYTHING YOU THOUGHT WAS BEYOND YOUR REACH IS NOW IN THE PALM OF YOUR HAND. 30 YEARS AGO WE BELIEVED WE COULD IMAGINSPIRE OUR

DREAMS THROUGH THE POWER OF OUR WILL.

TODAY WE KNOW WE WERE RIGHT.

SAMPATH BANK

Imaginspired

IMAGINSPIRED

2

SAMPATH BANK PLC

ANNUAL REPORT 2016

CONTENTS

Report Profile ...........................................4 Financial Highlights .................................6 Non-Financial Highlights .........................9

INTRODUCTORY INFORMATION

Our Vision and Our Values ....................12

About The Company .............................13

Product Portfolio ....................................14 Board of Directors .................................16

Corporate Management ........................22

Chief Managers .....................................25 Senior Managers ...................................28

MANAGING OUR BUSINESS

Chairman"s Message .............................32

Managing Director"s Review ..................38

Green Recognition ................................44 Sustainability Framework .......................45

Stakeholder Engagement ......................46

Business Model .....................................50 Materiality Assessment ..........................52

MANAGEMENT DISCUSSION & ANALYSIS

Operating Environment .........................56

CAPITAL MANAGEMENT REPORTS

Financial Capital ....................................60 Manufactured Capital ............................64 Intellectual Capital .................................70 Human Capital .......................................73

Social and Relationship Capital

Customer ...........................................82 Supplier ..............................................86 Community .........................................87 Natural Capital .......................................94

BUSINESS REPORTS

Personal and Branch Banking

Deposits .............................................99

Loans and Advances .......................100

Cards ...............................................101

Corporate Banking

Corporate Finance ...........................103

Corporate Credit ..............................104

Commercial Credit ...........................105

FCBU ...............................................106

Development Banking

MSME Development ........................107

Project Finance ................................108

Global Business

International Operations ..................109

Bank Notes Operations ....................110

Remittances .....................................111 Trade Services .................................112

Nostro Accounts, Correspondent

Banks and Exchange Companies ...113

Treasury ...............................................114Operational Support

NSC and CCD ..................................115

Recoveries .......................................117

Performance of Subsidiaries

Siyapatha Finance ...........................118

SC Securities ...................................119

Sampath Centre ...............................120

SITS ..................................................121 Investor Information .............................123 Future Outlook .....................................134

RISK & GOVERNANCE

Risk Management Report ....................136

Compliance Review .............................151

Corporate Governance .......................153

Board Audit Committee Report ...........198

Board Human Resources and

Remuneration Committee Report ....202

Board Nomination Committee Report .204

Board Integrated Risk Management

Committee Report ............................206

Board Related Party Transactions

Review Committee Report ...............209

Board Credit Committee Report ..........210

Board Strategic Planning

Committee Report ............................212

Board Shareholder Relations

Committee Report ............................214

Board Treasury Committee Report ......216

Board Marketing Committee

Report ..............................................217 3

Read this Report Online

www.sampath.lk

FINANCIAL INFORMATION

Financial Calendar ..............................220

Annual Report of the Board of

Directors on the Affairs of the

Company .........................................221

Directors" Interest in Contracts

with the Bank ...................................230

Directors" Statement on Internal

Control Over Financial Reporting ....231

Independent Assurance Report

to the Board of Directors of

Sampath Bank PLC ..........................233

Managing Director"s and

Chief Financial Officer"s

Responsibility Statement .................234

Statement of Directors"

Responsibility for Financial

Reporting .........................................235

Independent Auditors" Report

to the Shareholders of

Sampath Bank PLC ..........................237

Statement of Profit or Loss ..................238

Statement of Comprehensive Income .239

Statement of Financial Position ...........240

Statement of Cash Flows .....................242

Statement of Changes in Equity ..........244

Notes to the Financial Statements .......246

SUPPLEMENTARY INFORMATION

Statement of Profit or Loss in US$ .......378

Statement of Comprehensive Income

in US$ ..............................................379

Statement of Financial Position

in US$ ..............................................380

Economic Value Addition ....................381

Ten Years at a Glance .........................382 Quarterly Statistics ..............................383 Capital Adequacy ................................385

GRI G4 Content Index .........................390

Other Sustainability Disclosures ..........398

Independent Assurance Report

to the Shareholders of Sampath Bank PLC .........................................409

Glossary of Financial and

Banking Terms .................................410 Abbreviations ......................................416

Notice of Annual General Meeting ......418

Stakeholder Feedback Form ...............419

Corporate Information ........................IBC 4

REPORT PROFILE

SCOPE AND BOUNDARY

Covering the period 1st January 2016

to 31st December 2016, this annual report marks the 3rd milestone on our integrated reporting journey. The report comprehensively covers the performance of Sampath Bank PLC for the reporting period and includes among other matters; an analysis of the operational results, a review of the financial performance and an overview of the Bank"s corporate governance, risk management and compliance frameworks, in accordance with the

Code of Best Practice on Corporate

Governance issued jointly by the

Institute of Chartered Accountants of

Sri Lanka and the Securities and

Exchange Commission of Sri Lanka,

the listing rules of the CSE and the

Banking Act Direction No. 11 of 2007

on Corporate Governance for Licensed

Commercial Banks in Sri Lanka, issued

by the Central Bank of Sri Lanka.

Further, in the interest of completeness,

an overview of the performance of the Group"s subsidiary companies for the same period is also provided in a separate section of the report.

REPORTING FRAMEWORKS

This integrated annual report remains

the primary source of communication with stakeholders and its main objective is to show how we are working to improve every aspect of our business for the benefit of our stakeholders.

Accordingly, this report has been

prepared in accordance with the

IIRC"s Framework "Six Capitals",

Reporting Framework, and the Capital

Management Report on pages 59

through 97 details the work we are putting in to strengthen each of the "Six Capitals" for the benefit of ourquotesdbs_dbs46.pdfusesText_46

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