Union Bank recognised for transparency in Corporate Reporting

Sandamali Munasinghe -Assistant Vice President Legal of Union Bank receiving the certificate of recognition from Nadishani Perera – Executive Director of Transparency International Sri Lanka 

Union Bank was recognised within the Top 100 public limited companies in Sri Lanka for transparency in corporate reporting as a result of the Corporate Reporting Assessment carried out by Transparency International Sri Lanka (TISL) for the year 2022.  

The bank was placed 14/100 and received an overall rating of 8.39/10 for being significantly transparent in corporate reporting. The bank was ranked fully transparent on Organisational Transparency and significantly transparent on Anti-corruption and Domestic Financial Reporting. 

This recognition is based on improvements carried out by the organisations on the corporate reporting process focusing on TISL guidelines on anti-corruption programmes, organisational transparency, domestic financial Reporting, country-country reporting, gender and non-discrimination policies, and reporting on procurement-related to government contracts/tenders.

Transparency in Corporate Reporting Assessment 2022 is an independent assessment of corporate disclosure practices among the top 100 public limited companies in Sri Lanka, conducted by TISL. The research methodology adapted, draws on Transparency International’s standard TRAC methodology.