MERCHANT BANK OF SRI LANKA & FINANCE PLC — Governance risk

Governance risk — MERCHANT BANK OF SRI LANKA & FINANCE PLC

Board composition, director tenure and turnover, committee effectiveness, succession gaps.

Model weight: 25% of the total score.

Signals in this category

53.6

Elevated (53.6)

From the annual recalculation record for FY2025.

Diversified Financials sector average for FY2025: 70.6 — this company is below the sector average.

Severity	Signal	Points	Year	Source section	Evidence
Low	no female directors	+1	2026	—	View evidence No female directors on 17-member board
Low	low independent directors	+2	2026	—	View evidence Independent directors 0.0% (below 33%)
Low	no female directors	+1	2024	—	View evidence No female directors on 22-member board
Low	low independent directors	+2	2024	—	View evidence Independent directors 22.7% (below 33%)
Low	no female directors	+1	2023	—	View evidence No female directors on 18-member board
Low	low independent directors	+2	2023	—	View evidence Independent directors 22.2% (below 33%)
Low	no female directors	+1	2022	—	View evidence No female directors on 16-member board
Low	low independent directors	+2	2022	—	View evidence Independent directors 25.0% (below 33%)
Low	no female directors	+1	2020	—	View evidence No female directors on 13-member board
Low	low independent directors	+2	2020	—	View evidence Independent directors 7.7% (below 33%)
Low	audit committee effectiveness	+2	2015	audit committee	View evidence Audit committee charter not disclosed
Low	audit committee frequency	+2	2015	audit committee	View evidence Audit committee meeting frequency not disclosed
Low	audit committee frequency	+2	2014	audit committee	View evidence Audit committee meeting frequency not disclosed
Low	audit committee effectiveness	+2	2013	audit committee	View evidence No independent members disclosed in audit committee (1 members)