Directors’ Interest in Contracts with the Bank

Related party disclosures as per the Sri Lanka Accounting Standard – LKRS 24 on “Related Party Disclosures” is disclosed in Note 64 to the Financial Statements of this Annual Report. In addition, the Bank carries out transactions in the ordinary course of business on an arm's length basis with entities where the Chairman or a Director of the Bank is the Chairman or a Director of such entities.

The results of such transactions at the Reporting date is given below:

Director/company Accommodation granted/deposits Current limit Balance/outstanding
31.12.2017 31.12.2017 31.12.2016
Rs. ’000 Rs. ’000 Rs. ’000
(a) Mr M P Jayawardena
Cal Exports Lanka (Pvt) Limited Loans and advances 9,984 557
Off-balance sheet accommodations 92,160 2,246
Deposits 1,961 68,525
Chemanex Exports (Pvt) Limited Loans and advances 10,000 45
Off-balance sheet accommodations 29,000 5,000 6,828
Deposits 20,539 19,327
CIC Holdings PLC Loans and advances Combined 756,640 6,640 831,804
Off-balance sheet accommodations Limits 1,512,000 356,919 303,124
Deposits 33,991 12,980
CIC Vetcare (Pvt) Limited Loans and advances Combined 100,000 161,218 102,107
Off-balance sheet accommodations Limits 152,000 13,005 51,903
Deposits 444 465
CIC Poultry Farms Limited Loans and advances 600,000 355,146 734,945
Off-balance sheet accommodations 100,000 100 3,304
Deposits 25 25
Rainforest Ecolodge (Pvt) Limited Deposits 9
(b) Prof A K W Jayawardane
Sierra Cables PLC Loans and advances Combined 1,220,528 588,169 950,702
Off-balance sheet accommodations Limits 690,000 1,215,861 811,597
Deposits 22,915 48,135
(c) Ms N T M S Cooray
The Solutions Group (Pvt) Limited Off-balance sheet accommodations 600 1,759
Deposits 2,658 27,798
Ceylon Tea Brokers PLC Loans and advances 150,000 145,417 189,617
Deposits 6,880 1,786
Jetwing Hotels Limited Loans and advances 14,154
Deposits 1,819 1,581
Negombo Hotels Limited Loans and advances 49,553
Deposits 2,187 2,067
The Lighthouse Hotel PLC Loans and advances 129,487
Deposits 7,168 1,996
Jetwing Travels (Pvt) Limited Loans and advances 49,797 17,824 23,334
Off-balance sheet accommodations 45,708 37,413 31,100
Deposits 1,061,490 893,499
Jetwing Air (Pvt) Limited Loans and advances 20,000
Off-balance sheet accommodations 38,119 30,608 38,193
Deposits 34,918 52,824
Jetwing Hotel Management
Services (Pvt) Limited
Deposits 127 130
Jetwing Real Estate (Pvt) Limited Loans and advances 157,120 141,304 169,253
Jetwing Events (Pvt) Limited Off-balance sheet accommodations 100 100 1,511
Deposits 19,786 18,304
Go Vacation Lanka Co.
(Pvt) Limited
Off-balance sheet accommodations 600 100 600
Deposits 7,548 4,697
N.J. Cooray Builders (Pvt) Limited Deposits 1,319 498
Yarl Hotels (Pvt) Limited Deposits 118 1,809
Jetwing Symphony Limited Deposits 1,105
Capital Alliance Holdings Limited Deposits 97 100
(d) Mr L D Niyangoda
A Baur & Company (Pvt) Limited Loans and advances Combined 7,959,524 5,748,724 5,501,731
Off-balance sheet accommodations Limits 5,890,000 3,532,959 3,057,700
Deposits 5,870,859 5,233,872
Baur Life Science (Pvt) Limited Off-balance sheet accommodations 11,509 29,754
Deposits 3,640 7,829
(e) Mr T L B Hurulle
(Appointed to the Board of the Bank with effect from 05.04.2017)
Kanrich Finance Limited Loans and advances 19,245 16,781 N/A
Off-balance sheet accommodations N/A
Deposits 11,489 N/A
(f) Mr S Renganathan
(Appointed as a Director of the Chamber with effect from 23.10.2017)
International Chamber of Commerce –
Sri Lanka
Deposits 16,987 16,987 N/A
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