Related party disclosures as required by the Sri Lanka Accounting Standard – LKAS 24 on ‘Related Party Disclosures’ are detailed in Note 55 to the Financial Statements on pages 262 to 267. In addition, the transactions that have been carried out 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, are detailed below:
| Company |
Relationship |
Nature of Transactions |
Limit ’000* |
Balance/Amount
Outstanding as at 31.12.2016 ’000* |
Balance/Amount
Outstanding as at 31.12.2015 ’000* |
| Mr Ronald C Perera | |||||
| Bank of Ceylon (UK) Limited | Chairman | Current accounts (Nostro accounts) | USD 659 | USD 1,076 | |
| 98,775** | 155,010** | ||||
| GBP 531 | GBP 665 | ||||
| 97,755** | 141,951** | ||||
| EURO 1,656 | EURO 1,923 | ||||
| 261,444** | 302,673** | ||||
| Placements | USD 8,000 | USD 20,500 | |||
| 1,198,400** | 2,953,277** | ||||
| GBP 73,400 | GBP 73,500 | ||||
| 13,508,852** | 15,697,571** | ||||
| EURO 1,000 | EURO 1,000 | ||||
| 157,874** | 157,374** | ||||
| – | JPY 5,000 | ||||
| – | 5,980** | ||||
| Mr Ranel T Wijesinha | |||||
| Hotels Colombo (1963) Limited | Director | Savings accounts | 13,278 | ||
| Current accounts | 12,711 | ||||
| Time deposits | 129,926 | ||||
| Loans | 1,760 | ||||
| Other receivables | 38,285 | ||||
| Mr Sajith R Attygalle | |||||
| Airport and Aviation Services (Sri Lanka) Limited | Director | Savings accounts | 484,227 | ||
| Current accounts | 1,399,730 | ||||
| Time deposits | 2,890,369 | ||||
| Letters of credit | 240,740 | ||||
| Letters of guarantee | 50,000 | 18,300 | |||
| Mr Charitha N Wijewardane | |||||
| Hotels Colombo (1963) Limited | Chairman | Savings accounts | 27,289 | ||
| Current accounts | 11,769 | ||||
| Time deposits | 139,275 | ||||
| Loans | 6,555 | ||||
| Other receivables | 18,183 | ||||
| Merchant Bank of Sri Lanka & Finance PLC | Director | Current accounts | 146,817 | ||
| Time deposits | 16 | ||||
| Loans | 1,500,000 | 1,324,435 | |||
| Overdrafts | 288,000 | 31,732 | |||
| Repo | 265,377 | ||||
| Leasing | 1,470 | ||||
| Investments in debentures | 221,594 | ||||
| BOC Travels (Private) Limited | Director | Current accounts | 7,434 | ||
| Time deposits | 146,358 | ||||
| Overdrafts | 7,600 | – | |||
| Leasing | 2,319 | ||||
| Debentures | 15,062 | ||||
| Letters of guarantee | 55,600 | 55,600 | |||
| Other receivables | 92 | ||||
| Other payables | 497 | ||||
| MBSL Insurance Company Limited | Director | Current accounts | 6,555 | ||
| Repo | 16,005 | ||||
| Letters of guarantee | 5,950 | ||||
| Other payables | 1 | ||||
| John Keells PLC | Director | Current accounts | 27,035 | ||
| Overdrafts | 43,500 | – | |||
| Mr H P Ajith Gunawardana | |||||
| Lanka Securities (Private) Limited | Director | Current accounts | 10,486 | ||
| Time deposits | 102,879 | ||||
| Overdrafts | 25,000 | – | |||
| Repo | 22,007 | ||||
| Mr Sanjaya Padmaperuma | |||||
| Koladeniya Hydropower (Private) Limited | Director | Current accounts | 1,563 | ||
| Time deposits | 207,275 | ||||
| Repo | 14,122 | ||||
| Sri Lanka Insurance Corporation Limited | Director | Savings accounts | 111,220 | ||
| Current accounts | 93,428 | ||||
| Time deposits | 4,585,918 | ||||
| Overdrafts | 2 | ||||
| Letters of credit | 40,000 |
*Currencies not specifically mentioned are in LKR
**LKR equivalent amount
*Currencies not specifically mentioned are in LKR