- Annual Report of the Directors on the State of Affairs of Bank of Ceylon
- Directors’ Interest in Contracts
- Directors’ Statement on Internal Control Over Financial Reporting
- Independent Assurance Report
- Directors’ Responsibility for Financial Reporting
- Report of the Auditor General
- Statement of Profit or Loss
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Changes in Equity
- Statement of Cash Flows
- Notes to the Financial Statements
Directors’ Interest in Contracts
Related party disclosures as required by the Sri Lanka Accounting Standard LKAS 24 – “Related Party Disclosures” are detailed in Note 57 to the Financial Statements.
In addition, the transactions that have been carried out in the ordinary course of business in 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 31.12.2017 ’000 |
Balance/Amount Outstanding as at 31.12.2016 ’000 |
| Mr Ronald C Perera PC Bank of Ceylon (UK) Limited |
|||||
| Chairman | Current accounts | USD 4,881 | USD 659 | ||
| (Nostro accounts) | *746,084 | *98,775 | |||
| GBP 232 | GBP 531 | ||||
| *47,684 | *97,755 | ||||
| EURO 1,017 | EURO 1,656 | ||||
| *185,588 | *261,444 | ||||
| Placements | USD 8,000 | USD 8,000 | |||
| *1,222,838 | *1,198,400 | ||||
| GBP 55,300 | GBP 73,400 | ||||
| *11,366,152 | *13,508,852 | ||||
| EURO 1,000 | EURO 1,000 | ||||
| *182,486 | *157,874 | ||||
| Hotels Colombo (1963) Limited [Mr Ronald C Perera PC appointed as the Acting Chairman of Hotels Colombo (1963) Limited w.e.f. 19 October 2017] |
Acting Chairman |
Savings accounts | 6,046 | ||
| Current accounts | 12,563 | ||||
| Time deposits | 152,278 | ||||
| Loans | 5,243 | ||||
| Other receivables | 47,050 | ||||
| Mr Sajith R Attygalle Airport and Aviation Services (Sri Lanka) Limited [As at 31 December 2017 Mr Sajith R Attygalle was not a Director of 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 | 18,300 | ||||
| Mr Ranel T Wijesinha Koladeniya Hydropower (Private) Limited [Mr Ranel T Wijesinha appointed as a Director of Koladeniya Hydropower (Private) Limited w.e.f. 25 October 2017] |
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| Director | Current accounts | 2,551 | |||
| Time deposits | 237,165 | ||||
| Repo | 6,103 | ||||
| Mr H P Ajith Gunawardana Lanka Securities (Private) Limited |
|||||
| Director | Current accounts | 10,835 | 10,486 | ||
| Time deposits | 231,400 | 102,879 | |||
| Overdrafts | 25,000 | ||||
| Repo | 77,037 | 22,007 | |||
| Mr Samantha Rajapaksa [Mr Samantha Rajapaksa appointed as a Director of Bank of Ceylon w.e.f. 25 July 2017] Associated Motorways (Private) Limited |
|||||
| Director | Savings accounts (LKR) | 71,849 | |||
| Savings accounts | USD 3,306 | ||||
| *505,274 | |||||
| Current accounts | 119,592 | ||||
| Time deposits | USD 156 | ||||
| *23,904 | |||||
| Shipping guarantee | 250,000 | 20,709 | |||
| Letter of credit | 1,000,000 | 822,239 | |||
| Hypothecation loan | 200,000 | – | |||
| Acceptance | 9,660 | ||||
| Letter of guarantee | 100,000 | 36,267 | |||
| Export collections | 15,124 | ||||
| Import bills | 234 | ||||
| Associated Autoways (Private) Limited | Director | Current accounts | 1,946 | ||
| Letter of guarantee | 1,000 | – | |||
| Shipping guarantee | 6,000 | – | |||
| Letter of credit | 6,000 | – | |||
| Hypothecation loan | 8,000 | – | |||
| Associated Motor (Lanka) Company Limited | Director | Current accounts | 249 | ||
| Letter of credit | 90,000 | – | |||
| Shipping guarantee | 120,000 | – | |||
| Hypothecation loan | 19,975 | – | |||
| Letter of guarantee | 5,000 | – | |||
| AMW Capital Leasing and Finance PLC | Director | Savings accounts | 4,700 | ||
| Current accounts | 15,523 | ||||
| Mr Mohan Wijesinghe [Mr Mohan Wijesinghe appointed as a Director of Bank of Ceylon w.e.f. 24 November 2017] Lanka Hospitals PLC |
|||||
| Director | Savings accounts | USD 235 | |||
| *35,944 | |||||
| Current accounts | 53,555 | ||||
| Time deposits | USD 6,301 | ||||
| *963,159 | |||||
| Maga Naguma Consultancy and Project Management Services Company (Pvt) Limited |
Director |
Current accounts |
2,864 |
* LKR equivalent amount.
Note: Currencies not specifically mentioned are in LKR.