Related Party Disclosures as required by the Sri Lanka Accounting Standard No. 30 on Related Party Disclosures (Revised 2005) is detailed in Note 38 to the Financial Statements. In addition, the Bank carries out transactions 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, as detailed below:
| Company |
Relationship |
Accommodation Granted/Deposits |
Limit As at 31.12.08
Rs. '000 |
Balance Outstanding
As at 31.12.08
Rs. '000 |
Balance Outstanding As at
31.12.07 *
Rs. '000 |
| (a) Mr. M.J.C. Amarasuriya |
|
|
|
|
|
| Pelwatte Sugar Industries PLC |
Chairman |
Loans & Advances |
175,000 |
115,137 |
227,810 |
| |
|
Deposits |
|
1,115 |
2,807 |
| Serendib Flour Mills (Pvt) Ltd. |
Chairman |
Loans & Advances |
3,299,223 |
249,684 |
331,074 |
|
|
Off Balance Sheet Accommodations |
4,020,000 |
724,805 |
– |
| |
|
Deposits |
|
175,833 |
34,224 |
| (b) Mr. B.R.L. Fernando |
|
|
|
|
|
| Chemical Industries (Colombo) PLC |
Chairman |
Loans & Advances |
100,000 |
67,990 |
6,349 |
|
|
Off Balance Sheet Accommodations |
100,000 |
2,161 |
40,882 |
| |
|
Deposits |
|
7,836 |
123 |
| Chemanex PLC |
Chairman |
Loans & Advances |
40,000 |
37,593 |
– |
|
|
Off Balance Sheet Accommodations |
43,000 |
9,289 |
4,822 |
| |
|
Deposits |
|
1,909 |
7,960 |
| CIC Agri Business (Pvt) Ltd. |
Chairman |
Loans & Advances |
1,114,000 |
785,931 |
655,510 |
| |
|
Off Balance Sheet Accommodations |
5,000 |
10,785 |
14,678 |
| CIC Agri Produce Marketing (Pvt) Ltd. |
Chairman |
Deposits |
727 |
580 |
|
| CIC Feeds (Pvt) Ltd. |
Chairman |
Loans & Advances |
1,032,295 |
756,440 |
543,778 |
|
|
Off Balance Sheet Accommodations |
5,000 |
4,677 |
253,816 |
| |
|
Deposits |
|
543 |
31 |
| CIC Seeds (Pvt) Ltd. |
Chairman |
Loans & Advances |
19,600 |
9,600 |
9,600 |
|
|
Off Balance Sheet Accommodations |
10,000 |
– |
66,483 |
| |
|
Deposits |
|
8,863 |
4,637 |
| CIC Agri Biotech (Pvt) Ltd. |
Chairman |
Loans & Advances |
15,000 |
2,240 |
8,172 |
|
|
Off Balance Sheet Accommodations |
15,000 |
313 |
113 |
| |
|
Deposits |
|
1,176 |
639 |
| CIC Vetcare (Pvt) Ltd. |
Chairman |
Loans & Advances |
80,000 |
80,119 |
73,313 |
|
|
Off Balance Sheet Accommodations |
30,000 |
9,491 |
37,835 |
| |
|
Deposits |
|
729 |
1,138 |
| CIC Cropguard (Pvt) Ltd. |
Chairman |
Deposits |
498 |
– |
|
| CIC Poultry Farms Ltd. |
Chairman |
Loans & Advances |
20,500 |
20,561 |
3,540 |
| |
|
Off Balance Sheet Accommodations |
20,000 |
– |
4,313 |
| CISCO Speciality Packaging (Pvt) Ltd. |
Chairman |
Loans & Advances |
125,000 |
41,157 |
48,024 |
| |
|
Off Balance Sheet Accommodations |
25,000 |
– |
3,638 |
| Akzo Nobel Paints Lanka (Pvt) Ltd. |
Chairman |
Deposits |
14,564 |
5,834 |
|
| Premier Electronics (Pvt) Ltd. |
Director |
Deposits |
563 |
429 |
|
| Rainwear (Pvt) Ltd. |
Director |
Loans & Advances (US$) |
295 |
209 |
142 |
| The Light House Hotel PLC |
Director |
Loans & Advances |
10,000 |
10,062 |
4,955
|
| |
|
Deposits |
|
624 |
631 |
| Link Natural Products (Pvt) Ltd. |
Director |
Deposits |
|
703 |
659 |
| Kelani Valley Canneries Ltd. |
Director |
Loans & Advances |
20,000 |
21,669 |
22,206 |
|
|
Off Balance Sheet Accommodations |
7,000 |
1,000 |
|
| |
|
Deposits |
|
3,562 |
3,127 |
| (c) Mr. A.N. Fonseka (Resigned w.e.f. January 31, 2009) |
| DFCC Stock Brokers (Pvt) Ltd. |
Chairman |
Deposits |
|
500 |
487 |
| Lanka Industrial Estates Ltd. |
Chairman |
Deposits |
|
12,872 |
5,365 |
| National Asset Management Ltd. |
Director |
Deposits |
|
366 |
361 |
| (d) Mr. D.S. Weerakkody |
| Chartered Institute of Management Accountants |
Former |
Management Accountants |
|
Council
|
|
| (e) Deshamanya Ken Balendra (Resigned w.e.f. April 23, 2008) |
| Brandix Lanka Ltd. |
Chairman |
Loans & Advances (US$) |
9,800 |
4,798 |
4,856 |
| |
|
Deposits (US$) |
|
|
604 |
| Brandix Intimate Apparels Ltd. |
Director |
Loans & Advances (US$) |
300 |
– |
– |
|
|
Off Balance Sheet Accommodations (SEK) |
|
|
370 |
| |
|
Deposits |
|
|
4,457 |
| Brandix Casual Wear Ltd. |
Director |
Loans & Advances (US$) |
650 |
561 |
563 |
|
|
Off Balance Sheet Accommodations (US$) |
|
|
1,500 |
| |
|
Deposits |
|
|
14,110 |
| Brandix Apparels Ltd. |
Director |
Deposits |
|
405 |
310 |
| |
|
Deposits (US$) |
|
20 |
20 |
| Phoenix Ventures Ltd. |
Director |
Loans & Advances |
200,000 |
25,000 |
– |
| |
|
Deposits |
|
271 |
216 |
| Chevron Lubricants Lanka PLC |
Director |
Loans & Advances |
150,000 |
– |
– |
| |
|
Off Balance Sheet Accommodations |
100,000 |
– |
– |
| |
|
Deposits (US$) |
|
160 |
309 |
(f) Mr. R.M.S. Fernando (Appointed w.e.f. December 19, 2008) |
| Orient Financial Services Corporation Ltd. |
Chairman |
Loans & Advances |
1,460,797 |
413,793 |
652,762 |
| |
|
Deposits |
|
156 |
– |
| United Motors Lanka PLC |
Chairman |
Loans & Advances |
256,265 |
132,749 |
270,746 |
|
|
Off Balance Sheet Accommodations |
45,000 |
61,132 |
55,604 |
| |
|
Deposits |
|
19 |
1,048 |
| Unimo Enterprises (Pvt) Ltd. |
Director |
Loans & Advances |
125,000 |
68,142 |
139,040 |
|
|
Off Balance Sheet Accommodations |
150,000 |
94,865 |
78,042 |
| |
|
Deposits |
|
47 |
– |
| Orient Motor Company Ltd. |
Director |
Loans & Advances |
15,000 |
7,559 |
17,302 |
| UML Property Developments Ltd. |
Director |
Deposits |
|
442 |
393 |
| Piramal Glass Ceylon PLC |
Director |
Loans & Advances |
200,000 |
149,309 |
732 |
|
|
Off Balance Sheet Accommodations |
110,000 |
54,691 |
10,151 |
| |
|
Deposits |
|
139 |
– |
| Kelani Tyres PLC |
Director |
Loans & Advances |
6,000 |
4,683 |
5,497 |
| Alucop Cables Ltd. |
Director |
Loans & Advances |
658,560 |
568,840 |
499,364 |
|
|
Off Balance Sheet Accommodations |
400,000 |
219,518 |
150,924 |
| |
|
Deposits |
|
964 |
792 |
| Sierra Cables PLC |
Director |
Deposits |
|
3,323 |
113 |
| |
|
|
|
|
|
* Comparative figures for 2007 are disclosed only if there are outstandings as at December 31, 2008. |
