Commercial Bank of Ceylon PLC

Annual Report 2018

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:

Table – 14
Director/Company Accommodation granted/Deposits Current limit Balance/Outstanding
as at 31.12.2018
Rs ’000
as at 31.12.2018
Rs ’000
as at 31.12.2017
Rs ’000
(a) Mr M P Jayawardena
CIC Holdings PLC Loans and advances Combined 750,000 750,000 6,640
Off-balance sheet accommodation Limits available 1,559,250 421,704 356,919
Deposits 8,741 33,991
CIC Vetcare (Pvt) Ltd. Loans and advances Combined 100,000 136,975 161,218
Off-balance sheet accommodation Limits available 152,000 44,954 13,005
Deposits 1,640 444
CIC Poultry Farms Ltd. Loans and advances Combined 600,000 584,947 355,146
Off-balance sheet accommodation Limits available 100,000 100
Deposits 25 25
Cal Exports Lanka (Pvt) Ltd. Loans and advances 21,895 9,748 557
Off-balance sheet accommodation 109,800
Deposits 7 1,961
Rainforest Ecolodge (Pvt) Ltd. Deposits 115 9
(b) Prof A K W Jayawardena
Sierra Cables PLC Loans and advances Combined 1,070,933 467,088 588,169
Off-balance sheet accommodations Limits available 1,169,299 1,355,594 1,215,861
Deposits 50,984 22,915
Mother Lanka Foundation Deposits 3,450 N/A
(c) Mr S Renganathan
International Chamber of Commerce – Sri Lanka Deposits 26,238 24,166
(d) Ms N T M S Cooray
The Solutions Group (Pvt) Ltd. Off-balance sheet accommodation 600
Deposits 7,038 2,658
Ceylon Tea Brokers PLC Loans and advances 145,417
Deposits 3,140 6,880
Jetwing Hotels Ltd. Deposits 2,526 1,819
Negombo Hotels Ltd. Deposits 2,338 2,187
The Lighthouse Hotel PLC Deposits 11,825 7,168
Jetwing Travels (Pvt) Ltd. Loans and advances 43,822 11,303 17,824
Off-balance sheet accommodation 59,537 49,655 37,413
Deposits 1,043,843 1,061,490
Jetwing Air (Pvt) Ltd. Loans and advances 20,000
Off-balance sheet accommodation 36,906 36,906 30,608
Deposits 87,343 34,918
Jetwing Hotel Management Services (Pvt) Ltd. Deposits 127 127
Jetwing Real Estate (Pvt) Ltd. Loans and advances 120,970 100,512 141,304
Jetwing Events (Pvt) Ltd. Off-balance sheet accommodation 100 100 100
Deposits 17,652 19,786
Go Vacation Lanka Co. (Pvt) Ltd. Off-balance sheet accommodation 600 100 100
Deposits 11,012 7,548
N J Cooray Builders (Pvt) Ltd. Deposits 389 1,319
Yarl Hotels (Pvt) Ltd. Deposits 812 118
Jetwing Symphony Ltd. Deposits 488 1,105
Capital Alliance Holdings Ltd. Deposits 79 97
(e) Mr L D Niyangoda
A Baur & Company (Pvt) Ltd. Loans and advances Combined 8,499,000 7,587,503 5,748,724
Off-balance sheet accommodation Limits available 5,890,000 2,923,910 3,532,959
Deposits 7,628,927 5,870,859
(f) Mr T L B Hurulle
Kanrich Finance Ltd Loans and advances 15,405 9,678 16,781
Deposits 9,247 11,489
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