Governance and Risk Management

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.

Directors’ Interest in Contracts with the Bank

Table – 15

Director/Company Accommodation granted/Deposits Current limit Balance/Outstanding
as at 31.12.2019 Rs ’000 as at 31.12.2019 Rs ’000 as at 31.12.2018 Rs ’000
(a) Mr M P Jayawardena
CIC Holdings PLC Loans and advances Combined 750,000 700,000 750,000
Off-balance sheet accommodation Limits available 250,000 4,462 421,704
Deposits 7,827 8,741
CIC Vetcare (Pvt) Ltd. Loans and advances Combined 100,000 42,993 136,975
Off-balance sheet accommodation Limits available 155,000 67,152 44,954
Deposits 2,532 1,640
CIC Poultry Farms Ltd. Loans and advances Combined 600,000 556,012 584,947
Off-balance sheet accommodation Limits available 100,000
Deposits 24 25
Cal Exports Lanka (Pvt) Ltd. Loans and advances 21,814 10,241 9,748
Off-balance sheet accommodation 109,050 8,942
Deposits 20 7
Rainforest Ecolodge (Pvt) Ltd. Deposits 58 115
(b) Prof A K W Jayawardena
Sierra Cables PLC Loans and advances Combined 1,773,312 704,897 467,088
Off-balance sheet accommodations Limits available 997,922 1,300,728 1,355,594
Deposits 77,847 50,984
Mother Lanka Foundation Deposits 2,247 3,450
(c) Mr S Renganathan
International Chamber of Commerce – Sri Lanka Deposits 28,626 26,238
(d) Ms N T M S Cooray
The Solutions Group (Pvt) Ltd. Deposits 1,813 7,038
Ceylon Tea Brokers PLC Deposits 29,067 3,140
Jetwing Hotels Ltd. Deposits 2,666 2,526
Negombo Hotels Ltd. Deposits 2,248 2,338
The Lighthouse Hotel PLC Deposits 5,841 11,825
Jetwing Travels (Pvt) Ltd. Loans and advances 38,394 11,562 11,303
Off-balance sheet accommodation 46,421 46,421 49,655
Deposits 410,385 1,043,843
Jetwing Air (Pvt) Ltd. Loans and advances 20,000
Off-balance sheet accommodation 36,906 36,906 36,906
Deposits 193,697 87,343
Jetwing Hotel Management Services (Pvt) Ltd. Deposits 126 127
Jetwing Events (Pvt) Ltd. Off-balance sheet accommodation 100
Deposits 17,652
Allianz Insurance Lanka Ltd. Loans and advances 1
Off-balance sheet accommodation 13,002
Deposits 69,392 197,351
Go Vacation Lanka Co. (Pvt) Ltd. Off-balance sheet accommodation 100
Deposits 4,046 11,012
Allianz Life Insurance Ltd. Deposits 1,172 745
Yarl Hotels (Pvt) Ltd. Deposits 438 812
Jetwing Symphony Ltd. Deposits 425 488
Capital Alliance Holdings Ltd. Deposits 1,147 79
(e) Mr L D Niyangoda
A Baur & Company (Pvt) Ltd. Loans and advances Combined 8,745,250 8,570,744 7,587,503
Off-balance sheet accommodation Limits available 5,890,000 3,864,218 2,923,910
Deposits 7,754,799 7,628,927
(f) Mr T L B Hurulle
Kanrich Finance Ltd. Loans and advances 11,565 9,322 9,678
Deposits 3,612 9,247
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