The Board Investment Committee (the BIC) consists of the following members whose profiles are given in the section on Board of Directors and Profiles.
Board membersMr K G D D Dheerasinghe*
Mr S Renganathan
(Managing Director/Chief Executive Officer )
Mr S C U Manatunge
(Director/Chief Operating Officer)
Mr K Dharmasiri*
Ms N T M S Cooray*
(Appointed w.e.f. March 28, 2019)
Mr G S Jadeja
(Resigned w.e.f. March 28, 2019)
Regular attendees by invitationMr K D N Buddhipala
(Chief Financial Officer)
Mr K A P Perera
(Deputy General Manager – Treasury)
Ms T A Bernard
(Assistant General Manager – Corporate and Investment Banking)
Mr S K K Hettihamu
(Chief Risk Officer)
Secretary to the CommitteeMr A Wijesiriwardane
(Assistant General Manager-Treasury)
*Independent Non-Executive Director
Attendance at Meetings
|Name||Eligible to attend/ Attended|
|Mr K G D D Dheerasinghe||12/12|
|Mr S Renganathan||12/12|
|Mr S C U Manatunge||12/11|
|Mr K Dharmasiri||12/12|
|Ms N T M S Cooray||09/08|
|Mr G S Jadeja||03/03|
The Committee assisted the Board in developing the strategy relating to investment of foreign currency, investments in subsidiaries and associate companies and other strategic investments.
The BIC oversees the Bank’s investment activities which fall within its responsibilities. The Committee provides guidance by evaluating the relevance and feasibility of various investment proposals in equity, debt and subsidiary operations. Further, the Committee evaluates the Bank’s overall liquidity management operations and the borrowing activities in accordance with the charter of the Committee.
Within this framework the Committee performs the following duties:
The Committee meets monthly and reviews progress of strategic and significant investments, liquidity situation of the Bank, market developments and country’s economic outlook. The Committee also reviews the monthly performance of Treasury and Investment Banking Division, where the interest rate risk, repricing risk and other market risks are discussed.
The Committee also from time to time would issue instructions to executive officers of the Bank on investment related activities.
The Committee held twelve (12) meetings during the year under review. The proceedings of the Committee meetings which also included activities under its Terms of Reference were regularly reported to the Board of Directors.
K G D D Dheerasinghe
Board Investment Committee
February 20, 2020