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Governance and Risk Management

Directors’ Interest in Contracts with the Bank

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Related party disclosures as per the Sri Lanka Accounting Standard – LKAS 24 on “Related Party Disclosures” is disclosed in Note 63 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.

Table - 46:

Director/Company Accommodation granted/Deposits Current limit Balance/outstanding
as at 31.12.2021 as at 31.12.2021 as at 31.12.2020
Rs ‘000 Rs ‘000 Rs ‘000
(a) Prof A K W Jayawardane
Sierra Cables PLC Loans and advances
Combined Limits available
1,540,000 440,883 799,812
Off-balance sheet accommodations 820,000 706,947 1,596,587
Deposits 360,802 83,581
Mother Lanka Foundation Loans and advances 985 985 1,620
Deposits 1,360 2,855
Arthur C Clarke Institute for Modern Technologies Deposits 27 27
(b) Mr S Renganathan
International Chamber of Commerce - Sri Lanka Deposits 9,757 24,526
(c) Ms N T M S Cooray
Ceylon Tea Brokers PLC Deposits 2,491 861
Jetwing Hotels Ltd. Deposits 1,898 542
Negombo Hotels Ltd. Deposits 2,211 1,579
The Lighthouse Hotel PLC Deposits 20,362 13,840
Jetwing Travels (Pvt) Ltd. Loans and advances 41,094 8,433 26,370
Off-balance sheet accommodations 50,000 51,282 19,321
Deposits 1,789,610 1,074,914
Jetwing Air (Pvt) Ltd. Loans and advances 32,500 12,500 25,000
Off-balance sheet accommodations 65,000 35,499 36,906
Deposits 77,622 33,767
Jetwing Hotel Management Services (Pvt) Ltd. Deposits 26 26
Allianz Insurance Lanka Ltd. Deposits 57,540 98,986
Go Vacation Lanka Co. (Pvt) Ltd. Deposits 1,683 1,243
Allianz Life Insurance Lanka Ltd. Deposits 2,524 8,287
Yarl Hotels (Pvt) Ltd. Deposits 3 21
Jetwing Symphony Ltd. Deposits 928 181
Capital Alliance Holdings Ltd. Deposits 1,880 1,880
(d) Mr L D Niyangoda
A Baur & Company (Pvt) Ltd. Loans and advances
Combined Limits available
3,500,000 3,881,216 281,250
Off-balance sheet accommodations 7,135,500 3,532,551 4,589,147
Deposits 3,313,677 2,963,406
(e) Mr T L B Hurulle
Kanrich Finance Ltd. Loans and advances 5,000 209 4,220
Deposits 4,383 11,017
(f) Mr R Senanayake
Senkadagala Finance PLC Loans & Advances 4,608,435 2,062,463 2,454,006
Off-balance sheet accommodations 23,093
Deposits 1,265,478 329,573
Virtual Capital Technologies (Pvt)Ltd. Deposits 22 66
(f) Mr S Muhseen
Amana Takaful Life PLC Deposits 125,925