Governance and Risk Management
Directors’ Interest in Contracts with the Bank
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 - 32
| Director/Company | Accommodation granted/Deposits | Current limit | Balance/outstanding | ||||
| as at 31.12.2020 | as at 31.12.2020 | as at 31.12.2019 | |||||
| Rs ‘000 | Rs ‘000 | Rs ‘000 | |||||
| (a) | Prof A K W Jayawardane | ||||||
| Sierra Cables PLC | Loans and advances | } | Combined Limits available |
|
|
704,897 | |
| Off-balance sheet accommodations |
|
|
1,300,728 | ||||
| Deposits |
|
77,847 | |||||
| Mother Lanka Foundation | Loans and advances |
|
|
– | |||
| Deposits |
|
2,247 | |||||
| Arthur C Clarke Institute for Modern Technologies | Deposits |
|
– | ||||
| (b) | Mr S Renganathan | ||||||
| International Chamber of Commerce – Sri Lanka | Deposits |
|
28,626 | ||||
| The Employers’ Federation of Ceylon | Deposits |
|
– | ||||
| (c) | Ms N T M S Cooray | ||||||
| Ceylon Tea Brokers PLC | Deposits |
|
29,067 | ||||
| Jetwing Hotels Ltd. | Deposits |
|
2,666 | ||||
| Negombo Hotels Ltd. | Deposits |
|
2,248 | ||||
| The Lighthouse Hotel PLC | Deposits |
|
5,841 | ||||
| Jetwing Travels (Pvt) Ltd. | Loans and advances |
|
|
11,562 | |||
| Off-balance sheet accommodations |
|
|
46,421 | ||||
| Deposits |
|
410,385 | |||||
| Jetwing Air (Pvt) Ltd. | Loans and advances |
|
|
– | |||
| Off-balance sheet accommodations |
|
|
36,906 | ||||
| Deposits |
|
193,697 | |||||
| Jetwing Hotel Management Services (Pvt) Ltd. | Deposits |
|
126 | ||||
| Allianz Insurance Lanka Ltd. | Loans and advances |
|
1 | ||||
| Deposits |
|
69,392 | |||||
| Go Vacation Lanka Co. (Pvt) Ltd. | Deposits |
|
4,046 | ||||
| Allianz Life Insurance Lanka Ltd. | Deposits |
|
1,172 | ||||
| Yarl Hotels (Pvt) Ltd. | Deposits |
|
438 | ||||
| Jetwing Symphony Ltd. | Deposits |
|
425 | ||||
| Capital Alliance Holdings Ltd. | Deposits |
|
1,147 | ||||
| (d) | Mr L D Niyangoda | ||||||
| A Baur & Company (Pvt) Ltd. | Loans and advances | } | Combined Limits available |
|
|
8,570,744 | |
| Off-balance sheet accommodations |
|
|
3,864,218 | ||||
| Deposits |
|
7,754,799 | |||||
| (e) | Mr T L B Hurulle | ||||||
| Kanrich Finance Ltd. | Loans and advances |
|
|
9,322 | |||
| Deposits |
|
3,612 | |||||
| (f) | Mr R Senanayake | ||||||
| Virtual Capital Technologies (Pvt)Ltd. | Deposits |
|
– | ||||