Composition of the Board Credit Committee

Board Credit Committee (BCC) consists of the following Members:

Mr. K.G.D.D. Dheerasinghe
(Appointed Chairman of BCC w.e.f. December 30, 2011)

Mr. M.P. Jayawardena
(appointed w.e.f. December 30, 2011)

Mr. A.L. Gooneratne

Mr. W.M.R.S. Dias

Mr. B.R.L. Fernando who was a member of the Committee until December 31, 2011 relinquished his services upon resignation from the Board of Directors w.e.f. December 31, 2011

Mr. M.J.C. Amarasuriya who was the Chairman of Committee resigned from the Board of Directors of the Company with effect from December 30, 2011.

Mrs. R.R. Dunuwille, the Company Secretary of the Bank, functions as the Secretary of the Committee.

Refer brief profiles of each member of the Committee.

Charter of the Credit Committee

The Board Credit Committee assist the Board of Directors in effectively fulfilling its responsibilities relating to the credit Policy and Lending Guidelines of the Bank in order to ensure that regulations are complied with.

The committee has been empowered to:

1. Review and consider changes proposed from time to time to the credit policy document and the Lending Guidelines of the Bank.
2. Analyse and review the credit risk control measures in the lending area, the pricing of lending proposals and also ensure that credit proposals are within the Central Bank regulations.
3. Evaluate, assess and make recommendations on credit proposals submitted.

Board Credit Committee Meetings

Ten BCC meetings were held during the year under review. Attendance of the Committee members at meetings of BCC is given in the table. Proceedings of the Committee meetings are regularly reported to the Board of Directors.

Methodology Used by the Board Credit Committee

The Committee will meet on a monthly basis and recommend credit proposals above a certain limit and other papers reviewed by them for the approval of the Board of Directors.



K.G.D.D. Dheerasinghe
Chairman - Board Credit Committee

Colombo
February 09, 2012