Directors' Interest in Contracts with the Company
Related party disclosures as required by the Sri Lanka Accounting Standard No. 30 on 'Related Party Disclosures’ (Revised 2005), is detailed in Note 40 to the Financial Statements of this Annual Report
In addition, the Bank carries out transactions in the ordinary course of business in 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, as detailed below:
| Company | Relationship | Accommodation Granted/Deposits |
Current Limit | Balance Outstanding | |||
As at Rs. ’000 |
As at Rs. ’000 |
As at Rs. ’000 |
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| (a) Mr. D.S. Weerakkody | |||||||
| Cornucopia Lanka Ltd. | Director | Deposits | 150 | 150 | |||
| (b) Prof. U.P. Liyanage | |||||||
| Diesel & Motor Engineering Company PLC | Director | Loans & Advances | 1,371,820 | 1,053,894 | 1,147,700 | ||
| Off-Balance Sheet Accommodations | 2,200,000 | 1,711,025 | 1,837,767 | ||||
| Deposits | – | – | 433,300 | ||||
| Chemanex PLC | Director | Loans & Advances | 80,000 | 8,368 | – | ||
| Off-Balance Sheet Accommodations | 43,000 | 20,516 | 12,107 | ||||
| Deposits | – | 225 | 1,060 | ||||
| Ceylon Cold Stores PLC | Director | Loans & Advances | 150,000 | 178 | 76,003 | ||
| Off-Balance Sheet Accommodations | 100,958 | – | – | ||||
| Talawakelle Tea Estates PLC | Director | Loans & Advances | 232,110 | 59,215 | 9,358 | ||
| Off-Balance Sheet Accommodations | – | 314 | 1,520 | ||||
| (c) Mr. M.P. Jayawardena (Appointed to the Board w.e.f. 28.12.2011) | |||||||
| The Finance Company PLC | Chairman | Loans & Advances | 169,500 | 35,950 | – | ||
| Deposits | – | 988 | – | ||||
| CIC Holdings PLC | Director | Loans & Advances | 450,000 | 133,405 | – | ||
| Off-Balance Sheet Accommodations | 250,000 | – | – | ||||
| Deposits | – | 11,931 | – | ||||
| CIC Vetcare (Pvt) Ltd. | Director | Loans & Advances | 60,000 | 47,805 | – | ||
| Off-Balance Sheet Accommodations | 100,000 | 40,058 | – | ||||
| Deposits | – | 1,881 | – | ||||
| CIC Poultry Farms | Director | Loans & Advances | 153,281 | 62,352 | – | ||
| Off-Balance Sheet Accommodations | 94,000 | 73,239 | – | ||||
| Deposits | – | 4,470 | – | ||||
| Cal Exports Lanka (Pvt) Ltd. | Director | Loans & Advances | 40,410 | 795 | – | ||
| Off-Balance Sheet Accommodations | 68,400 | 6,516 | – | ||||
| Deposits | – | 53,518 | – | ||||
| Yasui Lanka (Pvt) Ltd. | Director | Loans & Advances | 36,594 | 34,314 | – | ||
| Off-Balance Sheet Accommodations | 45,600 | – | – | ||||
| Deposits | – | 51,564 | – | ||||
| Chemanex Exports (Pvt) Ltd. | Director | Loans & Advances | 13,800 | 132 | – | ||
| Off-Balance Sheet Accommodations | 29,000 | 12,160 | – | ||||
| Deposits | – | 58,864 | – | ||||
| Chemcel (Pvt) Ltd. | Director | Off-Balance Sheet Accommodations | 11,088 | 11,088 | – | ||
| Deposits | – | 165 | – | ||||
| Chemanex PLC | Director | Loans & Advances | 80,000 | 8,368 | – | ||
| Off-Balance Sheet Accommodations | 43,000 | 20,516 | – | ||||
| Deposits | – | 225 | – | ||||
| (d) Mr. M.J.C. Amarasuriya (Resigned from the Board w.e.f. 30.12.2011 ) | |||||||
| Serendib Flour Mills (Pvt) Ltd. | Chairman | Loans & Advances | 1,550,000 | 831,840 | 1,123,704 | ||
| Off-Balance Sheet Accommodations | 5,270,000 | 1,356,236 | 385,713 | ||||
| Deposits | – | – | 436,495 | ||||
| (e) Mr. B.R.L. Fernando (Relinquished the services upon his resignation from the Board w.e.f. 31.12.2011 ) | |||||||
| CIC Holdings PLC | Director | Loans & Advances | 450,000 | 133,405 | – | ||
| Off-Balance Sheet Accommodations | 250,000 | – | – | ||||
| Deposits | – | 11,931 | 13,677 | ||||
| Chemanex PLC | Director | Loans & Advances | 80,000 | 8,368 | – | ||
| Off-Balance Sheet Accommodations | 43,000 | 20,516 | 12,107 | ||||
| Deposits | – | 225 | 1,060 | ||||
| CIC Agri Business (Pvt) Ltd. | Director | Loans & Advances | 1,000,000 | 999,000 | 550,510 | ||
| Off-Balance Sheet Accommodations | 325,000 | 276,205 | 4,586 | ||||
| Deposits | – | 43,941 | 78,548 | ||||
| CIC Feeds (Pvt) Ltd. | Director | Loans & Advances | 461,100 | 129,102 | 199,734 | ||
| Off-Balance Sheet Accommodations | 405,000 | 114,288 | 218,981 | ||||
| Deposits | – | 535 | 147 | ||||
| CIC North & East Agri. Dev. (Pvt) Ltd. | Director | Loans & Advances | 2,000 | – | – | ||
| Deposits | – | 1,864 | 760 | ||||
| Ceylon Tea Brokers PLC | Director | Loans & Advances | # 100,000 | 110,793 | 37,823 | ||
| Deposits | 5,770 | 2,806 | |||||
| Akzo Nobel Paints Lanka (Pvt) Ltd. | Director | Deposits | – | 9,181 | 9,666 | ||
| CIC Agri Produce Export (Pvt) Ltd. | Director | Deposits | – | 3,597 | 1,443 | ||
| CIC Agri Produce Marketing (Pvt) Ltd. | Director | Deposits | – | 6,457 | 1,496 | ||
| Crop Management Services (Pvt) Ltd. | Director | Deposits | – | 2,672 | 4,547 | ||
| Link Natural Products (Pvt) Ltd. | Director | Deposits | – | 2,023 | 1,231 | ||
| First Guardian Equities (Pvt) Ltd. | Director | Deposits | – | – | 2,906 | ||
| Sunhill Tea Factory (Pvt) Ltd. | Director | Deposits | – | 867 | 2,165 | ||
| (f) Mr. R.M.S. Fernando (Ceased to be a Director w.e.f. 30.03.2011) | |||||||
| United Motors Lanka PLC | Chairman | Loans & Advances | 200,000 | 25,167 | – | ||
| Off-Balance Sheet Accommodations | 1,750,000 | 1,707,092 | 62,462 | ||||
| Deposits | – | 248 | 15,152 | ||||
| Seguwantivu Wind Power (Pvt) Ltd. | Chairman | Loans & Advances | 540,000 | 504,793 | 500,000 | ||
| Off-Balance Sheet Accommodations | 110,000 | 108,243 | 50,581 | ||||
| Deposits | – | – | 97,504 | ||||
| Vidatamunai Wind Power (Pvt) Ltd. | Chairman | Off-Balance Sheet Accommodations | 54,760 | 54,752 | 1,814 | ||
| Unimo Enterprises (Pvt) Ltd. | Chairman | Loans & Advances | 25,000 | – | 159,696 | ||
| Off-Balance Sheet Accommodations | 150,000 | 50,426 | 412,843 | ||||
| Deposits | – | – | 2 | ||||
| Orient Motor Company Ltd. | Chairman | Loans & Advances | 15,000 | – | – | ||
| Deposits | – | 1,238 | 6,151 | ||||
| Piramal Glass Ceylon PLC | Director | Loans & Advances | 361,000 | 50,198 | 251,344 | ||
| Off-Balance Sheet Accommodations | 200,000 | 164,193 | 18,938 | ||||
| Deposits | – | 31,598 | 87,234 | ||||
| Sierra Cables PLC | Director | Loans & Advances | 1,073,980 | 701,888 | 583,015 | ||
| Off-Balance Sheet Accommodations | 890,000 | 519,112 | 475,770 | ||||
| Deposits | – | – | 6,675 | ||||
| TVS Lanka (Pvt) Ltd. | Director | Loans & Advances | 110,000 | 108,917 | – | ||
| Off-Balance Sheet Accommodations | 190,000 | 189,595 | – | ||||
| UML Property Developments Ltd. | Director | Deposits | – | 12 | – | ||
| # Since Regularised * Comparative figures for 2010 are disclosed only if outstandings are available as at 31.12.2011. |
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