Stewardship

Board Investment Committee Report

Composition of the Committee

The Committee as at the end of the year comprised of the following members:

Mr. K.G.D.D. Dheerasinghe (Chairman)

Mr. J. Durairatnam (Managing Director/Chief Executive Officer)

Mr. S. Renganathan (Executive Director/Chief Operating Officer)

Mr. H.J. Wilson (Director)

Mr. K.D.N. Buddhipala (Chief Financial Officer)

Mr. K.A.P. Perera (Head of Global Markets)

Mr. A.N.P. Sooriyaarachchi (Assistant General Manager - Corporate and Investment Banking)

Mr. A. Wijesiriwardane (Head of Global Treasury/ Secretary of the Committee)

Mr. S.K.K. Hettihamu (Chief Manager - Risk)

Refer Board of Directors section for profiles of the Board Members.

Charter of the Committee

The Committee oversees the investment activities of the Bank by providing assistance and guidance to the management in accordance with the investment policies of the Bank. In particular the Committee monitors the Bank’s investments in Government Securities, corporate debt and equities, while evaluating the new business proposals in these areas and offering guidance where required.

The Committee is expected to -

  • Have a broad discussion on economic and market environment before arriving at any investment decisions.
  • Evaluate important investment proposals of the Bank, in detail before being submitted to the Board for approval.
  • Discuss the impact of investment decisions on the Statement of Financial Position of the Bank.
  • Review overall performance of the Bank particularly that of Treasury operations.

Committee Meetings

The Committee held ten meetings during the year with attendance of members listed under Corporate Governance.

Methodology Adopted by the Committee

The Committee endeavours to meet monthly and review progress of strategic investments, liquidity situation of the Bank 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.

K.G.D.D. Dheerasinghe

Chairman - Board Investment Committee

Colombo

February 23, 2015