Directors' Interest in Contracts with the Bank
Related party disclosures as per Sri Lanka Accounting Standard - LKRS 24 on ‘Related Party Disclosures’ is disclosed in Note 60 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.
The results of such transactions at the Reporting date is given below:
| Director/Company | Accommodation Granted/Deposits |
Current Limit |
Balance/Outstanding |
||
|
31.12.2014 |
31.12.2014 |
31.12.2013 |
|||
|
Rs '000 |
Rs '000 |
Rs'000 |
|||
| (a) | Prof. U.P. Liyanage | ||||
| Diesel & Motor Engineering Company PLC | Loans & Advances |
4,877,567 |
1,857,251 |
1,674,652 |
|
| Off-Balance Sheet Accommodations |
1,291,687 |
1,547,380 |
|||
| Deposits |
130,036 |
72,668 |
|||
| Chemanex PLC | Loans & Advances |
310,000 |
67,287 |
298,587 |
|
| Off-Balance Sheet Accommodations |
105,000 |
8,384 |
10,298 |
||
| Deposits |
38 |
17 |
|||
| Ceylon Cold Stores PLC | Loans & Advances |
10,000 |
|||
| Deposits |
2,076 |
115 |
|||
| Talawakelle Tea Estates PLC | Loans & Advances |
165,000 |
27,000 |
8,180 |
|
| Off-Balance Sheet Accommodations |
10,000 |
||||
| Deposits |
11,430 |
3,476 |
|||
| RPC Polymers (Pvt) Ltd. | Deposits |
3,797 |
4,499 |
||
| Arpitech (Pvt) Ltd. | Deposits |
1,733 |
5,766 |
||
| Singer (Sri Lanka) PLC | Loans & Advances |
2,324,623 |
874,623 |
1,640,253 |
|
| Off-Balance Sheet Accommodations |
620,087 |
397,976 |
722,066 |
||
| Deposits |
70,144 |
20,890 |
|||
| (b) | Mr. L. Hulugalle | ||||
| Waters Edge Hotel PLC | Loans & Advances |
200,000 |
140,970 |
193,750 |
|
| Deposits |
240,298 |
68,501 |
|||
| Satnet (Pvt) Ltd. | Deposits |
52,370 |
394,072 |
||
| (c) | Mr. K.M.M. Siriwardana* | ||||
| Hotel Developers (Lanka) PLC | Deposits |
61 |
418 |
||
| (d) | Mr. M.P. Jayawardena | ||||
| Cal Exports Lanka (Pvt) Ltd. | Loans & Advances |
8,590 |
235 |
– |
|
| Off-Balance Sheet Accommodations |
79,290 |
5,374 |
12,688 |
||
| Deposits |
9,022 |
7,346 |
|||
| Yasui Lanka (Pvt) Ltd. | Loans & Advances |
2,643 |
– |
4,428 |
|
| Off-Balance Sheet Accommodations |
52,860 |
4,365 |
6,321 |
||
| Deposits |
926 |
5,161 |
|||
| Chemanex Exports (Pvt) Ltd. | Loans & Advances |
10,000 |
– |
– |
|
| Off-Balance Sheet Accommodations |
29,000 |
8,206 |
10,000 |
||
| Deposits |
4,044 |
2,361 |
|||
| CIC Holdings PLC | Loans & Advances |
990,450 |
682,450 |
1,069,574 |
|
| Off-Balance Sheet Accommodations |
250,000 |
161,408 |
53,760 |
||
| Deposits |
1,901 |
3,908 |
|||
| CIC Vetcare (Pvt) Ltd. | Loans & Advances |
100,000 |
78,650 |
80,220 |
|
| Off-Balance Sheet Accommodations |
150,000 |
27,825 |
33,612 |
||
| Deposits |
50 |
93 |
|||
| CIC Poultry Farms Ltd. | Loans & Advances |
1,098,128 |
972,658 |
341,380 |
|
| Off-Balance Sheet Accommodations |
50,000 |
35,072 |
221,295 |
||
| Deposits |
24 |
24 |
|||
| EAP Films & Theatres (Pvt) Ltd. | Deposits |
11,490 |
9,148 |
||
| EAP Broadcasting Co. Ltd. | Deposits |
126,727 |
53,016 |
||
*Mr. K.M.M. Siriwardana, ceased to hold office w.e.f. February 23, 2015.
Comparative figures for 2013 are disclosed only if outstandings are available as at 31.12.2014.