Directors' Interest in Contracts with the Bank
Related party disclosures as per the Sri Lanka Accounting Standard - LKRS 24 on 'Related Party Disclosures' is disclosed in Note 62 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 | |||
31.12.2015 | 31.12.2015 | 31.12.2014 | ||||
Rs '000 | Rs '000 | Rs'000 | ||||
(a) | Mr M.P. Jayawardena | |||||
Cal Exports Lanka (Pvt) Ltd. | Loans & Advances | 9,370 | - | 235 | ||
Off-Balance Sheet Accommodations | 86,490 | - | 5,374 | |||
Deposits | - | 11,187 | 9,022 | |||
Yasui Lanka (Pvt) Ltd. | Loans & Advances | 2,883 | - | - | ||
Off-Balance Sheet Accommodations | 14,415 | - | 4,365 | |||
Deposits | - | 49 | 926 | |||
Chemanex Exports (Pvt) Ltd. | Loans & Advances | 10,000 | - | - | ||
Off-Balance Sheet Accommodations | 29,000 | 5,000 | 8,206 | |||
Deposits | - | 777 | 4,044 | |||
CIC Holdings PLC | Loans & Advances | Combined | 907,890 | 640,601 | 682,450 | |
Off-Balance Sheet Accommodations | Limits | 900,000 | 82,505 | 161,408 | ||
Deposits | - | 11,541 | 1,901 | |||
CIC Vetcare (Pvt) Ltd. | Loans & Advances | 100,000 | 46,159 | 78,650 | ||
Off-Balance Sheet Accommodations | 152,000 | 30,268 | 27,825 | |||
Deposits | - | 217 | 50 | |||
CIC Poultry Farms Ltd. | Loans & Advances | 841,145 | 820,019 | 972,658 | ||
Off-Balance Sheet Accommodations | 50,000 | 7,202 | 35,072 | |||
Deposits | - | 524 | 24 | |||
EAP Films & Theatres (Pvt) Ltd. | Deposits | - | 1,065 | 11,490 | ||
EAP Broadcasting Co. Ltd. | Deposits | - | - | 126,727 | ||
(b) | Prof. A.K.W. Jayawardane | (Appointed to the Board w.e.f. April 21,2015) | ||||
Sierra Cables PLC | Loans & Advances | Combined | 1,174,000 | 824,039 | N/A | |
Off-Balance Sheet Accommodations | Limits | 650,000 | 312,988 | N/A | ||
Deposits | - | 18,754 | N/A |