Stewardship

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. 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
As at 31.12.2010
Rs. ’000
Balance Outstanding
As at 31.12. 2010
Rs. ’000
Balance Outstanding
As at 31.12.2009
Rs. ’000
(a) Mr. M.J.C. Amarasuriya
Pelwatte Sugar Industries PLC Chairman Loans & Advances 1,233 1,233 6,001
Deposits 3,174 916
Serendib Flour Mills (Pvt) Ltd. Chairman Loans & Advances 2,577,360 1,123,704 188,330
Off-Balance Sheet Accommodations 4,270,000 385,713
Deposits 436,495
(b) Mr. B.R.L. Fernando
Chemical Industries (Colombo) PLC Chairman Loans & Advances 450,000
Off-Balance Sheet Accommodations 250,000 1,024
Deposits 13,677 15,967
Chemanex PLC Chairman Loans & Advances 80,000 13,073
Off-Balance Sheet Accommodations 43,000 12,107 14,065
Deposits 1,060 139
CIC Agri Business (Pvt) Ltd. Chairman Loans & Advances 1,300,510 550,510 716,650
Off-Balance Sheet Accommodations 10,000 4,586 13,473
Deposits 78,548 61,673
CIC Feeds (Pvt) Ltd. Chairman Loans & Advances 479,904 199,734 452,250
Off-Balance Sheet Accommodations 405,000 218,981 93,799
Deposits 147 375
Tea Advisory Services (Pvt) Ltd. Chairman Loans & Advances 2,000
Deposits 760 811
Akzo Nobel Paints Lanka (Pvt) Ltd. Chairman Deposits 9,666 13,294
CIC Agri Produce Export (Pvt) Ltd. Chairman Deposits 1,443 2,186
CIC Agri Produce Marketing (Pvt) Ltd. Chairman Deposits 1,496 418
Crop Management Services (Pvt) Ltd. Chairman Deposits 4,547 3,315
Link Natural Products (Pvt) Ltd. Director Deposits 1,231 5,275
First Guardian Equites (Pvt) Ltd. Director Deposits 2,906
Sunhill Tea Factory (Pvt) Ltd. Director Deposits 2,165
Ceylon Tea Brokers PLC Director Loans & Advances 50,000 37,823
Deposits 2,806
(c) Mr. D.S. Weerakkody
Chartered Institute of
Management Accountants
Council Member Deposits 275 80
Cornucopia Lanka Ltd. Director Deposits 150
DFCC Bank Director Deposits 23,938
(d) Mr. R.M.S. Fernando
Orient Financial Services Corp. Ltd. Chairman Loans & Advances 499,903 219,304 247,200
Deposits 469 339
United Motors Lanka PLC Chairman Loans & Advances 200,000 3,315
Off-Balance Sheet Accommodations 150,000 62,462 22,930
Deposits 15,152 4,166
Seguwantivu Wind Power (Pvt) Ltd. Chairman Loans & Advances 500,000 500,000
Off-Balance Sheet Accommodations 50,581 50,581 758,809
Deposits 97,504 766,327
Vidatamunai Wind Power (Pvt) Ltd. Chairman Deposits 1,814 267,603
Unimo Enterprises (Pvt) Ltd. Chairman Loans & Advances 253,000 159,696 107,317
Off-Balance Sheet Accommodations 548,516 412,843 51,158
Deposits 2 7
Orient Motor Company Ltd. Chairman Loans & Advances 15,000 3,082
Deposits 6,151
Piramal Glass Ceylon PLC Director Loans & Advances 451,000 251,344 287,512
Off-Balance Sheet Accommodations 110,000 18,938 1,850
Deposits 87,234 4,466
Kelani Tyres PLC Director Loans & Advances 110,000 39,046 8,885
Off-Balance Sheet Accommodations 10,000 5,925
Deposits 49
Sierra Cables PLC Director Loans & Advances 585,242 583,015 304,508
Off-Balance Sheet Accommodations 550,000 475,770 242,772
Deposits 6,675 4,715
(e) Prof. U.P. Liyanage (Appointed to the Board on 14.12.2010)
Diesel & Motor Engineering Company PLC Director Loans & Advances 1,160,600 1,147,700
Off Balance Sheet Accommodations 1,927,000 1,837,767
Deposits 433,300
Chemanex PLC Director Loans & Advances 80,000
Off Balance Sheet Accommodations 43,000 12,107
Deposits 1,060
Ceylon Cold Stores Director Loans & Advances 150,000 76,003
Off Balance Sheet Accommodations 50,000
Talawakelle Tea Estates PLC Director Loans & Advances 254,800 9,358
Off Balance Sheet Accommodations 10,000 1,520
Q & E Advertising (Pvt) Ltd. Director Loans & Advances 2,800 1,403
Deposits 3,034

 

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