Board Subcommittee Reports
Board Credit Committee Report
‘Significant attention was given frameworks were updated and fit for purpose, driving improvement of asset quality and adequacy of provisions.’
Charter of the Committee
The Board Credit Committee assists the Board of Directors in effectively fulfilling its responsibilities relating to the Credit Direction, Credit Policy and Lending Guidelines of the Bank in order to inculcate healthy lending standards and practices and ensure that relevant regulations are complied with.
The Committee is empowered to:
- Review and consider changes proposed from time to time to the Credit Policy and the Lending Guidelines of the Bank.
- Analyse and review the credit risk control measures in the lending areas, the pricing of lending proposals and ensure that credit proposals are within relevant regulatory frameworks.
- Evaluate, assess and make recommendations on credit propositions which will be submitted to the Board
of Directors. - Evaluate and recommend sector exposures and cross boarder exposures.
- Monitor and evaluate special reports called for by the Board of Directors.
- Set lending directions based on the current economic climate and risk appetite of the Bank.
Composition
Board Credit Committee (the BCC) consists of following members whose profiles are given on pages 11 to 13:
Mr. K.G.D.D. Dheerasinghe* (Chairman)
Mr. J. Durairatnam
(Managing Director/CEO)
Mr. S Renganathan
(Director/Chief Operating Officer)
Prof. A.K.W. Jayawardane* (Director)
*Independent Non-Executive Director
Secretary: Mr. R.A.P. Rajapaksha
(Assistant Company Secretary)
Meetings
| Name | Eligible to attend | Attended | |
| Mr. K.G.D.D. Dheerasinghe | 12 | 12 | |
| Mr. J. Durairatnam | 12 | 9 | |
| Mr. S. Renganathan | 12 | 9 | |
| Prof. A.K.W. Jayawardane | 12 | 12 |
Proceedings of the Committee meetings were regularly reported to the Board of Directors.
Activities in 2016
The Committee approved credit proposals above a predetermined limit, scrutinised and/or recommended credit proposals and other credit reports intended for approval/perusal by the Board of Directors. These tasks were carried out by the Committee in line with the Bank’s lending policies and credit risk appetite to ensure that the lending portfolios were managed in line with the stipulated credit risk parameters set by the Board of Directors.
K.G.D.D. Dheerasinghe
Chairman – Board Credit Committee
Colombo
February 22, 2017