Board Subcommittee Reports
Board Investment Committee Report
“Our investments have mainly been in Government Securities and debt markets with strategy focussed on maintaining liquidity”
Charter of the Committee
The Committee is responsible for the investment related decisions of the Bank. Hence the Committee will oversee investment activities by providing assistance and guidance, evaluate strategic relevance and financial viability of various investment proposals, monitoring, the Bank’s various investment activities,
in accordance with investment policies of the Bank.
Within this framework, the committee performs the following duties.
1. Approve investment proposals, borrowings and execution of agreements.
2. Review existing investment portfolio performance, monitor adherence to investment policies and decisions of the Investment Committee
3. Review and recommend significant investment decisions to be undertaken by the Bank to the Board of Directors
4. Review, amend and approve investment policies and operational parameters relating to investments of the Bank
Methodology Adopted by the Committee
The Committee meets monthly and reviews progress of strategic and significant investments, liquidity situation of the Bank, market developments and the 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.
The Committee also from time to time would issue instructions to executive officers of the Bank on investment related activities.
Composition
Board Investment Committee (the BIC) consists of the 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)
Mr. K. Dharmasiri* (Director)
Mr. G.S. Jadeja (Director)
appointed w.e.f. September 30, 2016
*Independent Non-Executive Director
Mr. H.J. Wilson, ceased to be a member of the BIC from August 2016 subsequent to his resignation from the Board of Directors of the Bank.
Regular Attendees by Invitation:
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. S.K.K. Hettihamu (Chief Risk Officer)
Secretary: Mr. A. Wijesiriwardane
(Head of Global Treasury)
Meetings
| Eligible to attend | Eligible to attend | Attended | |
| Mr. K.G.D.D. Dheerasinghe | 12 | 12 | |
| Mr. J. Durairatnam | 12 | 12 | |
| Mr. S. Renganathan | 12 | 11 | |
| Mr. H.J. Wilson | 8 | 6 | |
| Mr. K. Dharmasiri | 12 | 12 | |
| Mr. G.S. Jadeja | 3 | 2 |
The Committee meets once a month.
Activities in 2016
The Committee reviewed and approved the Debt Issuances by the Bank in 2016 to strengthen the Tier II capital of the Bank raising Rs. 13.1 Bn.
K.G.D.D. Dheerasinghe
Chairman – Board investment Committee
Colombo
February 22, 2017