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 64 to the Financial Statements on page 313 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 | |||||||
| 31.12.2016 | 31.12.2016 | 31.12.2015 | ||||||||
| Rs. ’000 | Rs. ’000 | Rs. ’000 | ||||||||
| (a) | Mr. M.P. Jayawardena | |||||||||
| Cal Exports Lanka (Pvt) Ltd. | Loans & Advances | 9,734 | – | – | ||||||
| Off-Balance Sheet Accommodations | 89,850 | 2,246 | – | |||||||
| Deposits | – | 68,525 | 11,187 | |||||||
| Chemanex Exports (Pvt) Ltd. | Loans & Advances | 10,000 | – | – | ||||||
| Off-Balance Sheet Accommodations | 29,000 | 6,828 | 5,000 | |||||||
| Deposits | – | 19,327 | 777 | |||||||
| CIC Holdings PLC | Loans & Advances |
|
Combined | 831,390 | 831,804 | 640,601 | ||||
| Off-Balance Sheet Accommodations | Limits | 900,000 | 303,124 | 82,505 | ||||||
| Deposits | – | 16,584 | 11,541 | |||||||
| CIC Vetcare (Pvt) Ltd. | Loans & Advances | 100,000 | 102,107 | 46,159 | ||||||
| Off-Balance Sheet Accommodations | 152,000 | 51,903 | 30,268 | |||||||
| Deposits | – | 465 | 217 | |||||||
| CIC Poultry Farms Ltd. | Loans & Advances | 759,264 | 734,945 | 820,019 | ||||||
| Off-Balance Sheet Accommodations | 50,000 | 3,304 | 7,202 | |||||||
| Deposits | – | 25 | 524 | |||||||
| EAP Films & Theatres (Pvt) Ltd. | Loans & Advances | 212,500 | 140,214 | – | ||||||
| Off-Balance Sheet Accommodations | – | 800 | – | |||||||
| Deposits | – | 1,154 | 1,065 | |||||||
| (b) | Prof. A.K.W. Jayawardane | |||||||||
| Sierra Cables PLC | Loans & Advances |
|
Combined | 1,170,000 | 950,702 | 824,039 | ||||
| Off-Balance Sheet Accommodations | Limits | 650,000 | 811,597 | 312,988 | ||||||
| Deposits | – | 48,135 | 18,754 | |||||||
| (c) | Mr. J. Durairatnam | |||||||||
|
Lanka Financial Services Bureau Ltd. |
Deposits | – | 10,533 | – | ||||||
| (d) | Ms. N.T.M.S. Cooray | (Appointed to the Board w.e.f. September 19, 2016) | ||||||||
| The Solutions Group (Pvt) Ltd. | Loans & Advances | 10,800 | – | N/A | ||||||
| Off-Balance Sheet Accommodations | – | 1,759 | N/A | |||||||
| Deposits | – | 27,798 | N/A | |||||||
| Ceylon Tea Brokers PLC | Loans & Advances | 200,000 | 189,617 | N/A | ||||||
| Deposits | – | 1,786 | N/A | |||||||
| Jetwing Hotels Ltd. | Loans & Advances | 50,390 | 14,154 | N/A | ||||||
| Deposits | – | 1,581 | N/A | |||||||
| Negombo Hotels Ltd. | Loans & Advances | 50,000 | 49,553 | N/A | ||||||
| Deposits | – | 2,067 | N/A | |||||||
| The Lighthouse Hotel PLC | Loans & Advances | 124,790 | 129,487 | N/A | ||||||
| Deposits | – | 1,996 | N/A | |||||||
| Jetwing Travels (Pvt) Ltd. | Loans & Advances | 65,090 | 23,334 | N/A | ||||||
| Off-Balance Sheet Accommodations | 50,640 | 31,100 | N/A | |||||||
| Deposits | – | 893,499 | N/A | |||||||
| Jetwing Air (Pvt) Ltd. | Loans & Advances | 20,000 | – | N/A | ||||||
| Off-Balance Sheet Accommodations | 38,193 | 38,193 | N/A | |||||||
| Deposits | – | 52,824 | N/A | |||||||
|
Jetwing Hotel Management Services (Pvt) Ltd. |
Loans & Advances | 2,000 | – | N/A | ||||||
| Deposits | – | 130 | N/A | |||||||
| Jetwing Real Estate (Pvt) Ltd. | Loans & Advances | 189,580 | 169,253 | N/A | ||||||
| Jetwing Events (Pvt) Ltd. | Off-Balance Sheet Accommodations | 1,511 | 1,511 | N/A | ||||||
| Deposits | – | 18,304 | N/A | |||||||
| Go Vacation Lanka Co. (Pvt) Ltd. | Off-Balance Sheet Accommodations | 8,090 | 600 | N/A | ||||||
| Deposits | – | 4,697 | N/A | |||||||
| N.J. Cooray Builders (Pvt) Ltd. | Deposits | – | 498 | N/A | ||||||
| Yarl Hotels (Pvt) Ltd. | Deposits | – | 1,809 | N/A | ||||||
| Capital Alliance Holdings Ltd. | Deposits | – | 100 | N/A | ||||||
| (e) | Mr. L.D. Niyangoda | (Appointed to the Board w.e.f. August 26, 2016) | ||||||||
| A Baur & Company (Pvt) Ltd. | Loans & Advances |
|
Combined | 2,264,519 | 5,806,404 | N/A | ||||
| Off-Balance Sheet Accommodations | Limits | 4,390,000 | 957,824 | N/A | ||||||
| Deposits | – | 16,470 | N/A | |||||||
| Baur Life Science (Pvt) Ltd. | Loans & Advances | – | 257 | N/A | ||||||
| Off-Balance Sheet Accommodations | – | 29,497 | N/A | |||||||
| Deposits | – | 7,829 | N/A | |||||||