Board Technology Committee Report

Composition of the Committee

The Committee as at the end of the year comprised of the following members:

- Prof. U.P. Liyanage - Chairman

- Mr. W.M.R.S. Dias - Managing Director/CEO

- Mr. J. Durairatnam - Executive Director/Chief Operating Officer

- Mr. A. R.M. Muttiah - Chief Information Officer

- Mr. L.H. Munasinghe - Deputy General Manager - Marketing

- Mr. M.E.P. Perera - Assistant General Manager - Operations

Please refer profiles of the Board Members.

Charter of the Committee

The Committee was established by the Board of Directors in recognition of the degree of reliance of the Bank on technology, and the growing appreciation of the role of IT Governance.

The Committee has been empowered to:

• Set the overall technology strategy and track progress of the objectives to meet this strategy.
• Review significant technology procurements prior to them being sent to the Board of Directors for approval.
• Analyse emerging technology and its potential use.

Committee Meetings

There were three Committee meetings during the year with attendance of members listed under the Corporate Governance section.

Periodic updates are given to the Board of Directors on the progress of Board Technology Committee objectives.

Methodology Adopted by the Committee

The Committee endeavours to meet every quarter, and review progress of strategic objectives. The Committee also reviews significant items for procurement and recommends them for approval by the Board of Directors.

Prof. U.P. Liyanage
Chairman - Board Technology Committee

Colombo
February 24, 2014