Directors' Interest in Contracts with the Company
Related Party Disclosures as per Sri Lanka Accounting Standard - LKAS 24 on ‘Related Party Disclosures’ is detailed in Note 53 to the Financial Statements 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, as detailed below:
| Director/Company | Relationship | Accommodation Granted/Deposits | Current Limit | Balance/ Outstanding |
|||
| As at December 31, | 2013 | 2013 | 2012 | ||||
| Rs. ’000 | Rs. ’000 | Rs. ’000 | |||||
| (a) | D.S. Weerakkody | ||||||
| Galle Face Hotel Company Ltd.* | Loans & Advances | 150,000 | 150,000 | – | |||
| Cornucopia Lanka Ltd. | Chairman | Deposits | 150 | 150 | |||
| Hemas Holdings PLC | Director | Loans & Advances | 649,770 | 458,629 | 56,052 | ||
| Acme Printing & Packaging PLC | Director | Loans & Advances | 13,750 | 2,844 | 6,001 | ||
| Deposits | 304 | 389 | |||||
| International Chamber of Commerce - Sri Lanka | Vice-President | Deposits | 5,866 | 2,910 | |||
| (b) | K.G.D.D. Dheerasinghe | ||||||
| Bartleet Finance PLC | Chairman | Loans & Advances | 120,000 | 45,418 | 76,044 | ||
| Indirect Facilities | 95,500 | 91,065 | 2,500 | ||||
| Deposits | 400,720 | 388,448 | |||||
| (c) | Prof. U.P. Liyanage | ||||||
| Diesel & Motor Engineering Company PLC | Director | Loans & Advances | 3,491,900 | 1,674,652 | 1,272,997 | ||
| Indirect Facilities | 1,547,380 | 711,011 | |||||
| Deposits | 72,668 | 5,214 | |||||
| Chemanex PLC | Director | Loans & Advances | 310,000 | 298,587 | 94,734 | ||
| Indirect Facilities | 105,000 | 10,298 | 20,918 | ||||
| Deposits | 17 | 205 | |||||
| Ceylon Cold Stores PLC | Director | Loans & Advances | 10,000 | – | – | ||
| Indirect Facilities | 100,435 | – | – | ||||
| Deposits | 115 | 651 | |||||
| Talawakelle Tea Estates PLC | Director | Loans & Advances | 165,000 | 8,180 | 7,602 | ||
| Indirect Facilities | 10,000 | – | – | ||||
| Deposits | 3,476 | 116,169 | |||||
| RPC Polymers (Pvt) Ltd. | Director | Deposits | 4,499 | – | |||
| Arpitech (Pvt) Ltd. | Director | Deposits | 5,766 | – | |||
| (d) | M.P. Jayawardena | ||||||
| Cal Exports Lanka (Pvt) Ltd. | Chairman | Loans & Advances | 8,515 | – | 1,952 | ||
| Indirect Facilities | 78,600 | 12,688 | 43,456 | ||||
| Deposits | 7,346 | 2,618 | |||||
| Yasui Lanka (Pvt) Ltd. | Chairman | Loans & Advances | 55,020 | 4,428 | 30,484 | ||
| Indirect Facilities | 6,321 | 7,782 | |||||
| Deposits | 5,161 | 56,987 | |||||
| Chemanex Exports (Pvt) Ltd. | Chairman | Loans & Advances | 10,000 | – | – | ||
| Indirect Facilities | 29,000 | 10,000 | 10,000 | ||||
| Deposits | 2,361 | 2,018 | |||||
| The Finance Company PLC | Chairman | Loans & Advances | 169,500 | 169,312 | 64,424 | ||
| Deposits | 85,698 | – | |||||
| CIC Holdings PLC | Group Director | Loans & Advances | 1,235,000 | 1,069,574 | 700,935 | ||
| Indirect Facilities | 250,000 | 53,760 | 88,061 | ||||
| Deposits | 3,908 | 3,538 | |||||
| CIC Vetcare (Pvt) Ltd. | Director | Loans & Advances | 100,000 | 80,220 | 121,049 | ||
| Indirect Facilities | 150,000 | 33,612 | 53,613 | ||||
| Deposits | 93 | 1,037 | |||||
| CIC Poultry Farms Ltd. | Director | Loans & Advances | 729,727 | 341,380 | 274,518 | ||
| Indirect Facilities | 221,295 | – | |||||
| Deposits | 24 | 24 | |||||
| (e) | L. Hulugalle | ||||||
| Waters Edge Hotel PLC | Director | Loans & Advances | 300,000 | 193,750 | 85 | ||
| Deposits | 68,501 | 110,378 | |||||
*Managed by Galle Face Hotel Management Co. Ltd. in which Mr. D.S. Weerakkody is a Director.
Comparative figures for 2012 are disclosed only if outstandings are available as at December 31, 2013.