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Independent Assurance Report - Internal Control
Related party disclosures as per the Sri Lanka Accounting Standard – LKAS 24 on “Related Party Disclosures” is disclosed in Note 62 to the Financial Statements on pages 420 to 424 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.
Table – 49
| Director/Company | Relationship | Accommodation granted/Deposits | Current limit | Balance/outstanding | |||||
| as at December 31, 2024 | as at December 31, 2024 | as at December 31, 2023 | |||||||
| Rs. ’000 | Rs. ’000 | Rs. ’000 | |||||||
| (a) | Mr S Muhseen | ||||||||
| Amana Takaful Life PLC | Deputy Chairman | Deposits | – | 15,696 | 7,301 | ||||
| CBC Finance Ltd. | Chairman | Loans and advances | 2,888,447 | 1,343,417 | 2,155,550 | ||||
| Deposits | – | 61,029 | 94,099 | ||||||
| David Pieris Holdings (Pvt) Ltd | Non Executive Director | Loans and advances | 1,030,400 | – | 500,378 | ||||
| Off-balance sheet accommodations | 239,400 | – | – | ||||||
| Deposits | – | 336 | – | ||||||
| Debentures | – | 350,000 | 350,000 | ||||||
| (b) | Mr R Senanayake | ||||||||
| Senkadagala Finance PLC | Chairman | Loans and advances | 8,418,898 | 5,756,347 | 3,699,912 | ||||
| Deposits | – | 677,672 | 1,652,802 | ||||||
| Debentures | – | 6,960 | 6,960 | ||||||
| Virtual Capital Technologies (Pvt) Ltd. | Non Executive Director | Deposits | – | 6 | 11 | ||||
| CBC Tech Solutions Ltd. | Chairman | Loans & Advances | 250 | 35 | – | ||||
| Deposits | – | 245,915 | 193,568 | ||||||
| (c) | Mr S C U Manatunge | ||||||||
| Commercial Development Company PLC | Director | Loans and advances | 29,932 | 29,932 | 60,092 | ||||
| Deposits | – | 162,627 | 263,061 | ||||||
| Commercial Bank of Maldives Private Limited | Deputy Chairman | Off-balance Sheet Accommodations | 586,000 | 586,000 | 680,925 | ||||
| Deposits | – | 1,315,175 | 812,009 | ||||||
| The Employers’ Federation of Ceylon | Vice Chairperson | Deposits | – | 79,409 | 79,409 | ||||
| Debentures | – | 18,009 | 6,820 | ||||||
| (d) | Ms N T M S Cooray | ||||||||
| Ceylon Tea Brokers PLC | Non-Executive Director | Deposits | – | 2,888 | 5,550 | ||||
| Jetwing Hotels Limited | Director | Deposits | – | 100 | 5,787 | ||||
| Negombo Hotels Ltd. | Director | Deposits | – | 6,751 | 3,747 | ||||
| The Lighthouse Hotel PLC | Non Executive Director | Deposits | – | 61,136 | 17,605 | ||||
| Jetwing Travels (Pvt) Ltd. | Chairman/ Managing Director |
Loans and advances | 32,100 | 637 | 340 | ||||
| Off-balance sheet accommodations | 100,000 | 10,862 | 30,384 | ||||||
| Deposits | – | 2,080,853 | 2,817,807 | ||||||
| Jetwing Air (Pvt) Ltd. | Director | Loans and advances | 101,000 | 106 | – | ||||
| Off-balance sheet accommodations | 105,000 | 129,840 | 100,141 | ||||||
| Deposits | – | 323,398 | 351,854 | ||||||
| Jetwing Hotel Management Services (Pvt) Ltd. |
Director | Deposits | – | 25 | 26 | ||||
| Allianz Insurance Lanka Ltd. | Non Executive Director | Deposits | – | 108,975 | 17,337 | ||||
| Go Vacation Lanka Co. (Pvt) Ltd. | Director | Deposits | – | 14,290 | 22,981 | ||||
| Allianz Life Insurance Lanka Ltd. | Non Executive Director | Deposits | – | 7,603 | 465 | ||||
| Yarl Hotels (Pvt) Ltd. | Director | Deposits | – | 853 | 12 | ||||
| Jetwing Symphony PLC | Non Executive Director | Deposits | – | 201 | 1,383 | ||||
| Capital Alliance Holdings Ltd. | Director | Deposits | – | 5,508 | 6,290 | ||||
| Saman Villas Ltd. | Director | Deposits | – | 1,951 | 897 | ||||
| (e) | Ms J Lee | ||||||||
| DBS Bank Ltd. | Director | Off-balance sheet accommodations | 13,185,000 | 2,443,970 | 2,807,600 | ||||
| (f) | Dr S Selliah | ||||||||
| Lanka Tiles PLC | Non Executive Director | Loans and advances | 200,000 | – | – | ||||
| Off-balance sheet accommodations | 400,000 | 111,014 | 85,167 | ||||||
| Deposits | – | 395,421 | 690,130 | ||||||
| ACL Cables PLC | Non Executive Director | Deposits | – | 12,232 | 7,446 | ||||
| Lanka Walltiles PLC | Non Executive Director | Loans and advances | -DP_Edited-web-resources/image/488.png) |
Combined Limits available | 5,461,060 | 5,181,476 | 2,954,904 | ||
| Off-balance sheet accommodations | 1,000,000 | 100,506 | 185,670 | ||||||
| Deposits | – | 11,387 | 31,756 | ||||||
| Cleanco Lanka (Pvt) Ltd. | Chairman | Loans and advances | 250 | 63 | – | ||||
| Off-balance sheet accommodations | 1,121 | 1,121 | – | ||||||
| Deposits | – | 78,253 | 147,115 | ||||||
| Swisstek (Ceylon) PLC | Director | Deposits | – | 11,325 | 11,893 | ||||
| JAT Holdings PLC | Chairman | Loans and advances | |
Combined Limits available | 143,200 | 1,052,219 | 1,084,120 | ||
| Off-balance sheet accommodations | 1,457,999 | 410,184 | 284,666 | ||||||
| Deposits | – | 65,791 | 37,430 | ||||||
| Debentures | – | 24,220 | 24,220 | ||||||
| Contracts | – | 91,000 | – | ||||||
| Arunodhaya (Pvt) Ltd. | Director | Loans and advances | 55,000 | – | – | ||||
| Deposits | – | 70 | 55 | ||||||
| Debentures | – | 4,430 | 4,430 | ||||||
| Arunodhaya Industries (Pvt) Ltd. | Director | Loans and advances | 55,000 | – | – | ||||
| Deposits | – | 53 | 55 | ||||||
| Debentures | – | 4,430 | 4,430 | ||||||
| Andysel (Pvt) Ltd. | Chairman | Loans and advances | 47,000 | – | – | ||||
| Deposits | – | 55 | 55 | ||||||
| Vydexa (Lanka) Power Corporation (Pvt) Ltd. | Chairman | Deposits | – | 1,111 | 1,586 | ||||
| Arunodhaya Investments (Pvt) Ltd. | Director | Loans and advances | 55,000 | – | – | ||||
| Deposits | – | 53 | 55 | ||||||
| Debentures | – | 4,430 | 4,430 | ||||||
| (g) | Mr S Prabagar | ||||||||
| Commercial Bank of Maldives Private Limited | Non Executive Director | Off-balance Sheet Accommodations | 586,000 | 586,000 | 680,925 | ||||
| Deposits | – | 1,315,175 | 812,009 | ||||||
| CBC Myanmar Microfinance Company Limited | Non Executive Director | Off-balance Sheet Accommodations | 586,000 | 586,000 | 324,250 | ||||
| (h) | Mr P Y S Perera | ||||||||
| Hayleys PLC | Non Executive Director | Loans and advances | 9,302,250 | 9,200,327 | – | ||||
| Deposits | – | 453 | – | ||||||
| Haycarb PLC | Non Executive Director | Loans and advances | 1,816,000 | 454,831 | – | ||||
| Off-balance Sheet Accommodations | 77,300 | – | – | ||||||
| Deposits | – | 31,737 | – | ||||||
| Dipped Products PLC | Non Executive Director | Deposits | – | 3,595 | – | ||||
| E. B. Creasy & Co. PLC | Non Executive Director | Loans and advances | |
Combined Limits available | 277,816 | 288,942 | – | ||
| Off-balance Sheet Accommodations | 400,000 | 147,578 | – | ||||||
| Deposits | – | 17,164 | – | ||||||
| Overseas Realty (Ceylon) PLC | Non Executive Director | Loans and advances | 1,500 | 121 | – | ||||
| Deposits | – | 499,984 | – | ||||||