DIRECTORS’ INTEREST IN CONTRACTS
Related party disclosures as required by the the Sri Lanka Accounting Standard - LKAS 24 - "Related Party Disclosures" are detailed in Note 61
to the Financial Statements.
In addition, the transactions that have been carried out in the ordinary course of business in 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, are detailed below:
Company
Relationship
Nature of
Transactions
Limit
'000
Balance/ Amount
outstanding as at
31.12.2023
'000
Balance/ Amount
outstanding as at
31.12.2022
'000
Mr Ronald C Perera (appointed as the Chairman of Bank of Ceylon w.e.f. 20 January 2023)
Sri Lanka Insurance Corporation Limited
Chairman
Current accounts
11,414
-
Savings accounts
49
-
Time Deposits
6,295,823
-
Overdrafts
10,000
-
-
Hotels Colombo (1963) Limited
Chairman
Current accounts
1,568
3,105
Time Deposits
96,474
87,918
Overdrafts
41,000
41,521
36,989
Loans
231,883
227,308
Other receivables
164,699
87,290
Property Development Limited
Chairman
Current accounts
35,001
9,863
Time Deposits
3,945,360
3,235,160
Securities sold under
repurchase agreements
62,400
167,953
Bank of Ceylon (UK) Limited
Chairman
Current accounts
19,378
14,186
Savings accounts
42
48
Nostro accounts
USD 1,725
USD 783
558,689*
284,331*
GBP 846
GBP 826
349,273*
361,250*
EURO 1,719
EURO 1,316
616,790*
509,039*
Placements
USD 6,000
USD 8,000
1,943,540*
2,904,880*
GBP 10,700
GBP 52,000
4,414,964 *
22,742,086*
Mr R M Priyantha Rathnayake (appointed as a Director of Bank of Ceylon w.e.f. 28 April 2020)
Securities and Exchange Commission of
Sri Lanka
Ex-officio Director Current accounts
27,678
82,492
Time Deposits
654
645
Overdrafts
4
-
Colombo Lotus Tower Management Company
(Private) Limited
Non-Executive
Director
Current accounts
92,708
-
Time Deposits
156,222
-
* LKR equivalent amount
Note : Currencies not specifically mentioned are in LKR