Sampath Bank Annual Report 2023-24

Directors’ Interest in Contracts with the Bank

Related party disclosures as required by the Sri Lanka Accounting Standard – LKAS 24 (Related Party Disclosures) are detailed in Note 47 to the Financial Statements. In addition, the Bank carries out transactions in the ordinary course of business in an arm’s length basis with entities where the Chairman or Director of the Bank is the Chairman or a Director of such entities as detailed below.

Company	Relationship	Nature of the Transaction	Current Limit	Amount
			Rs 000	2024	2023
			Rs 000	Rs 000	Rs 000
Mr Harsha Amarasekera
Vallibel One PLC	Independent Non Executive Co-Chairman	Deposits		15,511	8,046
		Loans & advances	504,000	1,616	76
		Interest expense		24	23
		Interest income		-	6
		Dividend paid (Gross)		1,025,814	787,139
CIC Agri Businesses (Pvt) Ltd	Independent Non Executive Chairman	Deposits		5,207	6,856
		Loans & advances	2,520,000	717,000	1,060,000
		Indirect facilities	2,520,000	1,248,629	31,260
		Interest income		62,617	151,220
CIC Holdings PLC	Independent Non Executive Chairman	Deposits		439,559	453,642
		Loans & advances	6,000,000	4,374,000	2,532,325
		Indirect facilities	6,000,000	374,929	612,840
		Interest expense		26,238	37,164
		Interest income		341,470	441,164
Link Natural Products (Pvt) Ltd	Non Executive Director	Deposits		294,589	554,286
		Interest expense		19,876	85,196
		Interest income		-	472
Millennium Airlines (Pvt) Ltd	Non Executive Director	Deposits		166	184
Swisstek Aluminium Limited	Independent Non Executive Chairman	Deposits		261,954	8,486
		Loans & advances	1,625,000	935,556	376,904
		Indirect facilities	1,625,000	412,285	356,370
		Interest income		43,790	123,039
Swisstek (Ceylon) PLC	Independent Non Executive Chairman	Deposits		31,225	585
		Loans & advances	250,000	174,729	214,749
		Indirect facilities	250,000	-	-
		Interest expense		10	13
		Interest income		23,288	46,393
Royal Ceramics Lanka PLC	Independent Non Executive Co-Chairman	Deposits		26,249	19,837
		Loans & advances	1,604,000	502,027	1,697
		Indirect facilities	1,604,000	58,733	-
		Interest expense		-	26,897
		Interest income		37,394	-
		Expenses and fees paid		127	-
Expolanka Holdings Ltd	Independent Non Executive Director	Loans & advances	2,000	25	194
Expolanka Holdings Ltd	Independent Non Executive Director	Deposits		315,193	6,580
Colombo Port City Economic Commission	Chairman	Expenses and fees paid		2,903	n/a
Mr Rushanka Silva
Indra Property Development (Pvt) Ltd	Director	Deposits		155	156
Indra Property Development (Pvt) Ltd	Director	Expenses and fees paid		5,075	3,738
Mr Dilip de S Wijeyeratne
Janashakthi Insurance PLC	Independent Non Executive Director	Deposits		45,450	n/a
		Loans & advances	4,650	282	n/a
		Interest expense		1,057	n/a
		Interest income		8	n/a
Singer (Sri Lanka) PLC	Senior Independent Non Executive Director	Deposits		57,807	83,222
		Loans & advances	2,832,000	710,821	1,001,592
		Indirect facilities	2,832,000	1,319,941	409,069
		Interest expense		41	45
		Interest income		78,816	543,783
		Expenses and fees paid		8,488	15,307
Ms Aroshi Nanayakkara
Sri Lanka Institute of Directors	Chairperson	Expenses and fees paid		1,957	1,048
Asian Hotels & Properties PLC	Independent Non Executive Director	Expenses and fees paid		2,348	65
Mr Vajira Kulatilaka
Access Engineering PLC	Independent Non Executive Director	Deposits		1,035	n/a
		Loans & advances	3,100,000	1,500,000	n/a
		Indirect facilities	3,100,000	323,903	n/a
		Interest income		60,444	n/a
Printcare PLC	Independent Non Executive Director	Deposits		6,222	6,003
		Loans & advances	360,000	3,130	250,000
		Indirect facilities	360,000	-	28,516
		Interest expense		91	27
		Interest income		7,135	28,244
LTL Holdings Ltd	Independent Non Executive Director	Deposits		135	148
LTL Holdings Ltd	Independent Non Executive Director	Interest expense		2	3
Hemas Hospitals (Pvt) Ltd	Independent Non Executive Director	Deposits		5,373	4,176
		Loans & advances	250,000	-	-
		Interest income		2,066	-
Mr Vinod Hirdaramani
Ceylon Knit Trend (Pvt) Ltd	Executive Director	Deposits		365,702	5,426
Ceylon Knit Trend (Pvt) Ltd	Executive Director	Interest expense		19,438	6,328
Hirdaramani International Exports (Pvt) Ltd	Executive Director	Deposits		1,684,838	1,150,429
		Interest expense		86,453	127,977
		Interest income		-	9,912
Long Island Clothing Company (Pvt) Ltd	Executive Director	Deposits		10,966	80
		Loans & advances	50,000	-	49,170
		Indirect facilities	100,000	5,288	-
		Interest expense		5	5
		Interest income		3,257	1,528
Rosewood (Pvt) Ltd	Executive Director	Deposits		2,341	2,061
Rosewood (Pvt) Ltd	Executive Director	Dividend paid (Gross)		316,333	237,261
Windforce PLC	Non Independent Non Executive Director	Deposits		5	9
Mr Hiran Cabraal
The Lighthouse Hotel PLC	Independent Non Executive Director	Deposits		362	n/a
		Loans & advances	100,000	-	n/a
		Expenses and fees paid		2,013	n/a
Mr Keith Modder
Digital Mobility Solutions Lanka PLC	Non Executive Director	Expenses and fees paid		20,307	n/a
Mrs Ayodhya Iddawela Perera
Institute of Bankers of Sri Lanka	Director	Deposits		2,531	1,491
		Interest expense		5	8
		Expenses and fees paid		7,728	2,911
National Credit Guarantee Institution	Director	Deposits		500,000	n/a
National Credit Guarantee Institution	Director	Interest expense		2,993	n/a
Lanka Financial Services Bureau Ltd	Director	Expenses and fees paid		11,620	12,004
LankaPay (Pvt) Ltd	Director	Expenses and fees paid		287,639	239,928