The Case Study - Seylan Bank

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208Seylan Bank PLC Annual Report 2009Notes to the Consolidated Financial Statements43. Other Related Party TransactionsThe Bank had the following financial dealings during the year 2009 with companies which are considered,related parties and unless otherwise stated, transactions were carried out in the ordinary course of businesson an arm’s-length basis at commercial rates with the companies mentioned below. The parties given beloware considered related parties mainly due to significant influence arising as a result of common directorshipsand through shareholdings. These companies, names of the directors and the nature of transactions enteredinto are listed below:Party/PartiesAccommodatedName of Director/Key ManagementPersonnelRelationshipDeposit Aggregate Amount of Accommodationoutstanding as at 31.12.2009Rs. Mn.Nature ofAccommodationLimitRs. Mn.FundedRs. Mn.Non-FundedRs. Mn.Interest inSuspenseProvisionfor the YearRs. Mn.Bad &DoubtfulDebtProvisionfor the YearRs. Mn.(a) Direct Subsidiaries of the BankSeylan Development PLC Rear Admiral (Rtd.)B.A.J.G. PeirisChairman Demand Deposit 3.509 Overdraft 66.000 64.802 8.998Term Loan 165.000 162.3973.509 Guarantee 10.245231.000 227.199 10.245 8.998Mr. R. NadarajahDirectorMr. A. MadurapperumaDirectorMr. S. PalihawadanaDirectorPrimary Mortgage Bondfor Rs. 17.6 Mn.units 3 and 4.Additional MortgageBond - Rs. 9.4 Mn.Market Value -Rs. 42.6 Mn. ForcedSale Value Rs. 36 Mn.Seylan Towers,Primary MortgageBond for Rs. 21 Mn.Unit 8 - Market Value -Rs. 25 Mn., Forced SaleValue - Rs. 24 Mn.Mortgage Bond forRs. 187 Mn. obtainedover Units 27, 30 and 33depicted in PlanNo. 59/2004Forced Sale Value -Rs. 275 Mn.Market Value Rs. 300 Mn.Seylan Bank AssetManagement LimitedMr. E. NarangodaChairman Demand Deposit 6.0666.066Mr. R. NadarajahDirectorMr. A. PasqualDirectorMr. A. MadurapperumaDirectorMr. S. PalihawadanaDirectorReverse Repo 459.4 Mn.
Seylan Bank PLC Annual Report 2009 209Notes to the Consolidated Financial StatementsServices Obtained/Other TransactionsNature of ServiceAmount Payable/ReceivableAmountPaid/ReceivedRs. Mn.Rs. Mn.ExpensesBank Charges 0.143Rent 92.217Management Fees 4.000Work Order Jobs 0.768Interest Expenses 0.02997.157Interest Income 40.829 10.48340.829 10.483Rent Deposit Rs. 81 Mn.Interest Paid 82.739Interest Payable 0.2270.227 82.739Reverse Repo Income 13.415Branch Commission 0.521Over Draft Interest Income 0.00113.937
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The Case Study > Seylan Bank PLC An
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Copyright © 2009 Seylan Bank PLCSt
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9{ Chapter 1 }Growth and ItsChallen
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Growth and Its Challenges11Rapid, P
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Growth and Its Challenges13“Despi
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Growth and Its Challenges15The comp
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18The Case Study > Seylan Bank PLC
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25{ Chapter 3 }Swift andDecisive Ac
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Swift and Decisive Action27The sign
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29“WE HAVE HONOURED EACHAND EVERY
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3110847965. Rear Admiral (Rtd.) B.A
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35{ Chapter 4 }Reassuringthe Public
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Reassuring the Public37A Multi-Fron
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Reassuring the Public39the word tha
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49{ Chapter 6 }A Sound FutureStrate
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A Sound Future Strategy51StructureL
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The Case Study - Seylan Bank

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