Disclosure in terms of section 7.6 (xvi) of the listing rules of the Colombo Stock Exchange on related party transactions exceeding 10% of the equity or 5% of the total assets of the Bank

The Bank did not carry out any transactions exceeding 10% of the equity or 5% of the total assets of the Bank, whichever is lower, with the related parties given in Note no. 55 to the Financial Statements, except for the transactions engaged with the Government of Sri Lanka and Government related entities.

The Government of Sri Lanka, who holds 100% shareholding in Bank of Ceylon and Government related entities carry out transactions with the Bank, in the ordinary course of business and the aggregate monetary value of these transactions exceeded the threshold given in Section 7.6 (xvi) of the Listing Rules of Colombo Stock Exchange. These transactions include;

1. Overdraft facility granted to the Deputy Secretary to the Treasury.
2. Foreign currency loans granted to the Government of Sri Lanka and State Owned Enterprises.
3. Investment in Sri Lanka Development Bonds and Restructuring Bonds issued by the Government of Sri Lanka.
4. Extending of trade finance credit and other related services to facilitate import transactions of the Government of Sri Lanka and State Owned Enterprises.
5. Deposits made by the Government and Government related entities with the Bank.

Most of these transactions are considered as recurrent nature transactions and the outstanding balances as at Balance Sheet date and the during the year transactions are given in the Note no. 55.4 to the Financial Statements.