BankVic Annual Report 2019

Directors’ Report
Interests in the shares of the Company and related bodies corporate:
POLICE FINANCIAL SERVICES LIMITED $1 WITHDRAWABLE SHARES
Mr M Liu 10
Mr S Coulson 10
Mr A White 10
Ms M Luttick 10
Ms L Nolan 10
Ms D Robertson 10
Ms F Page 10
Directors’ meetings
During the financial year, 10 meetings of Directors, 5 Corporate Governance Committee, 4 Audit Committee, 1 Remuneration
and Transformation Committee, 1 Remuneration, People and Culture Committee, 4 Risk Committee, and 2 Digital Transformation
and Cyber Committee meetings were held. The number of meetings attended by each director was as follows: A = Meetings held
during members’ tenure B = Meetings attended
Director
Board
meetings
Risk
Committee
meetings
Audit
Committee
meetings
Corporate
Governance
Committee
meetings
Rem and
Transformation
Committee
meetings
Remuneration,
People and
Culture
Committee
Digital
Transformation
and Cyber
Committee
A B A B A B A B A B A B A B
Mr M Liu # 7 7 3 3 3 3 - - - - - - - -
Mr D Boell* 3 3 1 1 - - 2 2 - - - - - -
Mr S Coulson 10 10 - - 4 4 - - 1 1 - - 2 2
Mr W Taylor* 3 2 1 1 - - - - 1 1 - - - -
Mr A White 10 10 1 1 1 - 3 3 - - 1 1 - -
Ms M Luttick 10 10 1 1 - - - - 1 1 1 1 2 2
Ms L Nolan 10 10 1 1 3 3 5 5 - - - - - -
Ms D Robertson 10 10 3 3 1 1 5 5 - - - - - -
Ms F Page # 7 7 3 3 - - - - - - 1 1 2 2
#
Mr M Liu and Mrs F Page were Directors from 23 November 2018
* Mr D Boell and Mr W Taylor ceased as Directors from 23 November 2018
Principal activities
During the year there were no significant changes to the
principal activities of the Company, these being the provision
of deposit taking facilities, credit facilities and related
financial services.
Results of operations
Profit after tax of the Company for the financial year was
$11.3 million (2018: $12.6 million).
Review of operations
Growth
Over the past 12 months assets increased by 13.0%.
Deposits increased by 16.0% reflecting continued member
support. Loan demand continued in a historically low
interest rate environment with gross loans increasing
by 15.7%.
During the year membership grew 2.3% reflecting
continuing interest for the products and services
offered by BankVic and the success of
new member campaigns.
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