BankVic Annual Report 2019

Events subsequent to balance date
There has not arisen in the interval between the end of
the financial year and the date of this report any item,
transaction or event of a material and unusual nature likely,
in the opinion of the Directors of the Company, to affect
significantly the operations of the Company, the results of
those operations, or the state of affairs of the Company, in
future financial years.
Lead auditor’s independence declaration
The lead auditor’s independence declaration is set out
on page 24 and forms part of the Directors’ report for the
financial year ended 30 June 2019.
Signed this 24th day of September 2019, in accordance with
a resolution of the Board of Directors.
Likely developments
In the coming year, BankVic will continue to launch products
and services to ensure our members’ financial wellbeing and
help them stay ahead at every life stage.
We will continue to build out our digital capability to provide
ongoing improvements to our members’ experience, and
for our staff. This will include the introduction of innovative
consumer payment technologies, a new website and
a marketing automation platform. Open banking and
supporting the Government’s Consumer Data Rights
legislation will be introduced, and we will continue with our
core banking system upgrades.
Marianne Luttick
Chair
Steven Coulson
Deputy Chair
Our dedication to our branches, building products that are
right for our bonds and continuing to build our partnerships
will remain important areas of focus.
Indemnification and insurance
During the year a premium was paid in respect of a
contract insuring Directors and officers of the Company
against liability. The officers of the Company covered by
the insurance contract include the Directors, executive
officers, Secretary and employees. In accordance with
normal commercial practice, disclosure of the total amount
of premium payable under, and the nature of the liabilities
covered by, the insurance contract is prohibited by a
confidentiality clause in the contract. No insurance contract
has been provided for the benefit of the auditors of
the Company.
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