BankVic Annual Report 2019
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Note 9: Loans and Advances (continued)<br />
a. Maturity analysis<br />
<strong>2019</strong><br />
$’000<br />
Gross loans<br />
2018<br />
$’000<br />
Gross loans<br />
Up to 3 months 39,213 36,589<br />
From 3 months to 1 year 48,180 43,489<br />
From 1 year to 5 years 264,138 218,691<br />
Later than 5 years 1,317,022 1,143,892<br />
b. Loans by security<br />
1,668,553 1,442,661<br />
Secured by mortgage* 1,614,449 1,387,509<br />
Secured other 25,004 27,815<br />
Unsecured 29,100 27,337<br />
c. Loans by purpose<br />
1,668,553 1,442,661<br />
Residential 1,614,221 1,387,158<br />
Personal 54,104 55,152<br />
Commercial 228 351<br />
*The loan to value of the collateral for loans secured by mortgage as at 30 June <strong>2019</strong> was 47.1% (2018: 47.4%).<br />
Effective Interest Rate ranges for Loans and Advance is 3.1% - 12.95%<br />
1,668,553 1,442,661<br />
d. Concentration of risk<br />
i. As at 30 June <strong>2019</strong> there was no loan to any individual member, which represents 10% or<br />
more of capital.<br />
ii. The customer or industry concentration of loans which represent in aggregate 10% or more<br />
of total loans are set out below:<br />
<strong>2019</strong><br />
$’000<br />
2018<br />
$’000<br />
Victoria Police 601,347 487,562<br />
Health 187,454 159,087<br />
iii. The geographic concentration of loans in the State of Victoria 95.6% 96%<br />
e. Provision for Impairment of Loans and Advances<br />
Balance at beginning of the year 1,037 901<br />
Opening balance adjustment required for AASB 9 3,264 -<br />
Transfer from/(to) profit and loss account (315) 136<br />
Balance at the end of the year 3,986 1,037<br />
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