BankVic Annual Report 2019
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Note 18: Contingent Liabilities and Credit Commitments<br />
i. Binding commitments to extend credit are agreements to lend to a member as long as there<br />
is no violation of any condition established in the contract. Many of the commitments are<br />
expected to expire without being drawn upon.<br />
<strong>2019</strong><br />
$’000<br />
2018<br />
$’000<br />
Approved but undrawn loans 52,061 43,017<br />
Undrawn continuing line of credit commitments 57,603 56,930<br />
Balance available for redraw under redraw facilities of term loans 223,802 205,982<br />
ii. Operating lease commitments:<br />
Expenditure contracted but not provided for:<br />
Not later than one year 1,719 1,682<br />
One year or later and no later than five years 4,533 5,973<br />
iii. Capital expenditure commitments contracted for:<br />
Property, Plant and Equipment purchases due within one year - -<br />
Note 19: Auditors’ Remuneration<br />
Auditors of the Company – KPMG Australia<br />
Audit of financial report 119,570 111,515<br />
Other regulatory audit services 100,765 89,036<br />
Taxation services 23,531 31,382<br />
Consultancy Services 3,900 43,480<br />
Inclusive of GST<br />
<strong>2019</strong><br />
$<br />
2018<br />
$<br />
247,766 275,413<br />
Note 20: Key Management Personnel Disclosures<br />
a. Directors<br />
The names of the persons who were Directors of the Company at any time during the financial year were as follows: W. G.<br />
Taylor (until 23 November 2018), D. R. Boell (until 23 November 2018), M. Luttick, A. J. White, S. J. Coulson, L. J. Nolan, D.L.<br />
Robertson, F Page (from 23 November 2018) and M Liu (from 23 November 2018).<br />
b. Executives<br />
The names of the persons who were Executives of the Company at any time during the financial year were as follows:<br />
A. De Fazio, Chief Executive Officer, R. Boissezon, Chief Sales Officer, S. Wall, Chief Information Officer, M. McLennan, Chief<br />
Risk Officer, A. Carman, Chief Financial Officer, P. Maroulis, Company Secretary, M. Arundel, Chief People and Culture Officer,<br />
D. Boyle, Chief Product and Marketing Officer (from 19 March <strong>2019</strong>), M. Smyth, Chief Lending Officer (from 13 May <strong>2019</strong>),<br />
G. Miller, Chief Technology Officer (until 31 August 2018), H. McGovern, Chief Product and Marketing Officer (until 27<br />
September 2018).<br />
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