BankVic Annual Report 2019
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Notes To and Forming Part of<br />
the Financial Statements (continued)<br />
Note 12: Intangible Assets – Software<br />
<strong>2019</strong><br />
$’000<br />
2018<br />
$’000<br />
At cost 2,263 2,263<br />
Accumulated amortisation (2,263) (2,263)<br />
Net carrying amount - -<br />
Carrying amount at the beginning of the year - 51<br />
Additions - -<br />
Disposals - (44)<br />
Amortisation expense - (7)<br />
Carrying amount at the end of the year - -<br />
Note 13: Deposits<br />
Call deposits 1,309,945 1,233,448<br />
Term and at notice deposits 539,314 361,299<br />
Redeemable preference shares 1,002 988<br />
Effective Interest Rate ranges for deposits is 0.0% - 4.5%<br />
1,850,261 1,595,735<br />
a. Maturity Analysis<br />
Deposits are repayable over the following terms:<br />
On call 1,309,945 1,233,448<br />
Up to 3 months 235,427 184,184<br />
From 3 months to 6 months 146,440 78,439<br />
From 6 months to 1 year 108,115 66,059<br />
From 1 year to 5 years 49,332 32,617<br />
No maturity 1,002 988<br />
b. Concentration of Risk<br />
i. As at 30 June <strong>2019</strong> there was no member who individually held deposits which represents<br />
10% or more of total liabilities<br />
ii. The customer or industry concentration of deposits which represented in aggregate 10% or<br />
more of total liabilities are:<br />
1,850,261 1,595,735<br />
Victoria Police 260,742 232,500<br />
Health 141,373 130,699<br />
iii. The geographic concentration of deposits in the State of Victoria 87% 89%<br />
46 | BANKVIC // ANNUAL REPORT <strong>2019</strong>
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