BankVic Annual Report 2019

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