annual general meeting (‘agm’) 26 november 2013
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Annual General Meeting (‘AGM’) 26 November 2013. Agenda Item 1 Chairman’s Welcome and Opening Address. Agenda Item 2 Reports. Highlights of 2012/13. Highlights of 2012/13. Some Key Figures. Comparison 30 June 2005 & 30 June 2013. 2013 AGM. The Year Ahead. 2013 AGM. - PowerPoint PPT PresentationTRANSCRIPT
Annual General Meeting (‘AGM’)
26 November 2013
Agenda Item 1
Chairman’s Welcome and Opening Address
Agenda Item 2
Reports
Changed status from a credit union to a bank
Standard and Poor’s international credit rating
Successful merger
New product
Highlights of 2012/13
New trading name
Reduced operating costs
Reduced fees
Have continued to grow
Highlights of 2012/13
Members 200,000
Employees 600
Assets Under Management $4 Billion
Branches 50
2012 / 13 Pre Tax Profit $32.2 Million
2012 / 13 After Tax Profit $23.2 Million
Some Key Figures
30/06/2005 30/06/2013
Total Income $78.3 million $245.2 million
Total Assets $895 million $3.8 billion
Total Deposits $786 million $3.05 billion
Total Loans $797 million $3.3 billion
Total Reserves $65.2 million $315.2 million
Net profit before tax $9.6 million $32.2 million
Net profit after tax $6.6 million $23.2 million
Capital Adequacy 12.2% 16.3%
Cost/Income 75.73% 70.63%
Comparison 30 June 2005 & 30 June 2013
2013 AGM
The Year Ahead
2013 AGM
Directors’ Report
2013 AGM
2013 Annual General MeetingFinancial Report by Debbie Goodin
Chair Board Audit Committee
Net Profit After Tax of $23.2m, down 17.8%
Group assets under management up 4.7% to $3.8bn
Investment in strategy increases cost to income ratio to 71%
New lending of $640m in a subdued economic environment
$1.6m contributed to our local communities (being 7% of profit)
Loan arrears down to 0.47% and still well below industry averages
2012/13 Performance Overview
2011 2012 2013$0.0m
$5.0m
$10.0m
$15.0m
$20.0m
$25.0m
$30.0mNet Profit after Tax Underlying Profit
Beyond Bank Australia
Beyond Bank Australia
2011 2012 20130.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
18.00%16.14% 16.09% 16.18%
Capital Adequacy
Beyond Bank Australia
2011 2012 2013-$200k
-$100k
$0k
$100k
$200k
$300k
$400k
$500k
$600kBeyond Advice Profit (after tax) Underlying
Beyond Bank Australia
2011 2012 201350.0%
55.0%
60.0%
65.0%
70.0%
75.0%Operating expenses to net operating income
Beyond Bank Australia
2011 2012 2013$2.00bn
$2.20bn
$2.40bn
$2.60bn
$2.80bn
$3.00bn
$3.20bn
$3.40bnLoans Under Management
Beyond Bank Australia
2011 2012 20130.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%Credit Risk - Loan Arrears Ratio*
Being loans in arrears > 30 days as a portion of the total loan portfolio
Beyond Bank Australia
2011 2012 2013$2.00bn
$2.20bn
$2.40bn
$2.60bn
$2.80bn
$3.00bn
$3.20bnDeposits
Beyond Bank Australia
2011 2012 2013 2014f$0.0m
$5.0m
$10.0m
$15.0m
$20.0m
$25.0m
$30.0mProfit expectations
Beyond Bank Australia
• Lower 2013 profitability due to reduced member fees and charges and a significant investment in strategy but 2014 expected to improve
• Prudential standing maintained with strong capital adequacy and liquidity levels
• Credit quality of loan portfolio pristine with arrears levels further reduced
• Ongoing focus on internal controls to minimise fraud losses
• Thanks to management team and staff for an outstanding result
In Summary…
2013 AGM
Retirement of two Directors
Agenda Item 3
Election of Directors
Election of Directors
6 candidates – 3 vacancies
6 candidates – all assessed “fit and
proper”
Computershare Pty Ltd – conduct an
independent ballot
Results of BallotNumber of votes cast for each candidate:
1. Steve Nolis 3,548 (appointed for a 3 year term)
2. Heather Webster 3,519 (appointed for a 3 year term)
3. Geoffrey Knuckey 3,268 (appointed for a 3 year term)
4. Margaret Patrick (Carmody) 2,608
5. Christina Ryan 2,340
6. Geoffrey Parnell 1,315
Information about Proxies Received and Voting Process
2013 AGM
2013 AGM
Details – Proxy Instruments
Agenda Item 4
Appointment of a Director:
Resolution 1
Appointment of a Director
Resolution to be put:
“That Steven Arndt’s appointment as an elected Director of Beyond Bank Australia from the end of the 2013 AGM until the end of the 2015 AGM be
ratified.”
Agenda Item 5
Proposed amendments to the Constitution due to bank designation:
Resolution 2
2013 AGM
Resolution to be put:
“That the Constitution of Beyond Bank Australia be hereby amended as set out in Explanatory Note 3 on the Item of Business section of the
Notice convening the meeting.”
Agenda Item 6
Other proposed amendments to the Constitution:
Resolution 3
2013 AGM
Resolution to be put:
“That the Constitution of Beyond Bank Australia be hereby amended as set out in Explanatory Note 3 on the Item of Business section of the
Notice convening the meeting.”
2013 AGM
Other Business - Opportunity for Members to ask Questions
2013 AGM
Announcement of the voting results
2013 AGM
Close