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Australian Military Bank's 58th Annual General Meeting

26 October 2017

Australian Military Bank's 58th Annual General Meeting

Over 60 members attended the 58th Australian Military Bank Annual General Meeting at the Four Seasons Hotel on Wednesday, 25th October 2017.

Following what was a defining year in 2015/16 with the conversion to mutual bank status, 2016/17 saw the bank perform strongly both in terms of membership and balance sheet growth. The financial position of Australian Military Bank remains strong, with sound prudential ratios and increased profitability.

Australian Military Bank is extremely proud to continue its track record of above banking system growth with total assets growing to over $1.25 billion, up 10.8% for the year.  Australian Military Bank aspires to be the preferred provider of retail banking products and services to people in Australia’s Defence Community and the strong growth in membership, lending and deposits reflects the value our members receive.

All motions presented at the AGM were passed.  These included:

  • The Financial Report, the Directors’ Report and the Auditors’ Report for the year ended 30 June 2017.
  • Members approved changes to the Bank’s Constitution set out in the Explanatory Notes in the Notice of Meeting to remove the requirement to use an ‘inner envelope’ for enclosing ballot papers and to include an option for receiving ballots online.
  • Members approved that the total Directors remuneration be increased by $8,370 to $426,887.

The ballot for directors was won by Mr. Graham Weber who was re-elected for three years.  Mr Weber was appointed as a Director in August 2008 and Deputy Chair of the Board in 2014. He is a Certified Practicing Accountant and fellow of Fellow of CPA Australia (FCPA), with a Bachelor of Commerce degree, majoring in Accounting. His current role is Chief Finance Officer Air Force.

We’d like to once again thank our members for their ongoing support of Australian Military Bank and look forward to serving you again this financial year.

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