UNITY BANK LIMITED 2022 Financial Report
ABN 11 087 650 315 UNITY BANK LIMITED 2022 Financial Report UNITY BANK LIMITED 2022 Financial Report
ABN 11 087 650 315 ABN 11 087 650 315
24. DEFERRED TAX LIABILITIES 24. DEFERRED TAX LIABILITIES
2022 $'000 2022 $'000 1,399 1,399
2021 $'000 2021 $'000 1,571 1,571
Deferred tax liabilities Deferred tax liabilities
Deferred income tax liability relates to the sale of the shares in Combined Financial Processing to Transaction Solutions shares in 2010 script-for-script swap which created a deferred capital gain on the value of the Transaction solutions shares received. The account also includes the estimated tax liability due to any gains recorded against the FVOCI reserve. Deferred income tax liability relates to the sale of the shares in Combined Financial Processing to Transaction Solutions shares in 2010 script-for-script swap which created a deferred capital gain on the value of the Transaction solutions shares received. The account also includes the estimated tax liability due to any gains recorded against the FVOCI reserve.
Deferred tax liabilities comprise of: Revaluation of shares through OCI Revaluation of land and buildings through OCI Deferred tax liabilities comprise of: Revaluation of shares through OCI Revaluation of land and buildings through OCI Total deferred tax liabilities Total deferred tax liabilities
601 798 601 798 1,399 1,399
628 943 628 943 1,571 1,571
25. LONG TERM BORROWINGS 25. LONG TERM BORROWINGS
Balance at the beginning of the year Balance at the beginning of the year Drawdown from RBA Drawdown from RBA Balance at the end of the year Balance at the end of the year
187,010 187,010 187,010 187,010 - -
30,424 156,586 187,010 156,586 187,010 30,424
On the 4 th of May 2020, the Bank was granted access to the RBA Term Funding Facility for $30.4m. The Bank drew down $156.6m last year and as at 30 June 2022, the carrying amount of the TFF was $187.0m. The TFF is a three-year facility with a fixed interest rate of 0.10%. The funding is collateralised by residential mortgage-backed securities issued by the Bank. TFF will be repaid in full by 1 July 2024, with anticipated repayments of $169.5m during 2023-2024 and $18.1m in July 24. On the 4 th of May 2020, the Bank was granted access to the RBA Term Funding Facility for $30.4m. The Bank drew down $156.6m last year and as at 30 June 2022, the carrying amount of the TFF was $187.0m. The TFF is a three-year facility with a fixed interest rate of 0.10%. The funding is collateralised by residential mortgage-backed securities issued by the Bank. TFF will be repaid in full by 1 July 2024, with anticipated repayments of $169.5m during 2023-2024 and $18.1m in July 24.
26. CAPITAL RESERVE ACCOUNT 26. CAPITAL RESERVE ACCOUNT Balance at the beginning of the year Balance at the beginning of the year
712 712 20 732 20 732
692 692 20 712 20 712
Transfer from retained earnings on share redemptions Transfer from retained earnings on share redemptions Balance at the end of the year Balance at the end of the year
The accounts represent the amount of redeemable preference shares redeemed by the Bank since 1 July 1999. The law requires that the redemption of the shares be made out of profits. Since the value of the shares has been paid to members in accordance with the terms and conditions of the share issue, the account represents the amount of profit appropriated to the account. The accounts represent the amount of redeemable preference shares redeemed by the Bank since 1 July 1999. The law requires that the redemption of the shares be made out of profits. Since the value of the shares has been paid to members in accordance with the terms and conditions of the share issue, the account represents the amount of profit appropriated to the account.
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