UNITY BANK LIMITED 2022 Financial Report UNITY BANK LIMITED 2022 Financial Report
ABN 11 087 650 315
ABN 11 087 650 315
Deposits from members The fair value of call and variable rate deposits, and fixed rate deposits repricing within 12 months, is the amount shown in the statement of financial position. Discounted cash flows were used to calculate the fair value of other term deposits, based upon the deposit type and the rate applicable to its related period maturity. The rate applied to give effect to the discount of the cash flows was between 0.50% and 2.75% [2021 – 0.55%]. Short term borrowings The carrying value of payables due to other financial institutions approximate their fair value as they are short term in nature and reprice frequently.
35. FINANCIAL COMMITMENTS
2022 $'000
2021 $'000
(a) Outstanding loan commitments The loans approved but not funded (b) Loan Redraw Facilities The loan redraw facilities available
51,363
21,981
46,959
45,907
(c) Undrawn Loan Facilities Loan facilities available to members for overdrafts are as follows: Total value of facilities approved
40,992 (15,991) 25,001
78,784 (43,388) 35,396
Less: Amount advanced Net Undrawn Value
These commitments are contingent on members maintaining credit standards and ongoing repayment terms on amounts drawn Total Financial Commitment
123,323
103,284
72
65
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