Bank Australia is a mutually owned unlisted public company limited by shares.
We are registered with ASIC and regulated by APRA. Bank Australia holds an Australian financial service licence (AFSL), an Australian credit licence (ACL) and is an authorised deposit-taking institution (ADI).
We are regulated in the same way as all Australian banks and are covered by the Australian Government’s guarantee on deposits. International rating agency Standard & Poor’s gives the bank an investment grade BBB/Stable/A-2 credit rating.
Bank Australia is governed by a Board of Directors. The day-to-day running of the bank is the responsibility of the Managing Director.
Customers elect Directors and have a vote on matters of importance at the bank's Annual General Meeting.
The Board comprises of eight Directors. It's role is to:
- establish corporate objectives in line with the bank's Constitution
- develop, with management, the corporate strategy
- appoint the Managing Director and evaluate their performance
- supervise Bank Australia’s operations and ensure they align with its corporate values
- accept responsibility for compliance with APRA prudential standards, Australian corporations law and other regulations, and
- approve the budget.
The board has a formal renewal program to ensure directors bring an appropriate level of expertise as well as diversity, commercial experience, and fresh perspective. The renewal program recognises the importance of ensuring the history, values and culture of the bank are preserved and built upon.
The Managing Director is charged with the bank’s day to day leadership and management, and is supported by a senior management team.
- Read the Bank Australia Constitution.
- Read the Bank Australia Board Charter.
- Read the Bank Australia Audit Committee Charter.
- Read the Governance and Remuneration Committee Charter.
- Read the Nominations Committee Charter.
- Read the Risk Committee Charter.
- Read the Bank Australia Supplier Code of Practice.
- Read the Bank Australia Envrionmentally Preferred Purchasing statement.