Bendigo Weekly 1107

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BendigoWeekly www.bendigoweekly.com.au

ISSUE 1107 FRIDAY, FEBRUARY 8, 2019

Colourful blessing for dragon Our latest Chinese imperial dragon Dai Gum Loong was this week officially blessed in a spectacular display of colour and tradition in Hong Kong – Story page 14

BANK RATES By STEVE KENDALL

AS the dust settles on the Banking Royal Commission report released this week, Bendigo and Adelaide Bank managing director Marnie Baker says it’s business as usual. Australia’s only regionally-based bank came out of the royal commission relatively unscathed, with Australia’s big four drawing most fire. ANZ, NAB, Westpac and the Commonwealth practices were given close scrutiny, with key reforms

■ New

Bendigo spared commission’s fury

planned to improve outcomes for Australian consumers “Bendigo and Adelaide Bank welcomes commissioner Hayne’s considered and extensive report,” Ms Baker said. “For Bendigo and Adelaide Bank, it’s business as usual as we continue to focus on the success of our customers and our vision to be Austra-

lia’s bank of choice.” Ms Baker said the bank is continuing to review the report in detail to assess its impacts, findings and recommendations. “We are pleased to note however that Bendigo and Adelaide Bank has been referenced in a positive light, particularly in relation to our remuneration practices and the way we

plan for road trauma – Page 3

partner with communities and mortgage managers. “Naturally, we will work with government and regulatory bodies to implement the government endorsed recommendations, and to ensure there are no unintended consequences. “A strong, competitive and fair banking system is essential for all

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Australians and a robust Australian economy. We feel there is more to be done to promote fair and equal competition for Australian consumers.” Key reforms following the royal commission include putting in place a one-stop shop for consumer complaints, the Australian Financial Complaints Authority; a regulated Banking Executive Accountability Regime; and, new powers and resources for the ACCC to investigate competition issues in the setting of interest rates. Continued Page 2

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