SMALLER BANKS WANT A FAIR GO

SMALLER BANKS WANT A FAIR GO

FOUR regional banks have launched a joint submission to the federal government’s Financial System Enquiry, calling for a level playing ground.

Bank of Queensland (BOQ), Suncorp Bank, ME Bank and Bendigo and Adelaide Bank have provided recommendations to restore competitive neutrality for the benefit of consumers.

Suncorp CEO John Nesbitt says the minor players aren’t after extra funding, which caused the competitive disparity in the first place.

“Our submission recommends changes to the regulatory settings which have created illogical competitive anomalies,” he says.

BOQ managing director and CEO Stuart Grimshaw says the suggestions aim to provide long-term economic benefits.

The first round of non-confidential submissions will open to the public on April 4. 

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