Michael Sanderson is "ecstatic" that the corporate regulator is taking the Bank of Queensland (BoQ) and Bendigo and Adelaide Bank to court for imposing "unfair" contract terms on their small business customers.
Kisimul has lodged new evidence with the NSW Supreme Court that it alleges proves a former employee and Bendigo and Adelaide Bank stole its farmer database and planned to use it to pitch to new borrowers.
Bendigo and Adelaide Bank (BEN) has announced an after-tax statutory profit of $227.3m for the six months ending 31 December, and noted that more customers are paying down their mortgages.
Bendigo Bank subsidiary Rural Bank and three of its senior executives have denied accusations they were complicit in an elaborate fraud allegedly used to steal a database worth as much as $100 million.
BENDIGO and Adelaide Bank will be ordered to appear before a Senate committee to explain its behaviour towards thousands of investors who put $1.8 billion into the failed Great Southern managed investment scheme.
The Victorian government sold Rural Finance Corporation to Bendigo and Adelaide Bank for $1.8 billion in an exclusive privately negotiated deal despite knowing other banks were interested in buying Rural Finance if it was put up for sale.
