APRA imposes licence conditions on Bendigo and Adelaide Bank
Australia's prudential regulator has imposed licence conditions on Bendigo and Adelaide Bank after a Deloitte review found widespread non-financial risk management weaknesses.
BEN.AX
The Australian Prudential Regulation Authority has imposed licence conditions on Bendigo and Adelaide Bank, citing persistent gaps in risk management.
The move follows an independent root cause analysis by Deloitte, which found that non-financial risk management weaknesses were prevalent across the organisation.
The conditions add regulatory pressure on the bank to address the identified shortcomings.
Source: First Squawk