APRA Keeps A$50M Operational Risk Add-On on Bendigo Bank
Australia's prudential regulator will maintain Bendigo Bank's existing A$50 million operational risk capital add-on, saying it is not satisfied the lender has addressed root causes of its risk-management deficiencies.
BEN.AX
APRA said it will keep Bendigo Bank's existing A$50 million operational risk capital add-on until it is satisfied that the bank has effectively addressed the underlying prudential concerns.
The regulator added that it is not satisfied Bendigo Bank has tackled the root causes of its risk-management deficiencies or delivered a sustainable uplift in risk practices.
The requirement remains in place as the lender continues remediation work.
Source: First Squawk