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Bendigo Bank reviewing options

27 March 2007 |Media centre

The Bendigo Bank board of directors and their advisers have met to give initial consideration to the conditional proposal from Bank of Queensland for a merger with Bendigo Bank.

Bendigo Bank is focussed on ensuring that any course of action is in the best interests of its shareholders. Bendigo Bank and its advisers are investigating all options available to Bendigo Bank.

At the same time, Bendigo Bank will engage with Bank of Queensland to further understand the Bank of Queensland proposal and to assess whether it is in the best interests of Bendigo Bank shareholders. Bendigo Bank’s unique business model is based on the strong support it receives from its shareholders, staff, customers, alliance partners, communities and other stakeholders, and the Board will seek to ensure that any course of action preserves and enhances the value of that model.

The Board has begun a process of engagement with stakeholders, including shareholders, customers and communities, to understand their issues and perspectives.

The Board will keep shareholders informed of material developments as it considers the Bank of Queensland proposal and other options for Bendigo Bank.

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