Bendigo chief slams move on cards.

Australasian Business Intelligence, April, 2007

Byline: Marc Moncrief

Apr 26, 2007 (The Age - ABIX via COMTEX) -- The Bank of Queensland (BoQ) will outsource its credit card operations to Citibank to make an extra $A26m. However, the move has been sharply criticised by Robert Johanson, the chairman of BoQ merger target Bendigo Bank. He said it is evidence BoQ does not have the same philosophy of building customer relationships, since Citibank would handle matters such as debt collection. BoQ has defended the change, saying it will improve the product range available to customers both in Australia and overseas. Meanwhile, as the merger appears less likely, shares in both banks fell about four per cent on 26 April 2007.

Publication Date: 27 April 2007

BENDIGO BANK LIMITED - ASX BEN...

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