Audio No more interest rate cuts, says Bendigo Adelaide Bank's Mike Hirst
Peter RyanGreater competition and an uncertain economic outlook is making life more difficult for Australia's banks. This morning, the second tier Bendigo and Adelaide Bank reported a $209 million half year profit, but that was up by just a tenth of 1 per cent. Things are getting tighter for borrowers as well, with chief executive Mike Hirst predicting there will be no more interest rate cuts.
Transcript
Greater competition and an uncertain economic outlook is making life more difficult for Australia's banks.
This morning the second tier Bendigo & Adelaide Bank reported a $209 million half year profit - but that was up by just a tenth of one per cent.
Things are getting tighter for borrowers as well, with chief executive Mike Hirst predicting there will be no more interest rate cuts.
With more I'm joined my the ABC's senior business correspondent Peter Ryan.
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Mike Hirst, chief executive Bendigo and Adelaide Bank
