Bendigo and Adelaide Bank Limited
(ASX:BEN) has urged the government to put big bank competition under the microscope as part of its inquiry into the financial system, saying the industry lacks a level playing field.
The regional lender's managing director, Mike Hirst, says in the last few years the bank had been fighting with one hand tied behind its back because a wave of new regulations favours bigger lenders.
Mr Hirst says the fixed costs of complying with new rules designed to make banks safer has hit smaller players harder.
He also reiterated criticism of the Rudd government's guarantee on bank borrowing, for which banks with lower credit ratings had to pay a higher fee.
Bendigo and Adelaide Bank generated a net profit of $352.3 million in fiscal 2013.
