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Bendigo Bank delays exit from Nauru as Chinese state-owned bank emerges as replacement

Summary by Ground News
Bendigo Bank announced last year it would quit Nauru by December 2024. It said it wanted to "reduce complexity and simplify its business by focusing on its Australian operations" The announcement stirred anxiety in the Pacific Island country, with businesses, households and government agencies fearing they would soon be starved of essential financial services. A large delegation from the Bank of China visited the country last week to discuss "potential solutions" to the country's banking issues.

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Bendigo Bank delays exit from Nauru as Chinese state-owned bank emerges as replacement

Bendigo has temporarily delayed its plan to pull out of Nauru and close the Pacific Island country's only bank after a Chinese state-owned bank signalled it might be willing to fill the void.

·New Zealand
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RNZ broke the news in New Zealand on Tuesday, March 19, 2024.
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