Bendigo and Adelaide Bank to acquire retail lending and deposit business of Royal Automobile Club Of Queensland.

Bendigo and Adelaide Bank, a commercial banking firm, agreed to acquire retail lending and deposit business of Royal Automobile Club Of Queensland, an insurance company. Financial terms are not disclosed. “RACQ Bank's strong member focus complements Bendigo Bank's longstanding purpose to feed into the prosperity of its customers and the community. We look forward to RACQ Bank members joining our Bank and enjoying the same personalised service and quality products as our 2.9m customers," Richard Fennell, Bendigo Bank CEO and Managing Director.