Bendigo Bank managing director Rob Hunt has assured customers and shareholders the bank is in a good position to ride out the worldwide credit crisis.
Mr Hunt told a media briefing the bank was one of the best placed in Australia to deal with the crunch.
“We are used to managing this way. We are used to saying we have more demand than we have resources to deal with,” he said.
“In a way we are in a fortunate position to have many, many more opportunities than we have resources.”
Although the bank has revised some of its earnings predictions, Mr Hunt said the bank’s large focus on retail trade could see it avoid the worst of the effects.
“The Bendigo is in a strong position because of its connections with its customers and their conditions,” he said.
“We need a steady hand, a clear mind and how we deal with it is very, very important.
“We will come through this in a very strong position.”
Mr Hunt said the key to managing it well rested with experience.
“We have seen all this before,” he said.
“This was a longer cycle of good times.
“The most important thing you can do is to inject certainties.
“We are in a good economy. We also have pretty much full employment and the banking system is in a very good position to be able to handle (the current situation).”