‘Absolutely necessary’ to operate in low interest rate environment during COVID

Suncorp CEO Steve Johnston says while the company has been operating in a low interest rate environment, competition is “kicking up”.

“We have been operating in a low interest rate environment, and that’s been absolutely necessary through the COVID situation,” he told Sky News Australia.

“So, the erosion of net interest margin is not a Suncorp story particularly, it’s an industry-wide story, and competition is kicking up as others have reported in recent times.”

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SkyNewsAust /  🏆 7. in AU

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