Bendigo Bank’s $5.2 Billion RACQ Deal Meets AML Turbulence: What It Means for Customers and BEN Shares (Updated 6 December 2025)
Bendigo and Adelaide Bank (ASX: BEN) has just agreed to acquire RACQ Bank’s retail loan and deposit book in a deal that will shift around A$5.2 billion in loans and deposits and more than 90,000 customers. At the same time, the regional lender is grappling with a major anti–money laundering (AML) review, a police probe and fresh job cuts. For RACQ members, the transaction promises better digital banking and a bigger branch network. For investors, it creates a complex mix of earnings upside, regulatory risk and the possibility — but not the guarantee — of double‑digit returns if things go
