MyState Limited boss Melos Sulicich has put his resignation on hold to help the banking and wealth management company weather the coronavirus crisis.
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Chief executive and managing director Mr Sulicich had been planning to leave the Tasmanian-based company at the end of June to return to Sydney.
MyState announced on Tuesday he had agreed to stay for at least 18 months.
Chairman Miles Hampton said the board was delighted Mr Sulicich had agreed to stay for longer.
Mr Hampton said the board believed it was important to maintain leadership team continuity given the current uncertainty.
"Melos knows our business very well and his ongoing leadership will ensure we get through this challenging period as a strong bank, focused on our customers and our communities," Mr Hampton said.
It remained unclear at the time of writing how much of the latest interest rate cut MyState Bank and Tasmanian-based competitor Bank of us, would pass on to home loan borrowers.
The Reserve Bank on March 19 announced an emergency cash rate cut of 0.25 percentage points to a record low 0.25 per cent in response to the economic threat of coronavirus.
Both lenders passed on in full the earlier 0.25 percentage point cut which the Reserve Bank announced on March 3.
Meanwhile, MyState Bank has taken steps to reduce the risk of coronavirus spreading, including emphasising its internet and phone banking services.
"We are taking practical precautions in line with the latest guidance from federal and state authorities," the bank said on March 13.
"Our branches in Tasmania and Central Queensland are open for business, and we have put in place some precautionary measures to protect the safety of our people and customers."
It said it had adopted processes to ensure home loan applications were processed as quickly as possible.
The bank urged customers facing hardship because of the virus to contact it about assistance.
It said hardship options were available, including deferral of loan repayments.
Bank of us has been open about potential temporary branch closures because of the virus.
On Friday, it announced it would close its Glenorchy branch from Monday in line with temporary closures by co-tenant the RACT and said it intended to keep its other branches open for as long as it could.
On March 16, it said: "We have implemented a plan in the workplace to help prevent the spread of the virus, including providing access to hand sanitisers, making sure our workplaces are clean and hygienic, restricting interstate and overseas travel and promoting good respiratory hygiene."
"We are also asking for our customers' help to mitigate the spread of the virus by not visiting a store if feeling unwell and, if in store, practicing good hygiene.
Like MyState, it emphasised its other methods of banking and urged customers facing hardship to get in touch.