Bendigo & Adelaide Bank lifts profit
Bendigo and Adelaide Bank has lifted annual cash profit by 13.1 per cent in line with analysts’ expectation.
The regional bank’s profit for the 12 months to June 30 rose to $432.4 million from $382.3 million, while its net profit lifted 14 per cent to $423.9 million.
Australia’s fifth largest retail bank said recent regulatory moves requiring major banks to increase their capital buffers would help Bendigo compete with the big four lenders in the home loans market.
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Bendigo’s final dividend, fully franked, of 33 cents per share was flat on the previous corresponding period.
Managing director Mike Hirst said the results reflected the bank’s approach to disciplined margin management and balance sheet growth.
– with AAP
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