Bendigo & Adelaide Bank Grows Profits and Deposits

Bendigo & Adelaide Bank Ltd. (AU:BEN) has released an update.

Bendigo and Adelaide Bank Limited reported a 9.7% increase in statutory net profit after tax to $545.0 million, despite a slight decline in cash earnings. The bank has focused on long-term sustainable growth, cutting credit expenses by 71%, and growing customer deposits by 3.4%, with digital channels bolstering its deposit franchise. Moreover, the bank’s lending has seen a healthy increase, particularly in the agribusiness sector, and it continues to invest in digital transformation and operational efficiency to enhance customer experience and shareholder returns.

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