Bendigo’s NPAT rises 3.4%

Company News

by Mary Saliba

Bendigo and Adelaide Bank (ASX:BEN), has reported its statutory profit rose 3.4 percent to $429.6 million for the 12 months ending 30 June 2017.

The retail bank’s underlying cash earnings increased 4.2 per cent on the prior financial year to $418.3 million.

The institution declared a full year dividend of $0.68 cents fully franked and a final year dividend of $0.34 cents fully franked.

Despite cash rate reductions putting pressure on the group’s net interest profit, its ‘front book mortgage pricing’ held the business in good stead.

Shares in Bendigo and Adelaide Bank (ASX:BEN) are trading 3.02 per cent higher to $11.60.