Bendigo and Adelaide Bank cash earnings rise 6.4%

Company News

by Anna Napoli

Bendigo and Adelaide Bank (ASX:BEN) has reported its statutory net profit after tax (NPAT) increased by about 1.1 per cent on FY17 to $434.5 million for the 2018 financial year.

In more good news for the company, its income from operations strengthened over the 2018 financial year, and lifted almost 2.1 per cent on FY17 to $1.6 billion.

The bank’s cash earnings increased 6.4 per cent on the prior year, to $445.1 million.

The company announced a rise of 2.36 per cent in its Net Interest Margin compared to the prior corresponding period.

A final fully franked dividend of 35 cents will be paid on the 28th of September.

The company says the net interest margin increased mainly due to repricing activity both in the lending and deposit portfolio.

Shares in Bendigo and Adelaide Bank (ASX:BEN) are trading 0.70 per cent lower to $11.35.

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