Bendigo and Adelaide Bank Limited (ASX:BEN) has posted a fall in its first half net profit but an increase in its cash earnings.
The regional lender’s net profit fell 67 per cent to $58 million, weighed down by $95.6 million in write-downs on intangible assets.
In the same period cash earnings rose 0.3 per cent to $163 million and revenue dropped 3 per cent to $602 million.
A fully franked interim dividend of 30 cents per share has been declared.
