Bendigo and Adelaide Bank Limited
(ASX:BEN) has entered into a non-binding heads of agreement to acquire a loan book worth about $290 million, from financial services company Southern Finance Group.
The bank says the deal will see its reach expand to western Victoria and south east South Australia where Southern Finance operates.
Bendigo says it expects to finalise the agreement following due diligence.
In the 2012 financial year, Bendigo and Adelaide bank generated a net profit of $195 million.
