Bendigo and Adelaide Bank Limited
(ASX:BEN) has delivered a bumper full year net profit of $352.3 million – up more than 80 per cent on last year’s result.
In the year to June 30, Bendigo and Adelaide Bank posted cash profit of $348 million, a 7.7 per cent increase on year.
The lender expects credit growth to remain subdued in the year ahead but it’s confident its business model will continue to attract support from customers.
Managing director Mike Hirst says competition remains very strong for retail deposits.
The lender will pay a final dividend of 31 cents on September 30, taking the total dividend to 61 cents.
