Bendigo and Adelaide Bank Limited (ASX:BEN) has boosted its net profit and cash earnings in the 2014 financial year.
The regional lender improved its net profit by 5.7 per cent to $372 million while its cash earnings gained almost 10 per cent to $382 million.
Managing Director Mike Hirst says a five basis point increase in net interest margin is testament to the bank's value proposition in a highly competitive environment.
Over the second half Bendigo and Adelaide Bank Limited inked a $1.78 billion deal to buy the Victorian government’s Rural Finance Corporation.
A fully-franked final dividend of 33 cents per share has been declared, taking the full year payout to 64 cents.
