Bendigo and Adelaide Bank (ASX:BEN) gains 2.6 mil customers in FY21

Company News

by Lauren Evans

Bendigo and Adelaide Bank (ASX:BEN) reports a statutory net profit of $524 million for the period ending 30 Jun 2021 (FY21), up 172 per cent from the prior year.

Cash earnings after tax reached $457.2 million, up 51.5 per cent from the prior year, following the company's lending growth, trust ratings and bolstered balance sheet.

Australians selecting Bendigo and Adelaide Bank as their bank continued to increase 9.6 per cent from the prior year to 2.6 million customers.

Customer deposits grew 14.2 per cent from the prior year and total lending grew 10.6 per cent. The bank also recorded a total fully franked dividend of 50 cents per share.

CEO Marnie Baker commented: “Our transformation strategy and investment in digital alongside our deep human connection and approach - as well as our high trust and customer experience rankings - have all combined to help us expand our market share and our agility when responding to the ever-changing needs of our customers.”

Shares in Bendigo and Adelaide Bank (ASX:BEN) are trading 8.8 per cent lower at $10.12.  

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