Interest rates and drought won’t impact EPS growth Bendigo says
(31 October 2006 – Australia) Bendigo Bank said it was on track to hit its cash earnings per share growth target of ten per cent for 2006/07.
Speaking at the bank’s annual general meeting, managing director Rob Hunt described the first quarter of 2007 as "satisfactory" and said net new customers grew by 24,000 over the quarter.
He said the bank would use television advertising to maintain momentum and launch its Basic Black credit card offering.
"There is also a focus right across our business on deepening the relationships we have with our customers, and we are seeing encouraging signs that customers are responding to us contacting them with relevant product offers," Hunt said.
"While we are watchful of the impact of interest rates and the ramifications of drought, with strong demand, a diversified revenue base and strong customer support, we are confident of achieving our guidance of an improvement of ten per cent in cash EPS."
He said the bank would use television advertising to maintain momentum and launch its Basic Black credit card offering.
"There is also a focus right across our business on deepening the relationships we have with our customers, and we are seeing encouraging signs that customers are responding to us contacting them with relevant product offers," Hunt said.
"While we are watchful of the impact of interest rates and the ramifications of drought, with strong demand, a diversified revenue base and strong customer support, we are confident of achieving our guidance of an improvement of ten per cent in cash EPS."
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