Solid first half result from Bendigo
(12 February 2007 – Australia) Bendigo Bank has posted a first half profit of almost A$60 million after tax and significant items, an increase of 15.2 percent on the same period last year.
The regional bank said cash earnings grew 12.4 percent to A$55.4 million, which it attributed to solid growth, maturity of its expanded branch network and strong margin performance.
Bendigo managing director Rob Hunt said the result was a continuation of consistent and reliable earnings growth.
"The growth in our business and in customer numbers, and the diversity of revenue being produced, is clearly generating value for our shareholders," he said.
Hunt said the market was not getting easier but the bank was writing healthy business volumes at profitable prices.
"This is reflected in a strong margin performance, with a 13 basis point increase during the December half," he said.
Bendigo managing director Rob Hunt said the result was a continuation of consistent and reliable earnings growth.
"The growth in our business and in customer numbers, and the diversity of revenue being produced, is clearly generating value for our shareholders," he said.
Hunt said the market was not getting easier but the bank was writing healthy business volumes at profitable prices.
"This is reflected in a strong margin performance, with a 13 basis point increase during the December half," he said.
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