(4 August 2004 – Australia) Elders Rural Bank has posted a profit of A$21.8 million for the year to June 30, 2004, marking a 15 percent increase from the previous year.The bank, which is a joint venture between Bendigo bank and Futuris, said its gross loans had grown by 27 percent, totalling A$1.86 million by the end of the year.
Elders Bank managing director Bob Jones said the good result could be attributed to the support and acceptance that Elders had received from both the farming community and regional and metropolitan regions.
“The feedback that we get is that Australians recognise the value of the rural community and are prepared to back the organisations which demonstrate commitment to rural Australia,” Jones said.
He said customer understanding that every cent deposited with Elders Rural Bank is reinvested to support primary producers had been integral to the bank’s success.