(Australia) – Emerging regional player Bendigo Bank has posted a 30 percent rise in half-year profit to A$25.4 million, but its expenses grew as much as its revenue, disappointing analysts.Income was up 21 percent to A$162 million for the six months to December 31, but costs were up 20 percent to A$130 million.
Bendigo has embarked on an ambitious program of expansion, partly through its own branches and partly through joint venture “community banks.”