(29 June 2005 – Australia) Bendigo Bank has used a UBS Financial Services Conference to reaffirm its earnings guidance for this year.Bendigo chief executive Rob Hunt said the regional bank, which posted a net profit of A$79.8 billion last year, would grow its net profit by 15 to 18 percent this financial year.
Hunt said he remained comfortable with this guidance.
The bank said this didn’t account for significant items.
Bendigo’s branch network hit 300 last week, half of which are locally owned and operated. The bank said it aimed to open 30 branches a year for the foreseeable future.
In April, the bank bought cashflow financing company Oxford Funding for A$14.3 million.