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Bendigo result shows consistent growth

Bendigo result shows consistent growth

(15 August 2005 – Australia) Bendigo Bank has posted a full year result of A$87.4 million, a 19.4 percent increase on the previous year’s result. Bendigo managing director Rob Hunt said it was the fifth year running the regional bank had grown its profit by around 20 percent or more.

He said the bank had quadrupled its branch network to more than 300 during its first decade, and had built product capability in areas such as wealth solutions, business banking and e-banking from the ground up.

"We have achieved a lot in that time to position and raise awareness of the Bendigo brand, as well as equipping our business to fully service the consumer and business sectors," Hunt said.

"A million customers have been attracted to our brand and this in turn is creating new opportunities for us. We will be devoting more time and resources to strengthen those existing customer relationships, while continuing to roll out new branches and initiatives to capture more of the demand for our brand," he said.

Hunt said the full year result demonstrated that Bendigo’s style of banking continued to deliver steady improvement in shareholder returns.

"We have created a brand that is trusted, is relevant to customers and seeks to add value for communities beyond just the banking function.

"As a result, the Bendigo brand is highly regarded across Australia and we continue to broaden our distribution network and product range to create opportunities for customers to engage with us," Hunt said.
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