Bendigo and Adelaide Bank posts $530M full year profit
- Bendigo and Adelaide Bank reported a cash profit of $530.2 million alongside a statutory net profit of $375.1 million for the 2026 financial year.
- Following the financial release, the Bendigo and Adelaide Bank share price traded down to $10.43.
- The institution stated that its ongoing productivity programme, digital transitions, and cost management strategies are driving its operational focus.
Bendigo and Adelaide Bank (ASX:BEN) reported a cash profit of $530.2 million for the full year alongside a statutory net profit of $375.1 million.
The performance reflects a 3% increase in cash earnings compared to the prior corresponding period.
Cash earnings of $273.8 million for the second half were 6.8% higher than the first half, with income growth of 2.6% and expenses down 2.1% on the prior half.
Total operating expenses increased by 4.2% for the year, while expenses were 2.1% lower in the second half.
"Expenses were lower than in the first half, reflecting the benefits from phase one of our productivity programme and fewer days in H2," said Bendigo and Adelaide Bank Managing Director and CEO Richard Fennell.
The board determined to pay a fully franked final dividend of 33 cents per share, while restructuring costs for the second phase of its productivity programme are projected at $29 million pre-tax in 2026.
Following the announcement, the Bendigo and Adelaide Bank share price was down at $10.43.
The lender operates as a regional-focused financial institution providing retail banking, wealth management, and residential lending across Australia.
