REPORTING SEASON: Bendigo and Adalaide bank Limited (BEN)

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Figure 1: Bendigo and Adalaide Limited 12 month chart


BEN profit missed estimates but earnings and margins strong.

·         One of Australia’s largest regional financial providers Bendigo and Adelaide Bank reported its full year 2014 numbers today.

·         The result was solid: BEN saw its retail deposits grow by 6.1% over the year, loans in total up 4.4% and strong new loan growth, even in a very competitive market were up 16%

·         Total expenses increased by 3% over the year due to higher occupancy and staffing costs as expected after the integration of The Rural bank. Bad and doubtful debts were up 17.2%, slightly below what the market had forecast.

·         Net income was helped by commissions from BEN’s Insurance business up 24.3% and wealth solution commissions up 6.0%, while fees decreased over the year by 4.2%

·         BEN announced that it will pay a second half dividend of $0.33 a share and the cash will be paid out on the 30th of September 2014. Taking the total dividend for the financial year to $0.64 a share.


You can see all of CommSec’s reporting season analysis by clicking here.

Juliana Roadley, Market Analyst,