REPORTING SEASON: Bendigo & Adelaide Bank (BEN)
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Figure 1: Bendigo & Adelaide Bank 12 month chart
Bendigo & Adelaide Bank’s profit jumps as bad loans fall
Regional lender Bendigo & Adelaide Bank (BEN) has reported an after-tax profit of $227.3 million for the six months ending 31 December 2014. Underlying cash earnings rose almost 11 per cent to $217.9 million.
In the face of a competitive lending environment BEN was able to maintain its Net Interest Margin or NIM, which reflects the difference between the rate a bank borrows and lends funds. This key measure edged higher to 2.24%
During the period there was a significant fall in provisions for bad loans with the measure declining by almost 30%
BEN declared an interim dividend of 33 cents for the six months ended 30 December 2014, an increase of almost 2 cents compared with the previous corresponding period. The dividend will be paid on 31 March 2015, with a record date of 26 February 2015.