Bendigo and Adelaide bank (BEN) announced an 80.7% rise in net profit (NPAT) for FY13 to $352.3m
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Bendigo and Adelaide bank (BEN) announced an 80.7% rise in net profit (NPAT) for FY13 to $352.3m. The rise in NPAT was significant due to one-off writedowns in FY12. Cash earnings (which strips out one-offs & is considered a more accurate representation of performance) rose by 7.7% to $348m - in line with consensus. Net interest margins (measure of profit BEN makes on loans) rose by 10bps on FY12 to 2.21%; a positive trend for margin expansion. Retail deposits rose by 3.9% to $42.2bn over the year to June. BEN announced a $0.31/s fully franked final dividend, to be paid to eligible shareholders on 30 Sept. Visit: (VIEW LINK)
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CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...
Expertise
No areas of expertise