Bendigo and Adelaide Bank Ltd
BEN: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$81.70 | Drch | Dtlrzjgf |
Bendigo and Adelaide Bank Delivers on Targets, but Margins Will Likely Fall To Protect Market Share
Bendigo and Adelaide Bank reported a solid first-half fiscal 2023, with cash profit of AUD 295 million up 13% on last year. The increase on second-half fiscal 2022, up 23%, highlights the magnitude of the earnings rebound as the bank benefits in a higher cash rate environment. Net interest margin, or NIM, increased 19 basis points to 1.88% over the half, driving profit before bad debts up 29%.