Australia’s fifth-largest retail bank, Bendigo and Adelaide Bank (ASX:BEN) posted its results for the financial year 2020 (ending 30 June 2020).
- Statutory net profit dropped by 48.8% to A$192.8 million.
- Full-year cash earnings fell by 27.4% to A$301.7 million.
- Net interest margin was down three basis points to 2.33%.
- However, the Group delivered a total income of approximately A$1.61 billion, up 0.9% on pcp.
- The bank deferred a decision on its final dividend.
On 17 August 2020, BEN was trading at A$6.570 down by 6.143% at AEST 12:22 PM.
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