Bendigo and Adelaide Bank (BEN) expects credit growth to remain subdued in the year ahead but is confident its business model will continue to resonate with customers, after posting a lift in full-year cash profit.
In the year to June 30, Bendigo and Adelaide Bank posted cash profit of $348 million, a 7.7% increase on the $323 million recorded in the previous year.
Analysts were anticipating $346.3 million full-year cash earnings for the period.
Full-year net profit was $352.3 million, an 80.7% increase on the previous year's $137.1 million.
The lender will pay a final dividend of 31 cents on September 30, to shareholders on the register at August 29.
Combined with the interim dividend of 30 cents, Bendigo and Adelaide Bank will pay a fully-franked total dividend of 61 cents, slightly higher than the 60 cents payment the year prior.