InvestSMART

Bendigo and Adelaide Bank Limited (ASX:BEN)

ALERT: Price-sensitive ASX Announcement for BEN
Current share price for BEN : $10.460 -0.03 (-0.29%)+
Announcement
Release
24 Aug 2026 8:17AM
Price at Release
$10.490
Full Release
download
Summary
Bendigo and Adelaide Bank Limited reported a significant improvement in their financial performance for the year ended 30 June 2026, with a net profit after tax of $375.1 million compared to a loss of $97.1 million the previous year. This turnaround was driven by the absence of a one-off goodwill impairment from the previous year, growth in net interest income, and strong performance from the wealth business. Operating costs increased due to investments in digital and risk capabilities and regulatory costs. Cash earnings rose by 3% to $530.2 million, and the bank declared fully franked dividends, maintaining the same rates as the previous year. The bank also deregistered several subsidiaries and terminated certain Special Purpose Entities (SPEs) during this period.
Key Points
  • Net profit after tax for FY26 was $375.1 million.
  • Revenue from ordinary activities increased by 2.8% to $1,994.3 million.
  • Cash earnings rose 3% to $530.2 million.
  • Final dividend declared at 33 cents per share, fully franked.
  • Previous year's results impacted by a $539.5 million goodwill impairment.
  • Focus on lower-cost deposits and prudent funding management.
  • Investments in digital and risk capabilities increased operating costs.
  • Several subsidiaries deregistered and SPEs terminated.
  • Regulatory provisions and costs of $58.8 million related to Banking Act breaches.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.