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Bendigo Bank sees profits slide as virus increases bad debts – NEWS.com.au
Bendigo Bank’s profits slide as virus increases bad debts
The onset of the coronavirus pandemic has caused a financial rupture for Bendigo and Adelaide Bank, with the regional incumbent reporting its profits have nearly halved. Bendigo Bank posted a net profit of $192.8 million for the 12 months ending June 30, a 48.8 per cent decline compared with financial year 2019.
The impact has prompted the regional banking group to defer its final dividend. Its cash earnings after tax for the 2020 financial year were down 27.4 per cent to $301.7 million
Bendig…
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