By Digifin Pty Ltd · About this coverage
Key Points
- Unaudited cash earnings of $112.7 million, up 18.5% on the 2H26 quarterly average
- Unaudited statutory net profit after tax of $66.0 million
- Net interest margin 1.94%, down 6bps on 4Q26
- Customer deposits $74.3 billion; lending balances down 3.1% annualised
- Programs previously treated as non-cash items to be reported as notable items in FY27
About Bendigo Bank (ASX:BEN)
Bendigo and Adelaide Bank Limited is an ASX-listed retail and business bank headquartered in Bendigo, Victoria. It provides home loans, personal and business lending, agribusiness finance, deposits and related products to consumers, small businesses and farmers across Australia, distributed through its own branches, a Community Bank network run with locally owned companies, brokers and digital channels. It also owns the digital bank Up.
Bendigo and Adelaide Bank has reported unaudited first-quarter FY27 results and set out a change to its reporting, under which programs previously treated as non-cash items will be classified as notable items from FY27.
Unaudited cash earnings after tax were $112.7 million for the quarter ended 30 September 2026, up 18.5% on the 2H26 quarterly average, and unaudited statutory net profit after tax was $66.0 million. Net interest margin was 1.94%, down 6bps on 4Q26, which the bank attributes mostly to temporarily higher liquid assets, higher wholesale funding and an adverse change in deposit mix. Against the 2H26 quarterly average, net interest income rose 2.4%, other income fell 10.3% and total operating expenses were 5.8% lower, with notable items 49.8% lower mainly because the risk rectification plan provision was booked in 4Q26. Credit expenses were $6.8 million. Customer deposits grew to $74.3 billion, while lending balances contracted 3.1% annualised, with overall business lending down 12.5% annualised following the exit of a large Portfolio Funding client.
The bank says work to address deficiencies in its management of non-financial risk continues, including development of its risk rectification plan and appointment of an independent reviewer. All quarterly earnings figures are unaudited, and the APS330 and additional credit tables will not be released until 13 November 2026.
Source: Bendigo and Adelaide Bank Limited (ASX:BEN), 19 October 2026. Summary content supplied by Digifin Pty Ltd.
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