Bendigo and Adelaide Bank (BEN) has announced an after-tax statutory profit of $227.3m for the six months ending 31 December, and noted that more customers are paying down their mortgages.
Underlying cash earnings of Australia’s fifth largest bank jumped 10.9% to $217.9m, while cash earnings per share also climbed 3.4% to 48.1 cents.
Managing Director Mike Hirst claimed the results reflect “disciplined margin management and balance sheet growth”.
"Whilst demand for housing loans is solid we are seeing an increase in customers paying down their debt across all portfolios. While this impacts the Bank's growth, it’s fantastic for our customers as they're building equity and greater financial wealth, particularly as interest rates have fallen,” Hirst said.
“Despite this environment, we’ve strengthened our balance sheet with a strong Basel III compliant liquidity position, while our capital raising activities have been well-supported by institutional and retail investors."

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker