Trade-Offs in Focus in Bendigo & Adelaide Bank's Earnings
Dow Jones
Aug 05
0028 GMT - Investors in Bendigo & Adelaide Bank are likely to focus on the trade-off between growth, margins and capital when the lender reports its FY26 result on Aug. 24, says Jefferies. "Key issues include the sustainability of business lending growth, FY27 margin drivers, agri credit quality and whether surplus capital can help close the gap to management's more than 10% return on equity target," analyst Andrew Lyons says. Jefferies expects Bendigo to achieve a 2H net interest margin of 1.97%, up 6bp on 1H. It also forecasts FY26 expense growth of 5%, implying 2H growth of 3%. Bendigo's dividend is likely to be flat at A$0.33/share and cash earnings could total A$518 million, up 1% on year.
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