Bendigo Bank's Results Signal Tough Times Ahead
No-moat-rated Bendigo and Adelaide Bank’s below-expectation first-half profit clearly reflects the challenging operating environment currently facing smaller banks. Bendigo continues to struggle against the major banks with their strong market positions, favorable mortgage capital requirements, large scale, and competitive advantages--particularly around funding costs, operating expenses, and regulatory spend. Bendigo’s return on equity continues to disappoint, with a 39-basis-point decline to 7...Bendigo & Adelaide Bank provides a range of banking and other financial services including consumer, residential, business and commercial lending, deposit-taking, payments services, wealth management, funds management and superannuation, treasury and foreign exchange services. Co. provides these services primarily to retail customers and small to medium sized businesses throughout Australia. The key lending activities are commercial finance, business lending and consumer finance which includes residential loans, personal loans, credit cards and overdrafts. As of June 30 2016, Co. had total assets of A$68.58 billion and total deposits of A$57.05 billion.
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