Bendigo and Adelaide Bank reported a statutory net profit after tax of $545.0 million, up 9.7% for the year, while cash earnings decreased by 2.6% to $562.0 million.
The bank's balance sheet remains strong with a Common Equity Tier 1 ratio of 11.32%, and customer deposits grew by 3.4% over the year.
Total lending increased by 2.6% annually and 6.7% annualised in the second half, with residential lending volumes growing 6.4% annualised.
The bank continues to invest in digital capabilities and key growth areas, targeting increased investment spend for FY25 and FY26, while maintaining medium-term goals of reducing the cost-to-income ratio and improving return on equity.
ASX Code: BEN