Strong profit growth for Bendigo bank
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Bendigo and Adelaide Bank has more than tripled its first half profit and says business conditions and confidence have improved in recent months.
Bendigo made a net profit of $189.4 million in the six months to December 31, up from $57.9 million in the previous corresponding period.
Cash earnings in the six months to December of $169.7 million were up 4.4 per cent from $162.6 million.
Managing director Mike Hirst said business conditions and sentiment improved during the second quarter of the financial year, but uncertainty remained in the market.
"In particular, we are yet to see more recent rallies in debt and equity markets translate into a material increase in demand for credit," he said in a statement.
Mr Hirst also said demand for loans remained weak and competition among banks for deposits was tough.