Bendigo and Adelaide Bank (ASX:BEN) Full Year 2024 Results

Key Financial Results

• Revenue: AU$1.86b (up 1.0% from FY 2023).

• Net income: AU$545.0m (up 9.7% from FY 2023).

• Profit margin: 29% (up from 27% in FY 2023).

• EPS: AU$0.96 (up from AU$0.88 in FY 2023).

BEN Banking Performance Indicators

• Net interest margin (NIM): 1.90% (down from 1.94% in FY 2023).

• Cost-to-income ratio: 57.5% (up from 54.9% in FY 2023).

• Non-performing loans: 0.07% (down from 0.11% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bendigo and Adelaide Bank EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.9%.

The primary driver behind last 12 months revenue was the Consumer segment contributing a total revenue of AU$1.12b (60% of total revenue). The largest operating expense was General & Administrative costs, amounting to AU$831.6m (63% of total expenses). Explore how BEN's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in Australia.

Performance of the Australian Banks industry.

The company's shares are down 3.9% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Bendigo and Adelaide Bank that you need to take into consideration.

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