Bendigo and Adelaide Bank Earnings: Return to Loan Growth Expected as Margin Pain Continues

Margins are under pressure, loan balances are treading water, and operating expenses are rising. But Bendigo and Adelaide Bank is expected to benefit from less intense competitive pricing and an improved digital offering over the medium term. In addition to the bank’s digital offerings attracting new customers, we are confident successful digital loan and deposit products can be leveraged across the bank, especially in its mortgage broker channel. The bank is well-capitalized and heavily deposit-funded, and credit quality is sound.