Bendigo and Adelaide Bank falls most in 11 months on weak HY cash earnings

Bendigo and Adelaide Bank

19/02/2024 24:35

** Shares of Bendigo and Adelaide Bank  BEN.AX  slip as much
as 4.4% to A$9.460, their biggest intraday loss since March 14,
2023 
    ** The Australian bank posts a 9% drop in HY cash earnings
attributable to A$268.2 mln ($175.32 mln)
    ** Expects bad debts to trend upwards and move towards
longer-term averages over time 
    ** Also declares interim dividend of 30 AU cents per share
    ** Shares hit their lowest level since Jan 18 
    ** About 2 mln shares exchange hands vs the 30-day average
of 1.4 mln shares 
    ** BEN up 2.3% YTD as of last close 
    
($1 = 1.5298 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))