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Rate rises help Bendigo lift H1 profit 11%

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February 12, 2018

Bendigo and Adelaide Bank has lifts first-half cash profit 10.7 per cent

Bendigo and Adelaide bank has lifted first-half cash profit 10.7 per cent to $225.3 million, boosted by mortgage repricing.

The lender says the cash profit for the six months to December 31 had risen from $203.5 million in the prior corresponding period, with investor and interest-only home loan rate rises helping lift its net interest margin 0.1 percentage points from June 2017 to 2.36 per cent.

Net profit rose 10.9 per cent to $231.7 million and Bendigo raised its interim dividend one cent to 35 cents, fully franked.

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