Bendigo and Adelaide Bank has reported a big fall in margins, with profits for the first half of the financial year badly missing expectations, pushing the regional lender’s share price down by almost a fifth.
The fall in lending margins came despite the bank writing more loans than expected and with more savings in higher interest accounts.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
