Regional lender Bendigo and Adelaide Bank says its second-half profit will benefit from the release of $19.4 million of provisions relating to the COVID-19 pandemic as economic conditions improve.

In a release, issued within two weeks of its scheduled full-year results announcement, the bank said the “improved economic outlook for the Australian economy, including rising GDP, lower unemployment and higher residential property prices” compared to the end of last year, led to the release of the amount.