Bendigo Bank shares surge

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Shares in Bendigo and Adelaide Bank jumped after it posted a 4.2% rise in full year cash earnings to $418.3 million.

A short time ago, the shares were up 5.4% to $11.87.

Income rose 3.5% to $1.6 billion. Net interest margins improved in the second half, up 8 basis points to 2.34%.

“The bank has experienced above system growth, indicating our focus on providing our customers with the leading experience in financial services is working,” says managing director Mike Hirst.

The bank declared a steady final fully franked dividend of 34 cents a share.

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