Bendigo and Adelaide Bank (BEN) investor relations material

Executive summary

• Announced second phase of Productivity Program to accelerate 2030 strategy, focusing on operational efficiency and innovation through global partnerships.

• Entered seven-year technology partnership with Infosys and six-year business operations partnership with Genpact to enhance IT, process optimization, and risk management.

• Unaudited cash earnings for 3Q26 were $137.9 million, up 7.6% on 1H26 quarterly average; statutory NPAT was $109.4 million.

Financial highlights

• Net interest income for 3Q26 was $433.2 million, down 0.6% from 1H26 quarterly average but up 4.1% year-over-year.

• NIM rose to 1.98%, up 6bps sequentially, benefiting from deposit pricing, RBA rate rises, and higher swap rates.

• Total income was $504.9 million, flat sequentially but up 6.1% year-over-year.

• Operating expenses fell 4.1% sequentially, mainly due to reduced staff costs.

• Credit expenses were $2.1 million for the quarter.

Outlook and guidance

• Operational efficiencies from new partnerships are expected to deliver annual run rate expense benefits of $65–75 million by FY28.

• Upfront transition costs of $85–95 million anticipated, mostly in FY27.

• Guidance reaffirmed: business as usual expenses to be no higher than inflation through the cycle.