ASX:BEN

Bendigo and Adelaide Bank to Issue AU$300 Million of Subordinated Notes

Bendigo and Adelaide Bank (ASX:BEN) is set to issue AU$300 million of subordinated floating rate notes on Friday, according to a same-day filing with the Australian bourse.The notes will mature in August 2036 and will be issued under the company's AU$12 billion debt instrument program.Bendigo and Adelaide Bank expects the proceeds of the issuance to increase its total capital adequacy ratio on a L2 basis by about 0.75% as of June 30.

Bendigo and Adelaide Bank Sufficiently Capitalized to Absorb Likely Fine From AUSTRAC Issues, Jarden Says

Bendigo and Adelaide Bank (ASX:BEN) is heading in a more comfortable operational direction following "strong" performance in the second half of fiscal 2026, and is sufficiently capitalized to absorb a potential fine resulting from regulatory issues, Jarden said in a Monday note.In 2025, the Australian Prudential Regulation Authority (APRA) and the Australian Transaction Reports and Analysis Center (AUSTRAC) handed down actions in response to deficiencies in the bank's risk management.Earlier this month, AUSTRAC said an investigation into 10 major Australian banks uncovered potential mortgage fraud involving inflated incomes, misrepresented employment, and fabricated or unverifiable business activity used to support loan applications."AUSTRAC issue remains outstanding and we expect likely to result in a fine," Jarden said, adding that the issues now appear to be factored into the stock price.Bendigo and Adelaide Bank's fiscal second-half cash net profit after tax beat consensus estimates by 5% as underlying business trends are "notably strong" despite a challenging operating environment, the investment firm said.It maintained an overweight rating on the company with a target price of AU$11.

Bendigo and Adelaide Bank Fiscal 2026 Cash EPS, Total Income Up

Bendigo and Adelaide Bank (ASX:BEN) logged AU$0.932 in cash EPS for fiscal 2026, compared with AU$0.91 a year ago, a Monday filing showed.For the 12 months ended June 30, total income was AU$2.05 billion versus AU$1.95 billion previously, the Australia-listed lender added.The board declared a final dividend of AU$0.33 per security, unchanged from a year earlier, payable Sept. 30 to shareholders of record as of Sept. 2.The company guided for fiscal 2027 operating expense growth of 4% to 5%, and expects investment spend to be flat compared with fiscal 2026.

Bendigo and Adelaide Bank Posts Fiscal 2026 Cash EPS of AU$0.932, Total Income of AU$2.05 Billion

Bendigo and Adelaide Bank Stops Potential Scam Payments of AU$58 Million in Fiscal 2026

Bendigo and Adelaide Bank (ASX:BEN) said it stopped potential fraud and scam payments worth AU$58 million in the fiscal year ended June 30, according to a Friday statement.It added that it provides customers with regular alerts about current scams targeting customers.The bank's shares rose 1% in recent trading on Friday.

ACCC Proposes Approval of Regional Multi-Bank ATM Trial

The Australian Competition and Consumer Commission (ACCC) is proposing to approve a regional automated teller machine trial for multi-bank withdrawals and deposits, it said Friday.Under the trial to be conducted by the Australian Banking Association and other financial institutions, all holders of an Australian-issued card will be able to withdraw cash on a fee-free basis, while customers of participating banks will be able to deposit cash without a fee.The ACCC said it proposes to grant authorization for three years, and is seeking feedback on its draft determination by Sept. 3 ahead of a final decision.

Australia's Financial Regulator to Review Banks' Lending Practices, Perform Stress Tests, Amid Slowing Credit Growth

The Australian Prudential Regulation Authority (APRA) will review banks' lending practices over the next 12 to 18 months to safeguard against potentially weaker lending standards amid slowing credit growth, the regulator said Thursday.In the first half of the review period, APRA will prioritize banks' lending to small and medium-sized businesses before increasing its focus on housing lending standards in the second half of the period.The review forms part of the regulator's latest corporate plan, under which it plans to maintain financial system safety and stability without creating undue costs for the industry."As we look across the operating environment, it's clear that the international and domestic economic environments remain challenging," said APRA Chair John Lonsdale. "Geopolitical tensions continue to have economic impacts on inflation, trade relationships and cost-of-living pressures."Additionally, APRA will conduct a joint stress-test exercise with the Reserve Bank of New Zealand to gauge resilience against a severe economic downturn at both the parent and subsidiary bank level. It will also start work on a new system-risk stress test to build on the entity-level testing.The shares of Australia's top banks, some of which have flagged a slowdown in mortgage applications, were lower in recent Thursday trade.Commonwealth Bank of Australia (ASX:CBA) fell nearly 3%, while ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Westpac Banking (ASX:WBC, NZE:WBC), National Australia Bank Limited (ASX:NAB), and Bendigo and Adelaide Bank Limited (ASX:BEN) all shed about 2%.

Investigation Finds Potential Widespread Mortgage Fraud, AUSTRAC Says

An investigation called Operation Claw uncovered potential mortgage fraud involving inflated incomes, misrepresented employment and fabricated or unverifiable business activity used to support loan applications, the Australian Transaction Reports and Analysis Center (AUSTRAC) said in a Wednesday statement.AUSTRAC's Fintel Alliance conducted a joint analysis of data from 10 major Australian banks, identifying potentially hundreds of millions of dollars in suspected fraudulent loans, mostly linked to properties in Sydney in New South Wales.The activity was not limited to one lender or borrower group, and recurring warning signs across the participating banks included falsified or misleading documents as well as the repeated use of mortgage brokers, accountants, and law firms across multiple loan applications.AUSTRAC worked with participating banks to identify controls that lenders can use to prevent, detect, and disrupt mortgage fraud. The lenders used the information generated through the investigation to identify potentially fraudulent loans, investigate suspicious activity, strengthen controls, and make further referrals to the authorities. Some banking relationships have been ended, and further action is expected."The same warning signs were found across banks that together cover the vast majority of Australia's mortgage market," AUSTRAC CEO Brendan Thomas said. "Every lender should be looking closely at these findings and asking whether the same vulnerabilities exist in their own business," he added.The Australian Banking Association did not immediately respond to a request for comments from.

Bendigo and Adelaide Bank to Address Deficiencies in Non-Financial Risk Framework After APRA Imposes License Conditions; Shares Plunge 9%

Bendigo and Adelaide Bank (ASX:BEN) established a multi-year program of work to address deficiencies in its current non-financial risk frameworks and capabilities after the Australian Prudential Regulation Authority (APRA) imposed license conditions on the lender, according to a Tuesday Australian bourse filing.The regulator said the conditions were imposed after "findings of longstanding and pervasive weaknesses in the bank's non-financial risk management framework and the failure of the bank's previous efforts to deliver sustainable improvement," according to a separate statement on the same day.The conditions will require the bank to undertake a rectification program, engage an independent assurer, and provide board attestation. APRA will maintain the bank's existing AU$50 million operational risk capital add-on, which came into effect on Jan. 1, until the watchdog is satisfied that the lender has effectively addressed the underlying prudential concerns.The program of work is expected to take around three years at an initial estimated cost of AU$70 million, which was included in the 2026 financial year results, the bank said.It reported unaudited preliminary fiscal 2026 cash earnings after tax of AU$530.2 million, up 3% year-over-year.For fiscal 2027, Bendigo Bank will revise the basis for financial reporting disclosure, presenting disclosures on a cash basis including and excluding notable items. Programs of work that were previously considered non-cash in fiscal 2026 will be included as notable items in fiscal 2027.Its shares plunged nearly 9% in recent trading on Tuesday.

Bendigo and Adelaide Bank Agrees to Proposed AU$8 Million APRA Penalty Over Banking Act Breaches

Bendigo and Adelaide Bank (ASX:BEN) acknowledged civil proceedings brought by the Australian Prudential Regulation Authority (APRA) over alleged contraventions of the Banking Act between 2020 and 2023, agreeing to a proposed AU$8 million penalty and AU$2.6 million in legal costs, subject to Federal Court approval, according to an Australian bourse filing on Monday after market hours.The action relates to its former Alliance Bank business, following a March 2023 cybersecurity incident that compromised around 250 Service One Alliance Bank accounts and led to around AU$140,000 being misappropriated, per the filing.The company said all affected customers were fully reimbursed, no other customers were impacted, and the affected systems have since been discontinued, with remediation completed, the filing added.

Bendigo and Adelaide Bank Fiscal Year 2026 Earnings to Stay Flat as Investors Focus on Returns, Jefferies Says

Bendigo and Adelaide Bank (ASX:BEN) is expected to report flat fiscal 2026 earnings, with returns still below the cost of capital, Jefferies said in a note on Wednesday.Investors will closely monitor how the bank balances growth, margins and capital. The bank is due to release its annual results on Aug. 24.The market will also be looking out for updates on the sustainability of business lending growth, fiscal year 2027 margin drivers, agricultural loan quality, and whether surplus capital can help lift returns closer to management's target of above 10% return on equity.Jefferies projects cash earnings of $518 million, up 1% year-on-year and in line with Visible Alpha estimates.The brokerage maintained its hold rating on Bendigo and Adelaide Bank and raised its price target to AU$10.32 from AU$10.13.

Bendigo and Adelaide Bank's Deceased Estates Team at Risk of Being Offshored, Finance Sector Union Says

Bendigo and Adelaide Bank's (ASX:BEN) deceased estates team, which helps families manage the financial affairs of a loved one after death, is now at risk of being offshored as the bank expands its use of "blueprinting," Australia's Finance Sector Union (FSU) said Wednesday.The bank has used blueprinting, a process where employees demonstrate how they work so that offshore workers can perform the same tasks, to send certain jobs to global outsourcing giant Genpact, the union claimed."The practice of forcing employees to aid the outsourcing of their work is cruel and outsourcing the deceased estates team is unnecessary," the FSU said.It called on Bendigo and Adelaide Bank to abandon blueprinting and focus on retaining its Australian workforce.The bank did not immediately respond to a request for comment from.Bendigo and Adelaide Bank shares gained 1% in recent Wednesday trade.

Bendigo and Adelaide Bank to Redeem AU$125 Million Subordinated Notes

Bendigo and Adelaide Bank (ASX:BEN) said it will redeem all AU$125 million of its subordinated floating-rate notes due Oct. 14, 2031, on Oct. 14, the first optional early redemption date for the securities, according to a Wednesday Australian bourse filing.The bank said the redemption has received approval from the Australian Prudential Regulation Authority (APRA), with note holders set to receive the AU$10,000 face value per note along with the final interest payment, subject to the terms and conditions, per the filing.The bank clarified that the redemption does not signal any intention to redeem other regulatory capital instruments in the future, as such actions would also require approval from APRA, the filing added.

Bendigo and Adelaide Bank Reaffirms Support for Customers Facing Financial Distress

Bendigo and Adelaide Bank (ASX:BEN) reaffirmed its commitment to support customers facing financial stress, and it extends support to Australian businesses through its participation in the Australian government's Economic Resilience Program, according to a Wednesday statement.Its specialized mortgage help team is equipped to work with customers struggling with repayments on mortgages, personal loans, credit cards, equipment finance loans, business loans, or overdrafts.Its teams also seek to provide customers who do not have loans with the bank but are showing signs of financial distress with the right products and help guide them to external support services.

Macquarie Group Continues to Outperform Banking Majors with Superior, Fully Digitized Platform, Jarden Says

Macquarie Group (ASX:MQG) continues to outperform banking majors with a simple and fully digitized platform, according to Jarden in a Thursday note.At this pace, Macquarie may surpass around 10% market share on both sides of the balance sheet in the near term. Commonwealth Bank of Australia's (ASX:CBA) net interest margin edge, free deposits look tenuous with IT and competition from Macquarie, ANZ Group Holdings (ASX:ANZ, NZE: ANZ), National Australia Bank (ASX:NAB), and potentially, stablecoins. Strong volumes are offset by competition.Jarden considered the fiscal year 2026 Australian budget as changing incentives, increasing complexity, and exacerbating the skew to financialization over increasing physical industrial capacity.High valuations reflect market index concentration and disappointment in other sectors, but expose major banks to abrupt and extreme mean reversion if the status quo changes.The investment firm assigned ANZ Group an overweight rating and price target of AU$35.50 per share. It also has sell ratings on Commonwealth Bank, National Australia Bank, and Westpac Banking (ASX:WBC, NZE:WBC) with price targets of AU$90 per share, AU$29 per share, and AU$31 per share, respectively.It also assigned Macquarie a buy rating with a price target of AU$250 per share, Bendigo and Adelaide Bank (ASX:BEN) a neutral rating with a AU$11 per share price target, Bank of Queensland (ASX:BOQ) a sell rating with a price target of AU$5.50 per share, and Judo Capital Holdings (ASX:JDO) a buy rating with a price target of AU$2.50 per share.

APRA to Introduce Three-Tiered Approach to Proportionality in Prudential Framework for Banking

The Australian Prudential Regulation Authority (APRA) wrote to banks and confirmed plans to formally introduce a three-tiered approach to proportionality in its prudential framework for banking, according to a Wednesday statement.Effective July 1, APRA said it will introduce a third tier of "Most Significant Financial Institutions" for banks with total assets of over AU$300 billion, raise the asset value threshold for banks to qualify as a "Significant Financial Institution" (SFI) to AU$30 billion from AU$20 billion, and automatically provide a 12-month transition period when a regulated institution moves to a higher tier.The regulator said the planned move was in response to the Council of Financial Regulators' review into small and medium-sized banks, undertaken in consultation with the Australian Competition and Consumer Commission.APRA also committed to providing non-SFIs with additional time to comply with new and revised prudential requirements when appropriate.Judo Capital Holdings' shares shed about 1% in recent Wednesday trade.

ASX Preview: Australian Shares Set to Rise as Oil Eases on Middle East Volatility; Bendigo and Adelaide Bank Posts Higher Total Capital for March Quarter

Australian shares are poised to rise on Friday as oil prices settled lower after a volatile session driven by shifting geopolitical tensions in the Middle East, easing some near-term inflation and supply pressure concerns despite ongoing uncertainty around the US-Israeli conflict with Iran.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.2%, 0.1%, and 0.6%, respectively.In the macroeconomy, investors are eyeing Australia's consumer price index report next week.In corporate news, Bendigo and Adelaide Bank (ASX:BEN) reported on Friday that its total capital for the quarter ended March 31 rose to nearly AU$6 billion, compared with AU$5.91 billion a year ago.Monadelphous Group (ASX:MND) secured new construction and maintenance contracts in the resources and renewable energy sectors, totaling AU$120 million.Australia's benchmark index rose 1.5% or 125.1 points to close at 8,621.70 on Thursday.

Bendigo and Adelaide Bank Posts Higher Total Capital for March Quarter

Bendigo and Adelaide Bank (ASX:BEN) reported on Friday that its total capital for the quarter ended March 31 rose to nearly AU$6 billion, compared with AU$5.91 billion a year ago.Its common equity tier 1 ratio also increased to 11.38% from 10.83% in the prior year, while liquidity coverage ratio (LCR) also grew to 135.7% from 134.1%.

Bendigo and Adelaide Bank Launches Virtual Banking Team

Bendigo and Adelaide Bank (ASX:BEN) launched a virtual banking team with 50 personal bankers and home lending specialists to provide support for its mortgage brokers and their customers, the banking and financial services company said in a statement on Wednesday.The team is operational and ready to assist the bank's accredited brokers, the statement said.