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ASX:BEN

8 stories mentioning ASX:BENUpdated 8d ago

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Asia

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.

ASX:BEN
Asia

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.

ASX:BEN
Asia

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.

ASX:BEN
Asia

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.

ASX:ANZASX:BENASX:BOQASX:CBAASX:JDOASX:MQGASX:NABASX:WBCNZE:ANZNZE:WBC
Asia

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:BENASX:JDOASX:MQGASX:MYS
Asia

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.

ASX 200ASX:BENASX:MND
Asia

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%.

ASX:BEN
Asia

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.

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