The fifth largest bank in Australia, Bendigo and Adelaide Bank Ltd (ASX:BEN) of which Delphi Bank is a member, has reported a $243.9 million net profit after tax for the first half of the 2020-21 financial year to 31 December, 2020. This was a 67.3 percent increase on the prior corresponding period.
The General Manager Bendigo Specialised Banking and Delphi Bank, Jim Sarris said: “The achievement of a solid half year result demonstrates the ability of our organisation to move quickly and with care to support our customers and communities.”
“Whilst we have met, and in some cases, exceeded our growth targets – we remain firmly committed to providing a positive customer experience, and delivering on our customer needs,” said Mr Sarris.
The strength of its financial performance saw a growth in customer numbers and market share in lending and deposits.
READ MORE: My Life in Lockdown: Q&A with Delphi Bank Head Jim Sarris
The bank group experienced a 4.3 percent rise to 1.96 million of customers as of 30 June. Customer deposits were up 12.9 percent. Total borrowing rose to $68.3billion, up 8.6 percent and total deposits rose to $72.3 billion (up 8.5 percent).
The group was the highest rated bank in Australia for supporting its customers through the COVID-19 pandemic.
As a result of the support it gave customers through a difficult year, the banking group was rated among Australia’s top 20 most trusted brands in all categories.