August 11, 2019 / 11:11 PM / 2 months ago

Australia's Bendigo and Adelaide Bank posts 6.6% drop in FY cash earnings

Aug 12 (Reuters) - Australian mid-sized lender Bendigo and Adelaide Bank said on Monday its annual cash earnings fell 6.6%, hurt by higher remediation and redundancy costs.

For the 12 months ended June 30, cash earnings - which exclude one-off gains or losses - fell to A$415.7 million ($282.1 million) from A$445.1 million a year ago.

The bank maintained its final dividend at 35 Australian cents per share. ($1 = 1.4738 Australian dollars) (Reporting by Shriya Ramakrishnan in Bengaluru; editing by Richard Pullin)

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