Bendigo Bank this morning announced a 34 per cent jump in its imterim profit to $72.8 million after tax for the half-year ending December 31.

The result includes six months of Bendigo Bank accounts and one month of Adelaide Bank, under the mew merger.

Cash earnings per share increased by 10.3 per cent, while the interim dividend was increased by four cents (16.7 per cent), to 28 cents per share (fully franked).

Bendigo Bank managing director Rob Hunt said the result demonstrated the bank’s ability to achieve solid growth at profitable prices despite current market conditions.

“The global financial services sector is experiencing a period of significant volatility and reduced confidence, with funding more difficult and more expensive to obtain,” Mr Hunt said.

“In that environment, we have demonstrated a commitment to write quality credit in reasonable volumes and at profitable prices – and that remains the focus of the merged Group.

“We have a proven retail banking capacity, strong liquidity and adequate funding which we are directing towards business that improves profitability, enhances customer relationships and improves our long-term prospects.

“So our strategy has not changed, just the market conditions in which we find ourselves.”