Bendigo and Adelaide Bank has reported a 7.8% drop in cash earnings for the third quarter of the 2025 financial year (Q3 FY25) due to lower income from account keeping fees and its Homesafe home equity release service.
Australia’s sixth largest bank by assets said cash earnings after tax fell to A$122.2 million (US$79.3 million) in the three months ended 31 March 2025 from $132.6 million, which was the quarterly average of the first half of the current financial year (H1 FY25).
Profits for Q3 FY24 were not disclosed.
The bank said cash earnings fell largely because of lower other income while expenses were below the 1H FY25 quarterly average.
Other income dropped 13.6%, driven by lower completions in Homesafe, which allows customers to access equity in their homes, and lower account keeping fees.

“We remain focused on sustainable growth and productivity improvements as we scale the business,” Managing Director and CEO Richard Fennell said in an ASX announcement.
Unaudited statutory NPAT of $109.8 million in the quarter was 1.3% above the H1 FY25 average.
Net interest income was slightly lower than the 1H FY25 quarterly average with net interest margin flat on the prior quarter as residential mortgage growth slowed in the last month of the quarter while deposit growth was steady over the quarter.
During the quarter the bank migrated from the Rural Bank system and retired the Rural Bank brand in the final phase of its six-year transformation program and the number of core banking systems was reduced from eight to two.
Bendigo and Adelaide Bank (ASX: BEN) shares closed up nine cents (0.76%) at $11.86 on Friday, capitalising it at $6.74 billion.