Bendigo and Adelaide Bank Ltd

BEN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$32.30	Vxjdn	Sxblhzpql

Bendigo and Adelaide Bank: Good Progress but Competition Is Not Standing Still

Nathan Zaia

May 27, 2024

Being much smaller than the major banks, reducing complexity and driving efficiency with digitization is crucial for no-moat Bendigo and Adelaide Bank to compete. The bank’s investor day highlighted recent success and work in progress on simplification and digitization, as well as growth opportunities. The bank is moving to one core banking system and consolidating brands, which should eliminate cost duplication and is in the early stages of rolling out a new loan origination platform, which should lower the cost of writing loans.

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