The first six months of 2016-17 saw Bendigo and Adelaide Bank post a net profit after tax of $209 million and cash earnings of $224.7 million.
Cash earnings per share was down 9 cents to 48 cents, and return on equity dropped 33 basis points to 8.77 per cent.
Bad and doubtful debts for the half-year were $39.8 million, nearly double the figure in the previous half-year due to the continued write offs of Great Southern loans.
Bendigo managing director Mike Hirst focused on the bank's capital position, which is down slightly to 12.19 per cent following "strong growth in lending assets".
"This is validated by S&P’s risk adjusted capital ratio analysis, which shows the bank has a comparatively strong capital position in the industry," Mr Hirst said.
"To ensure this remains the case and to help support growth in the second half, we’ve increased the discount on the Dividend Reinvestment Plan."
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