Bendigo and Adelaide Bank credit quality "exceptional"

Users of credit cards might benefit from hearing more about the Bendigo and Adelaide Bank interim results.

People with Bendigo and Adelaide Bank credit cards may be in a better position after hearing the bank's interim results.

Mike Hirst, managing director for the Bendigo and Adelaide Bank Group, said its credit quality "remains exceptional across the majority of our loan portfolio".

"This reflects not only the strength of the Australian economy and employment market in general, but also the sound underwriting standards and low-risk nature of our portfolio." he added.

The bank announced it had made a six-month post-tax profit of $134.2 million - before significant items – up to December 31st.

This was down to its low-risk balance sheet among other factors, including its customer base and resilience of business units throughout the economic crisis.

A $2.94 billion half-year profit was made by the Commonwealth Bank of Australia, which it managed after deciding to keep its interest rates low, reported the Herald Sun earlier this month.

By Kate Guthrie