Bendigo & Adelaide Bank Ltd. · ASX:BEN
Bendigo & Adelaide Bank — FY2020 Earnings Presentation
76 slides from Bendigo & Adelaide Bank's earnings presentation, Aug 17, 2020
Slide 1: Results Presentation
Results Presentation For the full year ended 30 June 2020
Slide 2: Agenda
Agenda Overview Marnie Baker FY20 financials Travis Crouch COVID-19 impacts Taso Corolis Summary Marnie Baker Questions Marnie Baker, Travis Crouch & Taso Corolis 2
Slide 3: Overview
Overview Marnie Baker Managing Director 3
Slide 4: FY20 results - overview
FY20 results - overview • Strong deposit funding and liquidity profile Strong financial • Reinforced balance sheet: CET1 of 9.25% position • Well secured lending portfolio • Resilient business performance • Supporting our customers and partners Purpose • Assisting communities in action • Protecting
Slide 5: Key measures
Key measures Strong growth with heightened focus on costs -1.0 Customer 1.88m Net promoter 32.1 3 24.8 numbers 1.71m score -3.1 Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20 2.24% 76.18% Market 75.08% MFI business 48 48 1 4 share 2.18% NPS -22 -16 Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20
Slide 6: FY20 financial result
FY20 financial result Pre-COVID-19 impacts earnings broadly stable FY20 FY19 FY20 vs FY20 net profit ($m) ($m) FY19 impacted by1 Statutory net profit $192.8 $376.8 (48.8%) • COVID-19 collective Cash earnings $307.1 $415.7 (27.4%) provision overlay of $127.7m Cash earnings (ex COVID-19 impacts)2 $403
Slide 7: Dividends
Dividends Balance sheet well positioned Balance sheet Dividends • Strong customer deposit funding at 75.2% backed by • Whilst economic uncertainty remains and the impact of wholesale funding programs COVID-19 is still evolving, the Board has acted prudently to defer a final dividend decision • Liqui
Slide 8: Operating in a COVID-19 environment
Operating in a COVID-19 environment Unprecedented economic disruption, requiring decisive and collaborative action Economy has severely contracted Support measures put in place • First recession in 30 years and largest contraction since 1930 • Government and banks work together to support Australian
Slide 9: Purposeful in our response to COVID-19
Purposeful in our response to COVID-19 Supporting our customers and employees Our customers Our employees • As at 31 July, a total of 24,365 customer accounts have received 3 - 6 month • Granted all permanent employees an additional payment deferrals with 4,041 accounts having recommenced payment 10
Slide 10: Purposeful in our response
Purposeful in our response Community at our core Harden Murrumbeena Community Bank Branch Community Contributions Community Bank Granted $20,000 towards a stimulus package for local Over $245m in community contributions1 since Over 220 Community Banks have businesses to apply for assistance due to C
Slide 11: Strategy
Strategy Multi-year transformation and growth strategy in action VISION Australia’s bank of choice PURPOSE To feed into the prosperity of our customers and communities, not off it STRATEGY OUTCOMES Reduce complexity Seamless customer experience Invest in capability Medium-term reduction in cost base
Slide 12: A national bank with distinctive and compelling strengths
A national bank with distinctive and compelling strengths Focused on key growth markets New customers in FY20 Key priority markets Our competitive strengths and advantages • Trusted brand • Service and relationship • Grounded in purpose • Embedded in community Couples, Families, Millennials • Strong
Slide 13: Executing on our growth and transformation strategy
Executing on our growth and transformation strategy 1 Early action to remove complexity and cost 2 Investing in capacity for growth in existing and new markets Reducing operational complexity and moving on productivity 3 opportunities Prioritising growth and transformation opportunities in line with
Slide 14: Executing on our growth and transformation strategy: early action taken
Executing on our growth and transformation strategy Early action taken 1 Early action to remove complexity and cost FY20 actions • Reduction in businesses and brands • Acquired remaining 50% of Community Sector Banking joint venture and commenced • Geography/locations consolidation optimisation of t
Slide 15: Executing on our growth and transformation strategy: investing in growth
Executing on our growth and transformation strategy Investing in growth 2 Investing in capacity for growth in existing and new markets Existing customers Key growth markets Millennials, couples, families, professionals, savers Customers as Market share $1.8 trillion housing loan market Millennials a
Slide 16: Growth in core consumer origination channels
Executing on our growth and transformation strategy Growth in core consumer origination channels FY20 residential lending settlements - by channel Customer deposit portfolio by channel – June 2020 Retail - branch network 32% TPB - Mortgage Partners 21% 22% Branches TPB - Mortgage Brokers 19% TPB 1%
Slide 17: Structural and sustainable change
Executing on our growth and transformation strategy Structural and sustainable change 3 Reducing operational complexity and moving on productivity opportunities • Established a cost transformation program to: Examples: • Pursue significant cost reductions focusing on • Optimise front-line productivi
Slide 18: Delivering on our growth and transformation strategy
Delivering on our growth and transformation strategy Reset operating model for the new world Prioritising growth and transformation opportunities in line with changing 4 customer needs and operating environment • Simplified business and operating model with ability to scale • Ability to anticipate a
Slide 19: Delivering on our transformation strategy
Delivering on our transformation strategy To support growth, increase operational leverage and maintain a leading customer experience • Introduced ability to sign documents digitally and identify customers via video Customer • Collection of digital capability initiatives and products delivered to en
Slide 20: FY21 transformation roadmap
Delivering on our transformation strategy FY21 transformation roadmap • Simplify and then digitise key customer journeys prioritising joining the bank, home, business and agribusiness lending Outcomes • Simplify our operating structures and continue to expand our capability around • Reduced time to
Slide 21: FY20 financials
FY20 financials Travis Crouch Chief Financial Officer 21
Slide 22: Financial performance
Financial performance FY20 FY19 FY20 v 2H20 v ($m) ($m) FY19 2H19 Net interest income $1,346.4 $1,308.0 2.9% 3.2% Other income $267.8 $291.5 (8.1%) (11.8%) 1 Homesafe $15.7 $14.1 11.3% 24.6% Operating expenses $1,021.5 $954.5 7.0% 8.9% Credit $168.5 $50.3 235.0% 485.9% Cash earnings (after tax) $301
Slide 23: COVID-19 impacts
COVID-19 impacts FY20 ($m) Notable COVID-19 impacts on FY20 financials: • Other income reductions associated with customer Other income $8.8 activity Fee, Commission and FX income • Direct costs associated with staff safety and welfare Operating expenses • Higher leave provisions as our staff respon
Slide 24: Lending growth profile
Lending growth profile Total lending Residential lending Business lending3 +$3.9b 9.4% 12 months1 +$3.5b 5.8% 5.4% 2.9% 2.6% 1.3% -$0.6b -3.7% -6.7% Reflects seasonality +$2.3b +$2.7b 10.7% 6 months 2 8.7% (annualised) 9.7% 7.2% +$0.3b 3.2% 3.5% 2.6% -0.5% 1 APRA Monthly Banking Statistics June 2020
Slide 25: Executing on strategy
Executing on strategy Residential lending applications – by month $3000m FY20 $2500m Start of COVID-19 restrictions $2000m $1500m $1000m $500m $m Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 1 Loan applications represent total retail and third party banking mortgages. Excludes Delphi Bank, Alliance Bank and l
Slide 26: Residential lending activity
Residential lending activity Retail - settlements breakdown Third Party Banking – settlements breakdown ($m) 1 1 ($m) $5,000m $5,000m $4,000m $4,000m $3,000m $3,000m $2,000m $2,000m $1,000m $1,000m $m $m OO INV Total OO INV Total 1H19 2H19 1H20 2H20 1H19 2H19 1H20 2H20 1 Excludes Delphi Bank, Allian
Slide 27: Net interest margin
Net interest margin Historical NIM (%) 2.35 2.37 2.37 2.36 2.33 2.29 • FY20 NIM contracted by 3bps to 2.33% 0.40 0.40 0.38 0.36 0.40 0.37 • Ongoing active management of price/volume balance – lending and term deposits • Lending portfolio rate continues to drive lower due to mix of growth 1.95 1.97 1
Slide 28: Income
Income FY20 FY19 FY20 vs 2H20 vs 2H20 vs ($m) ($m) FY19 1H20 2H19 • Strong loan growth in 2H20 offset by margin compression • COVID-19 pandemic reducing 2H20 income Net interest income $1,346.4 $1,308.0 2.9% (0.9%) 3.2% • Fee income – reduction of $5.9m Fee income $155.5 $163.8 (5.1%) (3.9%) (3.5%)
Slide 29: Operating expenses
Operating expenses • Excluding accelerated investment in technology spend, operating expenses were up 1.5% for FY20 FY20 FY19 FY20 vs 2H20 vs 2H20 vs ($m) ($m) FY19 1H20 2H19 • Increase in staff costs has enabled execution of strategy • Higher costs due to COVID-19 Staff costs $567.1 $518.5 9.4% 7.3
Slide 30: Staff costs – investment
Staff costs – investment • Investment in staff to support execution of growth strategy and support organisational priorities: • Residential lending growth - business development managers and processing staff to deliver above systems growth • Risk and Compliance - ensuring risk capabilities continue
Slide 31: Consumer division
Consumer division • Strong growth in residential mortgages of $3.1bn, following investment in Third Party distribution and processing capacity FY20 FY19 FY20 v 2H20 vs 2H20 vs ($m) ($m) FY19 1H20 2H19 • Post initial COVID-19 shock, strong volume recovery in both residential lending and deposits Net
Slide 32: Business division
Business division • Lower NII reflects a contraction in lending portfolio through 1H20, FY20 FY19 FY20 v 2H20 vs 2H20 vs ($m) ($m) FY19 1H20 2H19 a modest reduction in asset margins and lower contribution from business deposit channels Net interest income $288.1 $295.8 (2.6%) (3.2%) (2.4%) • Busines
Slide 33: Agribusiness division
Agribusiness division FY20 FY19 FY20 v 2H20 vs 2H20 vs ($m) ($m) FY19 1H20 2H19 • Growth in loan book combined with strong margin management contributed to improvement in net interest income Net interest income $155.4 $136.3 14.0% (0.3%) 13.5% • Other income increase mainly due to higher revenue fro
Slide 34: Homesafe investment property portfolio
Homesafe investment property portfolio • Proceeds on contracts completed during 2H20 exceeded carrying value by $1.9m Homesafe portfolio & funding balance ($m) • Average annual return on completed contracts since inception is 734.5 779.8 9.8% p.a, pre funding costs • Following strong property apprec
Slide 35: Bad and doubtful debts
Bad and doubtful debts 2H20 1H20 2H19 1H19 • FY20 BDD charge excluding COVID-19 overlay was 8bps of gross ($m) ($m) ($m) ($m) loans, with COVID-19 collective provision overlay contributing a Consumer division ($3.5) ($0.4) $13.0 $5.7 further 18bps (total 26bps of GLA) • COVID-19 collective provision
Slide 36: Arrears
Arrears Arrears collection activities 1 temporarily suspended with Commercial loan arrears Residential loan arrears resources redirected to assist customers $8.5b 1.6% 4.0% 1.2% 3.0% $6.5b 2.0% 0.8% 1.0% 0.4% 0.0% $4.5b 0.0% Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Portf
Slide 37: Funding mix
Funding mix • Funding mix continues to be a strength, allowing flexibility to Funding profile (%) fund asset growth and manage margin 5.4 5.9 5.2 • Despite RBA cash rate reductions, group call deposit portfolio 19.6 19.7 19.6 has increased ~$3.0b during 2H20, replacing higher cost term deposits 37.2
Slide 38: Capital
Capital • Balance Sheet Strength Total capital & CET1 - historical (%) • 33bps increase in CET1 since June 2019 to 9.25% 13.14% 13.61% • Target CET1 range of 9.0% – 9.5% remains and will be 12.21% 12.46% 12.85% reviewed after APRA finalises its review of the capital adequacy 8.62% 8.92% 9.25% framew
Slide 39: COVID-19 impacts
COVID-19 impacts Taso Corolis Chief Risk Officer 39
Slide 40: Action taken to support our customers and end of deferral arrangements
Action taken to support our customers and end of deferral arrangements Repayment deferrals through COVID-19 In response to customer needs we: ~8% reduction from peak • Doubled our staff numbers providing assistance to our consumer customers 13,641 13,521 • Substantially increased the mobility and po
Slide 41: Supporting our customers through COVID-19
Supporting our customers through COVID-19 (as at 30 June) Residential lending % of total deferrals - by state Total accounts assisted 23,534 Total balance assisted $7.4b Accounts active 21,621 18% Balance active $6.9b 11% 7% Residential & consumer support packages Commercial support packages 22% 1 (
Slide 42: COVID-19 in Victoria – detail
COVID-19 in Victoria – detail (as at 30 June) Accounts active 9,020 Balance active $3.0b Metropolitan Victoria Regional Victoria Residential & consumer support Residential & consumer support Commercial support packages (active) 1 Commercial support packages (active)1 packages (active) packages (acti
Slide 43: Residential lending - COVID-19
1 Residential lending - COVID-19 % exposures by payments in advance 2 % exposures by payments in advance (including offset balances) 2 Prepayment buffers have strengthened 33% >3 months (including offset balances) Victoria Prepayment buffers in Victoria 35% >3 months 40 28% 29% 18% 20% 18% 18% 20 10
Slide 44: Residential lending - COVID-19
1 Residential lending - COVID-19 % exposure dynamic LVR Band - Victoria vs % exposures residential security type total2 >80% with LMI: 58.7% VIC: 58.7% 86% Total: 51.6% 46.1% 35.8% 37.8% 4.4% 14% 9.7% 1.1% 6.3% <=60 60<=80 80<=90 >90 House Unit VIC Total House Unit % exposures dynamic LVR Length of
Slide 45: Supporting our customers through COVID-19
Supporting our customers through COVID-19 (as at 30 June) Total commercial portfolio vs commercial support packages - by industry ($m) 6,337.1 3,333.9 1,715.2 844.4 640.1 479.6 390.4 353.2 339.9 234.7 235.3 228.4 194.3 132.1 120.1 109.0 107.0 142.3 137.0 58.0 65.8 75.7 58.0 50.8 84.7 26.4 Agricultur
Slide 46: Commercial lending - COVID-19
1 Commercial lending - COVID-19 Length of customer relationship Current LVR band Victoria vs total COVID-19 (% COVID-19 (% EAD)2 EAD) Significant weight to long term customer relationships 50.3% 51.5% Less than 1 year 5.0% >100: 4.1% Unsecured: 5.5% 1 to 2 years 8.8% 30.9% 32.4% 2 to 3 years 7.3% 3
Slide 47: COVID-19 collective provision and GRCL adjustments
COVID-19 collective provision and GRCL adjustments Total collective provisions and GRCL Total provision coverage ratio ($m) (Collective and GRCL) 1.02% 349.8 20.6 0.67% 0.59% 0.54% 0.38% 0.35% $148.3m 127.7 234.3 221.4 Jun 2019 Dec 2019 Jun 2020 77.3 as % of Credit RWA as % of Gross loans 74.2 66.0
Slide 48: Summary
Summary Marnie Baker Managing Director 48
Slide 49: Closing comments
Closing comments • Expect market conditions to remain challenging • Commitment to growth and transformation strategy remains • Increased intensity on cost reduction program • Flexibility around accelerated investment program spend to align with revenue growth • Continue to target a sustainable cost
Slide 50: Questions
>| Bendigoand AdelaideBank
Slide 51: Appendix
Appendix >| Bendigoand AdelaideBank
Slide 52: Appendix index
Appendix index Section Page Number Climate change strategy 53 Executive team 54 Awards 55 Physical presence 56 Changing customer preferences 57 Community Bank model 58 Up 59 Tic:Toc 60 COVID-19 economic outlook & scenario weightings 61-62 Residential portfolio 63-65 Residential portfolio – COVID-19
Slide 53: Climate Change strategy
Climate Change strategy Strategy and three-year Climate Change Action Plan commenced June 2020 Our Climate Action Focus Areas “Bendigo and Adelaide Bank recognises climate change has far- reaching risks for the environment, the economy, society, our Reduce our footprint: We will reduce the carbon an
Slide 54: Executive team
Executive team >| BendigoandAdelaideBank
Slide 55: We are well placed
We are well placed Goraumer Canstar Banking Satisfaction® 5-Star Rated for Home Loan customers : . Adelaide Bank B SMEEMTEAE saEUEEIBEET EE NSaOrTEET Australian ome Lendee Up winner of Fintech Banking Home Lender Fixed 9th most Australia awards for an Investment Home Lender ‘ and Trust trusted brand
Slide 56: Physical locations
Physical locations PHYSICAL LOCATIONS o ‘owned branch 154 Community Bank® branch 321 if) Delphi Bank 2 Rural Bank A Alliance Bank Private Franchises >| BendigoandAdelaideBank
Slide 57: Changing customer preferences
Changing customer preferences Customer preferred card usage 100% E-banking platform usage 90% Up 9.1% through FY20 80% with 18.7% more logons 70% 60% 50% Historic transactions trends 40% 60 Millions 30% 50 40 20% 30 20 10% 10 0% 0 2015Q4 2016Q2 2016Q4 2017Q2 2017Q4 2018Q2 2018Q4 2019Q2 2019Q4 2020Q2
Slide 58: The Community Bank model
The Community Bank model Community Bank footings ($bn) • Community ban ing is based on a ‘ rofit with ur ose’ model, which means profits are returned directly to the community which has generated them 21.0 22.2 23.2 20.0 18.3 • Over $245m in community contributions1 since inception, enabling tangibl
Slide 59: Australia's first and largest mobile-only digital bank
Australia’s first and largest mobile-only digital bank designed and delivered in partnership with Ferocia Through a design and technology-led banking approach, Up reconnects people with their finances, taking them from a place where money is a cause of stress and anxiety to a happier place where the
Slide 60: Tic:Toc
Tic:Toc – approvals & settlements v portfolio $120.0 $900.0 Millions Millions Tic:Toc Home Loans Strong portfolio growth, reflecting product, experience and $80.0 $600.0 acquisition optimisation and the shift in customer behaviour to digital. • More than $1.22bn in approved value (125% increase $40.
Slide 61: COVID-19 economic outlook
COVID-19 economic outlook Unemployment (%) House prices and commercial property prices 1 16.0% (%) 14.0% 5.0% 12.0% 0.0% 10.0% 8.0% -5.0% 6.0% 4.0% -10.0% Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Base scenario Significant deterioration -15.0% -20.0% Gross Domestic Product (%) 5.0% -25.0% 0.0
Slide 62: COVID-19 scenario weightings & sector overlays
COVID-19 scenario weightings & sector overlays Economic outlook - scenario weights $75.2m Business and consumer portfolio overlays $52.5m More exposed industries - % of GLA3 0.05% 0.08% Scenario weightings 0.11% June 2020 5% 30% 50% 15% 0% 0.21% Information media and Dec 2019 1% 22% 53% 22% 1% telec
Slide 63: Residential lending portfolio
Residential lending portfolio Retail - portfolio ($b)1 Exposure by state 23.5 23.1 22.8 22.4 22.3 21.7 21.2 15% Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 9% 10% 1 TPB - portfolio ($b) 19.9 26% 18.0 16.8 38% 16.3 16.1 15.6 15.8 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 2% 1 Loan portfol
Slide 64: Residential lending portfolio – total exposure
Residential lending portfolio – total exposure Retail lending - purpose (%) Retail lending - payment type (%) 19.4% 18.4% 17.3% 15.9% 15.1% 34.5% 32.7% 32.8% 33.0% 32.8% 68.1% 69.8% 71.4% 73.1% 74.6% 65.5% 67.3% 67.2% 67.0% 67.2% 12.5% 11.8% 11.3% 11.0% 10.2% Jun-17 Dec-18 Jun-19 Dec-19 Jun-20 Jun-1
Slide 65: Residential lending portfolio key metrics
Residential lending portfolio key metrics 1 Home Loans 90+ days past due - by state Residential portfolio and settlement metrics 3 Jun-20 Dec-19 3.0% Retail mortgages 54% 56% Third Party mortgages 46% 44% 2.0% Lo Doc 1% 1% 1.0% Owner occupied 64% 63% Owner occupied P&I 90% 89% 0.0% Owner occupied I/
Slide 66: Residential lending – COVID-19
1 Residential lending – COVID-19 Loan type by principal & interest and interest only- First home owners – COVID-19 (% EAD)2 COVID-19 (% exposures) Payment profile heavily skewed towards P&I providing additional $3,926m flexibility for customers to consider IO payment 9.1% 89% $249m 79% 63% 6.7% 37%
Slide 67: Deposit profile and credit card utilisation
1 Deposit profile andcredit card utilisation Growth in total COVID-19 customer deposit balances Growth in total COVID-19 customer deposit balances since Jan 20202 since Jan 2020 - no buffer and <1 month payments in Existing reserves are building advance2 Even with current low or no buffers, total cu
Slide 68: Business division segments
Business division segments Business division - CRE portfolio • Small Business proposition continues to build on prior period momentum, as a clear differentiator within the market, 26.5% 26.6% 26.7% 27.3% 27.6% 28.0% 28.0% 28.4% 28.6% 28.7% 28.9% 29.4% 29.4% achieving growth over the year • Commercia
Slide 69: Agribusiness portfolio
Agribusiness portfolio Agri exposure by industry Exposure by state 3.9% 4.7% Grain/Sheep/Beef 7.7% Sheep/Beef 32.6% Grain 8.1% Beef Dairy 13.5% Sheep Other 9% 15.0% Hort./Vit. 14.5% 19% 16% Agribusiness portfolio ($) 19% 6.1 6.0 5.9 5.8 5.7 5.6 34% 5.4 3% Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Ju
Slide 70: Provision coverage
Provision coverage Specific provision Specific provisions breakdown ($m) balance ($m) 80.00 60.00 78.4 40.00 20.00 - Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20 Jun-19 Jun-20 Consumer - Retail Consumer - Third Party Business Banking Agribusiness Great Southern Consumer – Third Provision
Slide 71: Funding and liquidity
Funding and liquidity Wholesale funding composition Liquidity Coverage Ratio – 3 month average2,3 Jun-20 Mar-20 Dec-19 Sep-19 9% ($b) ($b) ($b) ($b) High quality liquid assets 5.62 6.58 5.70 5.25 43% CLF / TFF 4.76 2.92 3.00 3.00 Total LCR liquid assets 10.38 9.50 8.70 8.25 Customer deposits 3.80 3.
Slide 72: Capital
Capital CET1 peer comparison1 2H20 1H20 2H19 1H19 (%) (%) (%) (%) 11.4% 10.8% 10.8% 10.7% Common Equity Tier 1 9.25% 9.00% 8.92% 8.76% 9.8% 9.3% 9.0% Additional Tier 1 2.40% 2.40% 2.39% 2.39% Major 1 Major 2 Major 3 Major 4 Regional 1 BEN Regional 2 Tier 1 11.59% 11.40% 11.31% 11.15% 2 S&P RAC Ratio
Slide 73: Great Southern
Great Southern Great Southern portfolio1 $m # 80 800 • Great Southern portfolio continues to contract and is adequately provisioned 60 600 • Portfolio now represents less than 0.1% of total group loans 40 400 71.0 60.3 20 200 28.0 22.5 20.2 0 - Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Balance (LHS) Borrow
Slide 74: Reconciliation
Reconciliation 1 Cash earnings after tax (subtotal) is equal to cash earnings before Homesafe realised income 74
Slide 75: Analysts and Media contacts
Analysts Karen McRae Head of Investor Relations T: +61 3 8414 7060 M: +61 417 186 500 E: karen.mcrae@bendigoadelaide.com.au Alex Hartley Manager Investor Relations T: +61 8 8300 6290 M: +61 478 435 218 E: alex.hartley@bendigoadelaide.com.au Media Simon Fitzgerald Head of Public Relations T: +61 8 83
Slide 76: Disclaimer
This document is a resentation of general bac ground information about the rou ’s activities current at the date of the resentation. It is information in a summary form and no representation or warranty is made as to the accuracy, completeness or reliability of the information. It is to be read in c
Bendigo & Adelaide Bank — FY2020 Earnings Presentation on 6ix