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BENDIGO AND ADELAIDE BANK LIMITED

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Delayed Australian Stock Exchange  -  10:45 2022-08-14 pm EDT
9.900 AUD   -8.16%
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Bendigo and Adelaide Bank : Three more Bendigo Bank Branches switch to solar

06/24/2022 | 08:06pm EDT

Bendigo Bank Branches at Ballarat West, Benalla and Coffs Harbour are all now soaking up the sun's rays thanks to recent solar panel installations completed last week.

The panels, which are Australian made for Australia's harsh conditions by Tindo will help the Bank to reduce its carbon footprint and energy consumption.

The installation of the solar panels at each of the three branches is an integral part of the Bank's stated commitment to purchase 100 percent renewable energy by 2025 and reduce absolute emissions by 50 percent by 2030.

Bendigo and Adelaide Bank's Managing Director, Marnie Baker, said the installations are an important addition to the bank's long-standing green credentials and adds to the list of branches around the country now taking advantage of solar panels.

"Putting our customers first is in our DNA here at Bendigo and Adelaide Bank - not only with their banking needs - but also in contributing to a more sustainable future for future generations," Ms Baker said.

"At the end of the last financial year, 30 Bendigo Bank branches across Australia used energy derived from solar power. We now have a total of 49 branch and office locations benefiting from solar panels, with further installations scheduled between now and the end of the year.

"The installation of these solar panels at our fantastic Ballarat West, Benalla and Coffs Harbour Branches are an example of our long-term commitment to sustainability, reducing our carbon and environmental footprint, improving our resilience, and better understanding the dependencies we have on the natural environment.

"Initiatives such as these are aligned with our longstanding purpose of feeding into the prosperity of the community, not off it," Ms Baker concluded.

Tindo Solar Chief Executive Officer, Shayne Jaenisch, said the Adelaide-based business fully supported Bendigo and Adelaide Bank's renewable energy commitment to source 100 per cent of its power needs from renewables by 2025.

"As Australia's only manufacturer of solar panels, we're proud to be associated with Bendigo Bank's rollout of solar energy systems through its regional branches, and by using Tindo Solar panels the bank is supporting Australian jobs and innovation.

"Bendigo Bank was Australia's first significant bank to have an environment-friendly lending policy," said Mr Jaenisch.

"Bendigo Bank is supportive of businesses in the renewables industry, and the bank financed Tindo Solar's new $11.5 million factory that is currently producing some of the world's most efficient solar panels."

Mr Jaenisch said the Tindo Solar panels made in Mawson Lakes, South Australia, were built for reliability, safety, and performance under Australian weather conditions.

Bendigo and Adelaide Bank customers can also play their part in reducing emissions by applying for a Green Personal Loan with the Bank.

For more information on Bendigo and Adelaide Bank's Green Personal Loans, visit: https://www.bendigobank.com.au/personal/loans/green/ and https://www.bendigobank.com.au/personal/loans/unsecured-green/

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Bendigo and Adelaide Bank Limited published this content on 26 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 June 2022 00:05:02 UTC.


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Financials
Sales 2022 1 744 M 1 239 M 1 239 M
Net income 2022 533 M 379 M 379 M
Net Debt 2022 - - -
P/E ratio 2022 12,6x
Yield 2022 4,97%
Capitalization 6 025 M 4 280 M 4 280 M
Capi. / Sales 2022 3,46x
Capi. / Sales 2023 3,25x
Nbr of Employees 4 575
Free-Float 99,6%
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Technical analysis trends BENDIGO AND ADELAIDE BANK LIMITED
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TrendsBullishNeutralBullish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 10,78 AUD
Average target price 10,31 AUD
Spread / Average Target -4,40%
EPS Revisions
Managers and Directors
Marnie A. Baker Group Managing Director & Executive Director
Andrew Robert Morgan Chief Financial Officer
Jacqueline Cherie Hey Chairman
Bruce Speirs Chief Operating Officer
James Thomas Hazel Independent Non-Executive Director