Blue Chip ASX Banks Smashing New Highs

While the ASX Bank stocks have largely performed well, two high quality dividend paying stocks belonging to leading Australian banks have reached new highs. These top growth stocks are

Bendigo and Adelaide Bank Limited (ASX: BEN)

Bendigo and Adelaide Bank Limited (ASX: BEN) has entered the new Financial Year, building on significant transformations over the past 12 months. The bank’s capital levels remain robust, with a Common Equity Tier 1 ratio of 11.32%, well above regulatory requirements. For FY24, the bank posted cash earnings of $562 million and a return on equity of 8.18%, despite a weaker first half. They also achieved a 3.3% increase in dividends for shareholders. This growth comes alongside a strong focus on efficiency, with cost growth, excluding investment, kept below inflation. A key achievement was reducing the number of customer-facing brands and core banking systems, as well as dramatically improving home loan application approval times.

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