2310 GMT - Bendigo and Adelaide Bank's 3Q update reassures Morgan Stanley, given its 1H result in February had been disappointing. While the lender's quarterly revenue missed MS's forecast due to a decline in non-interest income, this was offset by better expenses. Reflecting on Bendigo and Adelaide Bank's 1H result, analyst Richard E. Wiles said it had raised renewed concerns about management's ability to handle the volume/margin trade-off and contain near-term cost growth. "With this in mind, the flat 3Q margin and lower costs are reassuring," MS says. It retains an equal-weight call on Bendigo and Adelaide Bank. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 25, 2025 19:10 ET (23:10 GMT)
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