AdBank profit up 24%.(Adelaide Bank Ltd.)(Brief Article)

Australasian Business Intelligence, February, 2005

Feb 03, 2005 (The Courier-Mail - ABIX via COMTEX)

Australian-listed Adelaide Bank has posted an interim net profit of $A36m, which is 24 per cent higher than previously. The Adelaide-based financial group's MD Barry Fitzgerald anticipates that full-year profit will be at least 10 per cent higher than previously. Adelaide Bank recorded eight per cent growth in retail deposits, while loans rose by four per cent and funds under management increased by 23 per cent, to $A17.4bn. Adelaide Bank's shares peaked at $A11.50 on 3 February 2005, but finished the day $A0.12 weaker at $A11.25.

Publication Date: 4 February 2005

ADELAIDE BANK LIMITED - ASX ADB: 

TAYLOR COLLISON LIMITED

By Meredith Booth

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