Earnings call transcript: Judo Bank H2 2026 profit jumps as shares rise 9%
Judo Bank reported a significant increase in profit for the second half of 2026, with earnings per share rising 29% to AUD 0.099. The Australian SME lender's full-year profit jumped, driven by stronger lending growth, wider profit margins and tighter cost control. Pre-provision profit surged 42% to AUD 286 million, exceeding original guidance.
Deposits now account for 71% of the bank's total funding, with lending growth funded entirely by deposit growth. The bank's performance reflected a stronger operating model, with operating expenses of AUD 237 million. No direct analyst forecast for FY 2026 EPS or revenue was provided. However, the company's reported performance suggests an operational beat versus management's expectations.
Despite broader market concerns about credit quality in SME lending, Judo Bank's strong results indicate a more optimistic outlook. Management expects continued profitability in FY 2027, with a focus on disciplined growth and investment in technology and banker productivity.
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