Bank branch reports sixth consecutive profit
An Ettalong bank branch has declared an operating profit for its sixth consecutive year.
"Ettalong Beach Bendigo Bank recently held its 12th annual general meeting and was able to report its sixth consecutive operating profit despite difficult economic conditions," said the bank's director Mr Ken Dixon.
According to Mr Dixon, from a revenue base of $750,000, the bank made an after-tax profit of $64,600, up from the 2015 profit of $46,600.
"This allowed the Bank to pay a dividend of seven cents in the dollar to shareholders," Mr Dixon said.
"The Bank was able to deliver its fourth consecutive dividend to shareholders with the latest dividend of seven cents in the dollar being a great result," Mr Dixon said.
"Over the past 12 years, Ettalong Bendigo Bank has returned more than $460,000 to the local community and has provided dividends of $86,000 to shareholders," he said.
"We now support over 45 local organisations including football clubs, netball clubs, surf clubs, bowling clubs, cricket clubs, welfare groups, virtually everyone on the Peninsula who is attempting to keep our vibrant community going.
"Expenses for the year included $46,700 for charitable donations and sponsorships for community organisations including the bowling clubs on the Peninsula, Ettalong and Peninsula Men's Shed, Central Coast Kids in Need, Mary Mac's, Umina and Ocean Beach Surf Clubs, Umina, Woy Woy and Ettalong Soccer Clubs, Umina and Ettalong Netball Clubs, Southern Spirit Cricket Club, Woy Woy Rugby Union Club and many more," he said.
"The Bank has net assets of $296,000 as of 30 June 2016.
"The Bendigo Bank at Ettalong Beach has a hardworking board of directors led by chairman Mick Gage and a great group of staff led by experienced manager Peter McKeon who will do all they can to support their customers' banking needs," he said.
The bank has recently undergone a major renovation and has invited the public to have a look at its refreshed facilities.
"Bendigo Bank at Ettalong offers all the services of the other banks.
"It offers friendly customer service and gives back to our community in so many ways," he said.
Media release, 20 Nov 2016
Media statement, 9 Dec 2016
Ken Dixon, Bendigo Bank Ettalong Beach