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Grains and meat drive Elders Rural Bank profit 1 August 2008
Stronger retail deposits and loans helped Elder Rural Bank lift its profit for the year to June 30 by 14 per cent to $41.1 million from $36 million the previous year. Loan under management grew by 12 per cent while total deposits grew 15 per cent. Retail deposits grew 19 per cent. The ratio of non-performing loans to the total loan book improved from 0.36 to 0.33 per cent. Cereals and livestock sectors performed well over the last year said the bank, which is a joint venture between Bendigo & Adelaide bank and Futuris Corp.
