this headline was corrected at 2300 gmt to reflect that cash earnings are a5004 million the original headline incorrectly said a5504 million sydney bendigo and adelaide bank ltd said its fullyear net profit fell by 69 while its net interest margin also dropped amid heightened competition in the australian mortgage market the australian regional bank on monday reported a net profit of 4881 million australian dollars us34750 million for the 12 months through june down from a5240 million in the previous year driven by unrealized property revaluations in its homesafe portfolio cash earningsthe measure tracked by analysts that adjusts for items the bank considers to be outside its core activitieswere 94 higher at a5004 million which the lender said reflected its focus on cost management bendigo and adelaide bank has delivered continued growth in loans deposits and customer numbers said chief executive marnie baker we have reduced costs and improved our cost to income ratio while maintaining a strong balance sheet and preserving our credit quality bendigos net interest margin fell 21 basis points to 174 on year but the lender flagged that positive impact of rising rates flowing through directors of the company declared a dividend of 265 australian cents per share flat on last year bendigos common equity tier 1 capital ratio a key measure of a banks ability to withstand financial shocks was 968 up 11 basis points and above the prudential regulators unquestionably strong benchmark the company said