Elders Rural Bank

By: EconomyWatch Content   Date: 2 November 2009

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Established as a joint venture between Bendigo Bank Limited and Elders Limited, the Elders Rural Bank caters to the financial and investment needs of customers in Australia’s rural areas. The bank, which was opened in June 2000 after it received an Australian Banking license, was renamed as the Rural Bank Limited in August 2009.

About Elders Rural Bank

The Elders Rural Bank combines the expanding agribusiness network of the Elders Rural Services Australia Limited with the banking expertise, systems capabilities and products of Bendigo and Adelaide Bank. It provides an efficient and cost-effective delivery of investment and financial products to rural and regional Australia.

The Elders Rural Bank has more than 400 outlets across Australia including those belonging to the Elders Rural Services Australia Limited, Bendigo and Adelaide Bank and Bendigo Community Bank branches.  The bank is also an ‘Authorized Deposit taking Institution’ (ADI) and is regulated by the Australian Securities and Investments Commission (ASIC). The bank has been assigned an investment grade rating of A2 for the short term and BBB for the long term by Standard & Poor’s.

The Elders Rural Bank’s strength is reflected in the bank’s 2009 financial results as given below:

  • A 10% growth in the net profit after tax to $45.1 million

  • The cost to income ratio of 27.8%

  • Return on average equity of 14.2%

  • Loans under management of $3.68 billion

  • Total deposits of $3.75 billion

About Services and Products Offered by Elders Rural Bank

The Elders Rural Bank provides various financial products and services such as:  

  • Visa debit cards

  • Check accounts

  • Direct debit and credit facilities

  • Phone and Internet banking

  • Access to the ATMs worldwide and EFTPOS networks

The Elders Rural Bank has specifically developed its wide range of deposit products for rural customers wanting to:

  • Earn attractive interest

  • Enjoy bank security on the invested funds

  • Obtain easy access to the funds

The Elders Rural Bank does not have direct exposure to the US sub-prime mortgage market or to the overseas financial markets. The bank follows a conservative approach while investing in customer funds. It makes all the investments within Australia as:

  • Cash investments in Australian ADIs

  • Loans to primary producers

The Elders Rural Bank is poised to emerge as Australia’s most trustworthy bank spanning the country’s rural and regional banking sector.


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