BENDIGO and Adelaide Bank job losses in the city have been proportionate with those across Australia, according to the business's managing director.

The bank dropped a net 247 full time equivalent positions in the first half of 2020-21.

Managing director Marnie Baker said the net drop included some redundancies, other adjustments, vacancies not filled, and staff who had remained with businesses the bank had exited.

First half results for 2020-21 show the Bendigo Bank profits up 67.3 per cent to $243.9 million, while cash earnings after tax were up 1.9 per cent to $219.7 million.

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Ms Baker said making sure the business was efficient and future ready would be part of its operating model into the future, as it responded to changing customer preferences.

"They've always been there as they are in all businesses, it's probably because the size of it is more noticeable than we've had before," she said.

"We have done this sort of thing before, where you are needing to change the skills or change the way you're operating in a business."

Ms Baker said the bank would continue to transform to drive sustainable growth, manage costs and deliver a multi-channel customer experience.

She pointed to changes to simplify technology, consolidate core systems and automate manual processes.

Read more: Mitchell Street Bendigo Bank branch to be transformed

Ms Baker said changes such as automation would free up staff to better engage with customers.

The interim results also showed a net reduction of 12 branches across the bank's network, which Ms Baker attributed to consolidation of those close by to each other in response to changing customer habits.

She said the skills needed in branches were now more related to advice, as people completed most of their transactions online.

Earlier

The Bendigo and Adelaide Bank reported on Monday morning that its cash earnings and net profit were up over the first half of the financial year.

Cash earnings were up 1.9 per cent on the same period last financial year, while net profits jumped significantly - up 67 per cent to $243.9 million.

"Our results demonstrate the strength of our strategy, business model and ability of our people who moved quickly and acted with care to support our customers and their communities," managing director Marnie Baker said.

"We also continued to support customers through COVID-19, while playing our important role of providing credit to support the economy.

"Deferrals significantly reduced from their peak in May, including in Victoria, and our strong capital position ensures we are well positioned to manage through the pandemic."

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Bendigo and Adelaide Bank's full year 2020 financial result, published last August, revealed statutory net profit was down 48.8 per cent to $192.8 million, with cash earnings after tax down 27.4 per cent to $301.7 million.

Ms Baker has told shareholders she is positive about the future.

"With business confidence and consumer sentiment up, an ongoing low-rate environment, a growing housing market, an improving jobs market, continued growth in regional Australia, and our customers showing remarkable resilience and adaptability, we are buoyed by the outlook," she said.

"However, we always take a long-term view, and we remain mindful of the global and local impacts of the pandemic, international trade sentiment, decisions on government support measures and the ongoing reality of natural disasters and climate change."