Bendigo and Adelaide Bank (ASX:BEN) shares decline approximately 1.8% to A$9.130, marking lowest record since July 17.

The Australian bank discloses the impairment of certain software intangible assets and additional non-cash restructuring costs.

Indeed, these modifications will trigger a non-cash expense of A$60.8 million post tax, impacting its FY23 profit.

As a result, Bendigo and Adelaide Bank (ASX:BEN) is anticipated to face loss for the third consecutive session, if current trend maintains.

Earlier this year, the bank’s stock has dropped 6.6% contrasted to a 0.6% rise in the ASX 200 Financials index.

Bendigo and Adelaide Bank is a prominent banking and financial service provider in Australia.