Adelaide confirms earnings forecast 03 October 2007 4:05PM Ian Rogers Jamie McPhee, managing director of Adelaide Bank, said he could "see no reason to revise our previous earnings guidance for the 2008 financial year".McPhee, in an interview with Corporate File, said "while the volatility in global credit markets has increased the average cost of funding across the group, we have actively managed these trading conditions."He said credit quality improved in the September quarter and that the bank's levels of 90-day arrears in the mortgage portfolio fell in July and August. He said this was the lowest level since December 2005. McPhee said despite the volatility in the equity markets there have been no credit losses in the margin lending portfolio, all margin calls were being met, and the loan to valuation ratio of the portfolio remains low.