Briefs: Bendigo sets low margin, ANZ defers wealth briefing, Chaney defend bank profits 02 October 2012 3:00PM Briefs, Bendigo and Adelaide Bank says it has set the margin on its new issue of convertible preference shares at the low end of the range foreshadowed last week. The bank will sell A$200 million in securities. It will use A$89 million of the capital raised to redeem an issue of re-set preference shares. ANZ has deferred a planned briefing on its wealth management business until November 29, the Financial Review reported. ANZ is hosting a briefing on its investment plans (and some product initiatives) this Thursday. Michael Chaney, chair of National Australia Bank, told the West Australian that banks were "not super profitable… The return on equity achieved by the banks, which is the best way of measuring how profitable they are, puts them in the 50th to 60th percentile of the top 50 companies, that is, around the average," he said.