Elders Rural Bank yesterday reported an improved profit for the December quarter, with an increase in the return on equity and the return on assets.Net profit for the agribusiness bank increased 15 per cent to $22.4 million for the half year, equal to ROE of 13 per cent and an ROA of 0.9 per cent.The profit is a little higher than suggested by Futuris (one of the bank's two owners) in a market briefing in early December. Elders Rural Bank is a joint venture between Bendigo and Adelaide Bank and Futuris.The bank's efforts over the last year or two to attract more retail deposits, and to target urban customers, appear to be paying off. Deposits increased by 18 per cent to $3.4 billion while loans under management increased nine per cent to $3.7 billion.The extended dry spell in southern Australia has not harmed the bank's earnings, though loan losses charged to the profit and loss statement increased fivefold to around $2 million.