Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Lending growth drives strong results for BoQ

Staff Reporter 1 minute read

The Bank of Queensland (BoQ) yesterday delivered a net profit of $65.3 million for the first half of the 2007/08 financial year.

Total housing loans under the bank’s management, before collective provisions, rose by 52 per cent from the prior corresponding period to $11.1 billion.

Managing director David Liddy said that business banking, in particular equipment financing, debtor finance and the SME sectors had all continued to outperform the market.

“We have had 31 per cent growth in the business loans portfolio compared to the first half last year,” he said.

Describing the bank’s asset quality as ‘pristine’ Mr Liddy said the BoQ’s bad exposures were limited, with only 59 connections with exposures over $10 million.

Advertisement
Advertisement

Moving forward, the bank will continue to focus on diversification of funding sources, which it said had been key to maintaining healthy liquidity.

“We are focusing heavily on accelerating our retail deposits...[and] we continue to diversify our wholesale borrowing, accessing across the inter-bank market, securitisation, short- and long-term senior debt and domestic and offshore markets,” Mr Liddy said.

Published: 11-04-08

Lending growth drives strong results for BoQ
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
arrow up increase ta Major bank hikes fixed rates amid turnaround time debacle

A big four bank has announced that it has increased its fixed rat...

parliament house ta Government overstates JobKeeper uptake

A “reporting error” identified by Treasury and the ATO has re...

meeting top view ta Loan Market sees surge in repricing enquiries

While refinancing has been rising recently, Loan Market’s execu...

FROM THE WEB