BOQ delivers strong balance sheet
The Bank of Queensland (BOQ) has had a solid twelve months, with its growth strategy delivering an underlying profit surge of nine per cent, to $521.7 million.
The bank recorded increases across the balance sheet, with its cash earnings after tax grow 20 per cent in the year to August 31, 2014 to $301.2 million.
Its operating expenses were also up eight per cent, which it says is largely explained by investment in frontline capabilities and the expansion of its Brisbane and Sydney headquarters.
It said its key over the next 12 months will be bolstering newly-acquired BOQ Specialist and tackling "subdued" business opportunities in the banking sector.
The bank also hinted it could reduce its presence in the slower growth, "over-represented" Queensland market.
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
