Bank of Queensland Limited
(ASX:BOQ) has boosted its half year net profit by 37 per cent to $100.5 million, recovering from a $90.6 million loss a year earlier.
The regional bank lifted its cash profit by 16 per cent to $20 million on the back of asset re-pricing and a re-focusing on their deposit structure.
CEO Stuart Grimshaw says the bank is in a good position to further build on sustainable and profitable growth, with last year’s asset quality review resulting in a stronger portfolio.
Mr Grimshaw said despite the profit increase, global economic instability continues to challenge confidence and sentiment in the domestic economy and is likely to continue to impact consumer and business confidence in the months ahead.
BOQ will pay shareholders a fully franked 28 cent dividend, up 2 cents on its previous shareholder payout.
