Bank of Queensland Limited (ASX:BOQ) has increased its first half profit and announced a $440 million acquisition. The Brisbane based regional lender boosted its net profit by 34 per cent to $134.7 million as cash earnings grew 17 per cent to $140.2 million.
Managing Director and CEO Stuart Grimshaw says the bank is making good progress in the delivery of its strategy.
Bank of Queensland has also today announced it will acquire Investec Australia’s specialist finance and leasing business.
The bank has gone into a trading halt as it launches a $400 million entitlement offer to partially fund the purchase.
