Bank of Queensland $174m half-year profit boosted by home lending growth


Posted

April 17, 2018 09:46:38

Bank of Queensland has reported an 8 per cent increase in net profit to $174 million, driven by higher lending in both property and business markets.

Cash earnings — the bank’s preferred measure which strips out one-off items — was up 4 per cent to $182 million, but below market expectations.

Mortgage lending rose 3 per cent, or $382 million, compared to a year ago and growth was slightly higher than the average increase across the banking sector.

Business lending was up by 6 per cent, also well ahead of the industry average growth rate.

The interim dividend was maintained at 38 cents per share.

More to come.

Topics:

banking,

australia



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