Bank of Queensland Shows Profit Growth Amid Strategic Shifts

Bank of Queensland Limited (AU:BOQ) has released an update.

Bank of Queensland Limited has reported a statutory net profit of $285 million for FY24, a significant increase from the previous year, despite a competitive lending environment and increased expenses. The bank’s strategic focus on higher-returning business lending and digital transformation is yielding positive results, as evidenced by a 1% rise in customer deposit balances, largely fueled by digital deposits. A final dividend of 17 cents per share has been declared, reflecting the bank’s commitment to rewarding shareholders.

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