Bank of Queensland Limited (ASX:BOQ) Announces 1H25 Results
Financial Performance
Bank of Queensland Limited reported a 6% increase in cash earnings to $183 million and a 13% rise in statutory net profit after tax to $171 million for the half year ended 28 February 2025, reflecting a 40 basis point improvement in return on equity compared to the prior period.
Operational Achievements
The bank maintained stable margins by focusing on return over growth and advancing its transformation into a scalable, low-cost digital bank. BOQ successfully completed the branch conversion on 1 March 2025, decommissioned 22 systems, and achieved a 5% reduction in operating expenses. Approximately 140,000 customers have migrated to the digital platform, contributing to $9.1 billion in deposits.
Dividend Declaration
BOQ declared a fully franked interim dividend of 18.0 cents per ordinary share, supported by the Dividend Reinvestment Plan (DRP), which is expected to be fully satisfied through on-market share purchases.
Future Outlook
The bank remains financially resilient with strong capital, liquidity, and asset quality to navigate increasing macroeconomic uncertainties. BOQ continues to support its customers and communities while driving strategic transformation milestones.
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