0053 GMT - Bank of Queensland remains in a tough spot, with its 1H FY 2024 results showing a lack of positive catalysts, Macquarie analysts say in a note. They point out that the Australian regional lender needs to cut expenses and improve profitability, while still putting money toward investments for the future. "With capitalization rates well above sector averages, we see headwinds to expense growth over the next few years as BOQ addresses this issue," says Macquarie. Macquarie also sees that BOQ appears to be accepting that it may be difficult to reach its FY 2026 ROE and cost-to-income target. (alice.uribe@wsj.com)
(END) Dow Jones Newswires
April 17, 2024 20:56 ET (00:56 GMT)
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