BOQ's Transformation Looks to Be Tough Going -- Market Talk

Dow Jones04-18

2345 GMT - Bank of Queensland has a range of competing pressures, including addressing structural disadvantages via a digitization and simplification program, and while it's making some progress, Jefferies analyst Matthew Wilson views it to be "tough going." In a note, he says much of the Australian regional lender's upside hinged on interest rate cuts, which look to be delayed. On BOQ's 1H FY 2024 results, Wilson says it met expectations at the core profit level, with its cash earnings beating expectations by around 7% on lower than forecast bad debts. He sees the results as "low quality." (alice.uribe@wsj.com)

(END) Dow Jones Newswires

April 17, 2024 19:45 ET (23:45 GMT)

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