(19 April 2012 – Australia) Bank of Queensland (BoQ) confirmed yesterday a loss of A$90.6 million for the first half of 2012 due to troublesome property loans.Stuart Grimshaw, BoQ’s Managing Director and CEO said despite the statutory loss, the foundations had now been set for promising organic growth for the bank.
“We’ve maintained discipline in expenditure, bucked the industry trend with improved NIM performance in a tough funding environment and taken a responsible and conservative approach to management of our loan book,” Mr Grimshaw said.
“With a new executive team…we look forward to getting on with the job of delivering our strategy for growth, ” he continued.