(19 June 2006 – Australia) Bank of Queensland has notched up a double ton following the opening of three new branches.The bank has opened the doors on new owner-manager branches in Coffs Harbour, Bankstown and Erina in New South Wales.
BOQ managing director David Liddy said the bank had more than doubled its branch network in less than five years. In 2001, the bank had 93 branches in total, all located in its home state.
“We have come a long way in a short time, and the future looks very strong as the branch network is supported by our fast growing Business Banking division and underpinned by competitive products and a national BOQ branded ATM fleet of more than 2200 machines,” he said.
Liddy said another 15 branches would open before the end of August 2006.
“BOQ has continued on track with its interstate branch expansion, maintained margins while growing revenue through strong increases in lending and deposits,” he said.
“We are now seeing clear signs that a service-focused Bank with a sales driven model and expanding footprint can make strong profits in an extremely competitive market,” Liddy said.