Page 2 - Patrick Allaway News Today

By Stuart Condie SYDNEY--Bank of Queensland's disappointing annual earnings and lending margins were affected by challenging economic conditions rather than...

A goodwill impairment, remedial and restructuring costs have smashed the full year profit of Bank of Queensland.

By Stuart Condie SYDNEY--Bank of Queensland cut its dividend after its annual profit tumbled about 70% amid sluggish mortgage lending and more than 300...

While Bank of Queensland has made no secret of its plans to integrate the back-end systems of its stable of customer-facing brands, new details have emerged this week about the overhaul of the ME Bank business.

Bank of Queensland has become the latest bank to reduce its staff ahead of revealing its results next month.

In an all-staff memo seen by AFR Weekend, CEO Patrick Allaway says chief operations officer Paul Newham has retired.

Following the surprise departure of George Frazis last year, the Bank of Queensland has discontinued its CEO search and named a permanent successor.

A sell-off in the materials sector sent the benchmark ASX/S&P 200 Index down 63.1 points at the close, or 0.9 per cent, to 7277.

“There is a process to play out there, and I don’t think it is appropriate to while that process is in place,” Bendigo boss Marnie Baker said.

Bendigo & Adelaide Bank has made good progress on costs and returns. But as loan growth shrinks, scams rise and inflation keeps pushing higher, scale counts.