Bank Of Queensland Disappoints
Following disappointing pre-released interim results, brokers await more detail this coming Thursday
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Following disappointing pre-released interim results, brokers await more detail this coming Thursday
Bank of Queensland Ltd (ASX: BOQ) shares are falling on news of an expected $4 million first-half profit and a $260 million hit.
CEO Patrick Allaway defends the decision to release the information before next Thursday’s results, saying ‘it is appropriate for the stock to trade’.
Bank of Queensland’s mere mention of Home Building Society, a WA lender it bought in 2007, opened an old can of worms and underscored a depressing point for investors.
Bank of Queensland will test the regulator’s resolve to act on banks that recall tier two debt early.