Australia's Bank of Queensland sinks most in 6 years on weak HY profit, Jefferies flags pricing pressures

Bank of Queensland

22/04/2026 05:36

Updates

** Shares of Australia's Bank of Queensland BOQ.AX fall as much as 9.7% to A$6.565, biggest intraday pct drop since March 23, 2020

** Stock touches lowest level since January 21

** UBS says results modestly below consensus, client activity and underlying trends shifted through March

 ** Jefferies flags pricing pressures, weakening demand for housing loans

 ** Jefferies says co takes up bad debts, faces increased costs

** Regional lender posts H1 statutory net profit after tax of A$136 million ($97.39 million), down 20% from last year

** Says consumer, business confidence continue to be weighed down by elevated inflation, others due to uncertainty stemming from Middle East conflict

** Expects continued competition for both lending, deposits

** Avg rating from 13 analysts suggest "hold"; their median PT is A$6.45, LSEG-complied data shows

** YTD, stock up 1.5%

($1 = 1.3965 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))