Australia's Bank of Queensland slips on bleak outlook, results

Bank of Queensland

11/10/2023 24:31

** Shares of Australia's Bank of Queensland  BOQ.AX  fall 4%
to A$5.550
    ** Stock set to mark worst day since May 31 if current
losses hold  
    ** Co sees increasing risk into FY24 due to elevated cost of
living and sustained higher interest rates
    ** Says revenue and margin pressure to continue in FY24 from
slower credit growth and competition
    ** Adds profit for the year attributable came in at A$124
million, down 70% compared with last year's profit 
    ** As of last close, stock had fallen 16.2% this year

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))