Bank of Queensland falls to 3-yr low on entering into regulatory undertakings

Bank of Queensland

31/05/2023 06:07

(Updates share moves, milestones and volume)
    ** Shares of Bank of Queensland  BOQ.AX  fall as much as
7.4% to A$5.350, their lowest since June 3, 2020
    ** Stock posts biggest intraday decline since Sept. 29, 2020
    ** Lender enters into separate undertakings with Australia's
financial crime agency AUSTRAC and prudential regulator APRA
    ** APRA has added A$50 mln to co's operational risk capital
requirement
    ** Undertakings with AUSTRAC and APRA to ensure compliance
with anti-money laundering and counter-terrorism financing laws
and address risk governance practices
    ** Says key terms of the undertaking submitted to APRA
include the preparation of a remedial action plan and
appointment of an independent reviewer
    ** BOQ top loser in ASX 200 benchmark index  .AXJO 
    ** More than 9.3 mln shares change hands vs 30-day average
volume of ~4.5 mln shares
    ** Stock down 16.2% so far this year

 (Reporting by Himanshi Akhand and Harish Sridharan in
Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))