Bank of Queensland hits 2-week high on HY profit rise, positive outlook

Bank of Queensland

16/04/2025 05:31

Updates

** Bank of Queensland BOQ.AX rises as much as 5.9% to A$6.880, highest since April 2

** Lender reports H1 statutory net profit after tax (NPAT) of A$171 mln ($108.3 mln), a 13% y/y rise

** BOQ expects "step up" in H2 headline margin

** Analysts at UBS say bank's cash NPAT results are in line with estimates, with improvements in net interest margin

** Brokerage sees BOQ benefit from portfolio mix changes and digital rollout

** UBS maintains "sell" rating, A$6.50 price target

** Co to pay interim dividend of 18 AU cents/share

** BOQ down ~3% YTD

($1 = A$1.5793)

 (Reporting by Rajasik Mukherjee and Kumar Tanishk in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))