Brief: Bank Of Queensland Announces Sale Of New Zealand Asset Portfolio

Bank of Queensland

01/02/2024 22:32

Feb 2 (Reuters) - Bank of Queensland Ltd  BOQ.AX :
    * BOQ ANNOUNCES SALE OF NEW ZEALAND ASSET PORTFOLIO
    * HAS AGREED TO SALE OF ITS NEW ZEALAND PORTFOLIO OF ASSETS
TO UDC
FINANCE LIMITED
    * PORTFOLIO SIZE WAS NZ$238 MILLION
    * SALE AGREEMENT PROVIDES FOR SALE OF PORTFOLIO AT 91% OF
BOOK
VALUE
    * DEAL TO RESULT IN INDICATIVE POST-TAX STATUTORY LOSS ON
SALE OF
A$17 MILLION TO A$20 MILLION RECOGNISED IN 1H24
    * COMPLETION OF TRANSACTION IS EXPECTED TO OCCUR IN 2H24
    * UPON COMPLETION DEAL EXPECTED TO BE BROADLY NEUTRAL TO
BOQ'S
COMMON EQUITY TIER 1 CAPITAL RATIO

Source text for Eikon:  ID:nASX5Y9W6v 
Further company coverage:  BOQ.AX 

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