You are using an older browser version. Please use a supported version for the best MSN experience.

Bank of Queensland $174m half-year profit boosted by home lending growth

ABC Business logoABC Business 17/04/2018
a sign above a store: Bank of Queensland's half year profit was up, but below market expectations. © ABC News/Nic MacBean Bank of Queensland's half year profit was up, but below market expectations.

Bank of Queensland has reported an 8 per cent increase in net profit to $174 million, driven by higher lending in both property and business markets.

Cash earnings — the bank's preferred measure which strips out one-off items — was up 4 per cent to $182 million, but below market expectations.

Mortgage lending rose 3 per cent, or $382 million, compared to a year ago and growth was slightly higher than the average increase across the banking sector.

Business lending was up by 6 per cent, also well ahead of the industry average growth rate.

The interim dividend was maintained at 38 cents per share.

image beaconimage beaconimage beacon