2026 Half Year Results

• Cash earnings after tax down 4% to $176 million
• Statutory net profit after tax down 20% to $136 million
• Cash net interest margin up 10 basis points to 1.67%

Bank of Queensland Ltd reported its 2026 half year results, with cash earnings after tax declining 4% to $176 million compared to the prior corresponding period. Statutory net profit after tax decreased 20% to $136 million, impacted by various one-off items including a whole-of-loan equipment finance portfolio sale, branch strategy costs, and hedging and fair value changes. The company's cash net interest margin increased 10 basis points to 1.67%, driven by benefits from the branch conversion to a proprietary network, growth in business banking, and optimisation of funding sources. This was partially offset by ongoing competition in both lending and deposits, as well as a higher proportion of liquid assets.Operating expenses increased 6% to $553 million, reflecting inflation, investment in business bank growth and digital transformation, partially offset by productivity initiatives. Loan impairment expense increased to $20 million, up from $3 million in the prior period, due to the non-recurrence of a commercial lending provision release and a return to more normalised asset finance experience.The company's Common Equity Tier 1 (CET1) ratio improved 24 basis points to 11.18%, above the management target range of 10.25-10.75%. BOQ has determined to pay an ordinary dividend of 20 cents per share, representing 75% of 1H26 cash earnings.

The company did not provide any high-importance, price-sensitive forward-looking financial metrics in the announcement.