News: Bank of Queensland H1 profit grows

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Bank of Queensland Limited (ASX:BOQ) has posted profit and cash earnings growth over the first half of the 2015 financial year. 

 

The Brisbane based regional lender increased its statutory net profit by 14 per cent to $154 million as cash earnings after tax rose 19 per cent to $167 million. 

 

The result has been attributed to growing momentum in lending growth, strong net interest margin performance and further asset quality improvements. 

 

Managing Director and CEO John Sutton has described the result as solid and believes Bank of Queensland is set up for sustainable growth. 

 

A fully franked interim dividend of 36 cents per share has been declared, rising 13 per cent from the year before.