Bank of Queensland is poised to step up its pursuit of relatively higher risk customers such as self-employed borrowers and first-home buyers following its $1.3 billion purchase of Members Equity Bank as demand for credit rebounds.
The acquisition of ME’s $25 billion home loan book of largely owner-occupiers has effectively de-risked BOQ’s portfolio, which was skewed towards Queensland, higher loan to valuation ratio loans and more profitable business borrowers.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
