Bank of Queensland’s business banking chief Chris Screen has quietly quit the regional lender in the midst of turnaround efforts that were focused on growing his division over a less profitable retail operation.

BoQ has struggled to make inroads against its larger rivals and has been rocked by executive turmoil and long-running risk management issues. But the bank, led by its former chairman and now chief executive Patrick Allaway, has hoped business banking will be one way of turning around its fortune. Business banking is more profitable than mortgages.