BoQ shares surge on earnings surprise but rough road ahead
Bank of Queensland shares have surged on their best day on the sharemarket in nearly 18 months after the regional lender beat half-year earnings forecasts, despite chief executive Patrick Allaway warning that it could still fall short of a turnaround target.
Railing against an “unfair playing field” that stopped regional lenders from seriously competing with bigger banks, Mr Allaway said profit pressures at BoQ meant the bank had to consider “additional ways” to improve shareholder returns.
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