Bank of Queensland Ltd (BOQ.AU) shares are soaring 5.08% in Wednesday's intraday trading following the release of its impressive half-year financial results for fiscal year 2025. The regional lender reported a significant increase in profits and announced a higher dividend, surpassing market expectations.
The bank's statutory net profit after tax jumped 13% to AU$171 million, while cash earnings after tax rose 6% to AU$183 million. BOQ maintained a stable net interest margin of 1.57% and successfully reduced operating expenses by 1%. The strong performance was further highlighted by a cash return on average equity of 6.2% and a robust common equity tier 1 ratio of 10.87%.
In a move that has pleased investors, the bank's board declared an interim fully franked dividend of 18 cents per share, up from 17 cents in the previous period. CEO Patrick Allaway emphasized the bank's progress in transforming into a simpler, more customer-focused digital bank, which appears to be resonating well with the market. The positive results and strategic direction have fueled investor confidence, driving the stock's significant upward movement today.
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