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The Fair Work Commission has approved Bank of Queensland's (ASX:BOQ) new Enterprise Agreement, delivering pay rises, an enshrined 50% work-from-home right, and stronger workplace change and redundancy protections for employees, according to a statement late Thursday from the Finance Sector Union.
An investigation called Operation Claw uncovered potential mortgage fraud involving inflated incomes, misrepresented employment and fabricated or unverifiable business activity used to support loan applications, the Australian Transaction Reports and Analysis Center (AUSTRAC) said in a Wednesday statement.AUSTRAC's Fintel Alliance conducted a joint analysis of data from 10 major Australian banks, identifying potentially hundreds of millions of dollars in suspected fraudulent loans, mostly linked to properties in Sydney in New South Wales.The activity was not limited to one lender or borrower group, and recurring warning signs across the participating banks included falsified or misleading documents as well as the repeated use of mortgage brokers, accountants, and law firms across multiple loan applications.AUSTRAC worked with participating banks to identify controls that lenders can use to prevent, detect, and disrupt mortgage fraud. The lenders used the information generated through the investigation to identify potentially fraudulent loans, investigate suspicious activity, strengthen controls, and make further referrals to the authorities. Some banking relationships have been ended, and further action is expected."The same warning signs were found across banks that together cover the vast majority of Australia's mortgage market," AUSTRAC CEO Brendan Thomas said. "Every lender should be looking closely at these findings and asking whether the same vulnerabilities exist in their own business," he added.The Australian Banking Association did not immediately respond to a request for comments from.
Bank of Queensland (ASX:BOQ) structurally weak deposit franchise leaves it with limited choice among the options on the table, Jarden said in a Monday note.The bank's offloading of AU$3.7 billion in equipment finance loans not only reiterates its structural flaw in deposit-gathering capabilities, but creates a new vulnerability to wholesale funding/capital markets remaining buoyant, the investment and advisory firm said.The bank's decision to return the capital back to shareholders after the sale indicates that the lender has a narrow set of options in internally deploying capital to reinvigorate growth prospects.Its originate-to-sell model is a fair-weather financial tool susceptible to dependence, Jarden added.The investment firm maintained its sell rating and price target of AU$5.50 on Bank of Queensland.Bank of Queensland's shares were down past 3% in recent Tuesday trade.
Bank of Queensland (ASX:BOQ) disclosed a AU$295 million capital return to shareholders, including a fully-franked special dividend and an on-market buy-back of ordinary shares, according to a Monday filing with the Australian bourse.The board declared a fully-franked special dividend of AU$0.15 per share, and the company plans to undertake an on-market share buy-back of up to AU$196 million, the filing said.The special dividend is payable Aug. 24 to shareholders on record as of Aug. 14, per the filing.Shares rose 3% in afternoon trade Monday.
Bank of Queensland's (ASX:BOQ) total capital and Common Equity Tier 1 (CET1) capital both increased year-over-year in the quarter ended May 31, according to a Friday Australian bourse filing.The bank's total capital in the three months to May came in at AU$6.15 billion, up from AU$6.01 billion in the same period a year earlier. Its CET1 capital for the period clocked in at AU$4.47 billion, rising from AU$4.31 billion.As of May 31, the lender's CET1 capital ratio was 11.79%, compared with 10.80% as of May 31, 2025. The bank reported a liquidity coverage ratio of 138.38% for the quarter, compared with 141.21%.
Vicinity Centres (ASX:VCX) said independent non-executive chairman Trevor Gerber intends to retire from the board at the 2026 annual general meeting on Oct. 28, with Patrick Allaway appointed as a non-executive director and chairman-elect effective June 15, according to a Monday Australian bourse filing.The company said Allaway will succeed Gerber as chairman at the conclusion of the meeting, subject to his election as a director by security holders.Allaway is currently a member of the Adobe International Advisory Board, having previously served as chairman of Bank of Queensland (ASX:BOQ) and as a non-executive director of Allianz Australia, Dexus Funds Management, Macquarie Goodman Industrial Trust, and Metcash (ASX:MTS), among others, it added.
Macquarie Group (ASX:MQG) continues to outperform banking majors with a simple and fully digitized platform, according to Jarden in a Thursday note.At this pace, Macquarie may surpass around 10% market share on both sides of the balance sheet in the near term. Commonwealth Bank of Australia's (ASX:CBA) net interest margin edge, free deposits look tenuous with IT and competition from Macquarie, ANZ Group Holdings (ASX:ANZ, NZE: ANZ), National Australia Bank (ASX:NAB), and potentially, stablecoins. Strong volumes are offset by competition.Jarden considered the fiscal year 2026 Australian budget as changing incentives, increasing complexity, and exacerbating the skew to financialization over increasing physical industrial capacity.High valuations reflect market index concentration and disappointment in other sectors, but expose major banks to abrupt and extreme mean reversion if the status quo changes.The investment firm assigned ANZ Group an overweight rating and price target of AU$35.50 per share. It also has sell ratings on Commonwealth Bank, National Australia Bank, and Westpac Banking (ASX:WBC, NZE:WBC) with price targets of AU$90 per share, AU$29 per share, and AU$31 per share, respectively.It also assigned Macquarie a buy rating with a price target of AU$250 per share, Bendigo and Adelaide Bank (ASX:BEN) a neutral rating with a AU$11 per share price target, Bank of Queensland (ASX:BOQ) a sell rating with a price target of AU$5.50 per share, and Judo Capital Holdings (ASX:JDO) a buy rating with a price target of AU$2.50 per share.
Bank of Queensland (ASX:BOQ) has an average rating of underweight and mean price target of AU$6.27, according to analysts polled by FactSet.
Bank of Queensland (ASX:BOQ) is reeling from an "extremely challenged" near-term outlook following weaker-than-expected fiscal 2026 first-half results, Jefferies said in a note on Wednesday.The investment firm lowered its fiscal 2026 and 2027 EPS estimates by 3% due to higher costs and increased provisions after the bank reported a 4% decline in half-yearly cash earningsJefferies said management might be overstating the impact of its new capital partnership with Challengers, adding that it expects it will be hard to lift returns to cost-of-capital levels. However, the deal should provide a positive tailwind to the company.The bank's loan book remains in run-off amid a sluggish housing market, which is not expected to return to growth until fiscal 2027.Jefferies reaffirmed its underperform rating, noting the stock is trading at around a 25% discount to book value, and cut its price target to AU$5.64 from AU$5.76.
Australian shares are poised to fall on Wednesday as oil prices surged on renewed Middle East supply disruption fears, with Brent crude briefly topping $100 a barrel amid escalating Iran-related tensions.Sentiment was further clouded by reports that US President Donald Trump is seeking to extend a fragile ceasefire with Iran despite ongoing naval blockade concerns and mixed signals from Tehran over the prospects for a lasting peace deal.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average each fell 0.6%.In the macroeconomy, Westpac's leading index report is due at 11 am Sydney time.In corporate news, Bank of Queensland (ASX:BOQ) reported Wednesday fiscal first-half cash earnings of AU$0.253 per share on revenue of AU$835 million, compared with cash earnings of AU$0.264 on revenue of AU$802 million a year earlier.BHP Group (ASX:BHP) reported fiscal third-quarter copper production of 476,800 tonnes, down 7% from a year earlier.Paladin Energy (ASX:PDN) reported fiscal third-quarter triuranium octoxide production of about 1.3 million pounds from its Langer Heinrich Mine in Namibia, up 5% from the previous quarter.Australia's benchmark index fell 0.04% or 3.9 points to close at 8,949.40 on Tuesday.
Bank of Queensland's (ASX:BOQ) total capital and Common Equity Tier 1 (CET1) capital both increased year over year in the February quarter, according to a Wednesday Australian bourse filing.The bank's total capital in the three months to February came in at AU$6.21 billion, up from AU$6.08 billion in the same period a year earlier. Its CET1 capital for the period clocked in at AU$4.51 billion, rising from AU$4.37 billion.The CET1 ratio for the February quarter was 11.18%, compared with a ratio of 10.87% in the prior-year period. The bank reported a liquidity coverage ratio of 140.51% for the quarter, compared with 141.84%.
Bank of Queensland (ASX:BOQ) reported Wednesday fiscal first-half cash earnings of AU$0.253 per share, down from AU$0.264 a year earlier.Analysts polled by FactSet expected earnings of AU$0.26.Revenue from ordinary activities for the six months ended Feb. 28 was AU$835 million, compared with AU$802 million a year earlier.Analysts surveyed by FactSet expected AU$839 million.The company has maintained its common equity tier 1 management target range at 10.25% to 10.75%, along with an unchanged dividend payout ratio target of 60% to 75% of cash earnings, while also keeping its cost guidance steady and continuing to expect cost growth from 2025 to 2026 to remain below the rate of inflation.The board declared an interim dividend of AU$0.20 per share, up from AU$0.18 a year earlier, payable May 27 to shareholders on record as of May 5.
Bank of Queensland (ASX:BOQ) is heading into its first-half results with a contracting loan book, modest earnings outlook and lingering questions over strategy, margins and capital following its housing pullback and Challenger partnership, Jefferies said in a Thursday note.Jefferies expects broadly stable half-year earnings, with net interest margin edging down to about 1.7%, cash earnings up 1% to AU$185 million, pre-provision profit rising 9% to AU$298 million, and a AU$0.20 interim dividend.The firm noted that loan growth remains weak, with expectations of a further 2% decline in the loan book in the first half, extending a 6% contraction since the first half of 2023, as the company continues shifting away from housing toward higher-return business lending.The firm said that focus will also be on the capital partnership with Challenger, including sale and forward flow of its equipment finance book, expecting a AU$31 million hit to statutory earnings and seeking clarity on earnings benefits, transaction volumes, and potential cost savings.The firm added that margins and funding remain in focus, with deposit costs still weighing despite softer lending, and flagged deposit growth, pricing, and replicating portfolio benefits as key, while expecting a modest rise in bad debt charges.Jefferies kept an underperform rating on Bank of Queensland with a price target of AU$5.76.
