...October 12, 2021 MELBOURNE (S&P Global Ratings) Oct. 13, 2021--Lending growth for Bank of Queensland Ltd. (BoQ) should remain strong, backed by its multibrand strategy that targets distinct customer sets across Australia's eastern seaboard. In its full year results presentation today, BoQ (###+/Positive/A-2) announced growth in its housing portfolio 1.7 times that of system, reflecting the bank's recent loan origination improvements, in our view. The bank also announced growth across all its retail banking divisions in fiscal 2021 (ended Aug. 31, 2021). We believe macro-economic conditions for BoQ will remain supportive of future earnings, with asset quality staying sound. The bank announced reduced impairment expenses for fiscal 2021, reflecting lower COVID-19 related credit losses than it originally expected. Positive movements in net interest income, supported by a lower cost of funding, provided further benefit to the bank's earnings. We expect BoQ will maintain its strong capital position...
