This report does not constitute a rating action. MELBOURNE (S&P Global Ratings) April 16, 2025-- Bank of Queensland Ltd. 's (BoQ) ongoing investment in technology transformation and its push into higher-margin lending should support earnings. In our base case, we assume the bank will restore its earnings to levels broadly in line with similarly rated Australian regional banks by the end of 2026. BoQ today reported cash earnings of A$183 million for its fiscal 2025 first half (ended Feb. 28, 2025), a 6% increase from the same period last year. This improvement in profitability was partly due to the bank's digitalization and simplification program, which reduced operating expenses by 1%. The bank continues to recycle capital into higher-margin business lending from
