Strong capitalization Low risk lending book dominated by housing loans Future business growth susceptible to competitive pressures from Australia's major banks Weaker capacity to source funding in a stressed operating environment The stable outlook reflects S&P Global Ratings' view that the Bank of Queensland Ltd. (BoQ) has a defendable business position in the highly competitive Australian retail banking market. This position is reinforced by BoQ's successful execution of a multichannel distribution strategy over the past few years, which has reduced its geographic concentration to Queensland. The stable outlook also reflects the bank's strong capitalization, and its low-risk lending book that is dominated by housing loans supporting the bank's asset quality at a level consistent with that of the Australian banking
