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Bank of Queensland Limited (ASX:BOQ)

ALERT: Price-sensitive ASX Announcement for BOQ
Current share price for BOQ : $6.700 0.01 (0.15%)+
Announcement
Release
1 May 2026 3:47PM
Price at Release
$6.690
Full Release
download
Summary
Bank of Queensland Limited (BOQ) has completed the sale of its whole-of-loan equipment finance portfolio to Challenger Limited, involving $3.62 billion of assets. This transaction is a significant step in BOQ's strategy to streamline its operations and enhance returns. The proceeds will be utilized to reduce funding needs and, pending regulatory and board approval, may be returned to shareholders via an on-market buyback and a fully franked special dividend. The sale resulted in a statutory loss of $31 million for the first half of the financial year, with an expected total expense of $52 million to be recorded in the 2026 financial statements.
Key Points
  • BOQ completed the sale of a $3.62 billion equipment finance portfolio.
  • Transaction aligns with the bank's transformation strategy.
  • Proceeds expected to reduce funding requirements and allow shareholder returns.
  • Statutory loss of $31 million recorded in the first half of the year.
  • Expected total expense of $52 million to be recorded in 2026 financials.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.