Bank of Queensland Limited · ASX:BOQ
Bank of Queensland — Corporate Update (March 2006)
20 slides from Bank of Queensland's corporate update, Mar 31, 2006
Slide 1: AIFRS Update
Bank of Queensland AIFRS Update 31 March 2006
Slide 2: Background
Background From 1 September 2005, the Bank must comply with the Australian equivalents to International Financial Reporting Standards (“AIFRS”) as issued by the Australian Accounting Standards Board for reporting periods commencing on or after 1 January 2005. The Bank’s financial statements for the
Slide 3: Introduction
Introduction In particular, the impacts of AASB 139 Financial Instruments: Recognition and Measurement and AASB 132 Financial Instruments: Disclosures and Presentation are not reflected in the 2005 comparatives. As the Bank’s 2005 statutory comparative disclosures will not include all AIFRS standard
Slide 4: Contents
Contents AIFRS Half-Year Ended 28 February 2005: Condensed Consolidated Income Statement Condensed Consolidated Balance Sheet Retained Earnings Reconciliation Explanations - AIFRS Standards Effective from 1 September 2004 Explanations - AIFRS Standards Effective from 1 September 2005 AIFRS Half-Year
Slide 5: Half-Year Ended 28 February 2005
Half-Year Ended 28 February 2005
Slide 6: Condensed Consolidated Income Statement, half-year ended 28 February 2005
Condensed Consolidated Income Statement for half-year ended 28 February 2005 AGAAP Statutory AIFRS Adjustments ($m) AIFRS $m Share Based Intangible Impairment $m Payment Consolidation Leases Assets AASB 2 AASB 127 AASB 117 AASB 138 AASB 136 (1) (2) (3) (4) (5) Interest income 335.0 65.3 400.3 Less:
Slide 7: Condensed Consolidated Balance Sheet as at 28 February 2005
Condensed Consolidated Balance Sheet As at 28 February 2005 AGAAP AIFRS Adjustments ($m) AIFRS $m Share Based Intangible $m Payment Consolidation Leases Assets Impairment Tax Impact AASB 2 AASB 127 AASB 117 AASB 138 AASB 136 Assets (1) (2) (3) (4) (5) Cash and liquid assets 463.1 105.1 568.2 Due fro
Slide 8: Half-year ended 28 February 2005: Retained Earnings
Half-year ended 28 February 2005: Retained Earnings Reconciliation of Retained Earnings as at 28 February 2005 $m Retained Earnings Balance – AGAAP (28 February 2005) 90.2 Adjustment for initial adoption of AIFRS (1 September 2004) • Share Based Payments (0.9) • Leases (5.1) • Tax Impact 1.5 Adjustm
Slide 9: Explanations - AIFRS Standards Effective from 1 September 2004
Explanations - AIFRS Standards: Effective from 1 September 2004 The following AIFRS Standards apply to the Bank’s financial statements from 1 September 2004: Note AIFRS Ref Standard Explanation 1 AASB 2 - Share- The Bank has issued options under the Managing Director Option Plan and the Senior Manag
Slide 10: Explanations - AIFRS Standards Effective from 1 September 2004
Explanations - AIFRS Standards: Effective from 1 September 2004 Note AIFRS Ref Standard Explanation 3 AASB 117 – Under AGAAP, expenses for operating leases are expensed as incurred. Under AIFRS, lease payments under an operating lease shall Leases be recognised as an expense on a straight-line basis
Slide 11: Explanations - AIFRS Standards Effective from 1 September 2005
Explanations - AIFRS Standards: Effective from 1 September 2005 Under AIFRS the following standards apply to the Bank’s financial statements from 1 September 2005, these standards are not applied to the financial statements for the year ended 31 August 2005: Note AIFRS Ref Standard Explanation 6 AAS
Slide 12: Half-Year Ended 31 August 2005
Half-Year Ended 31 August 2005
Slide 13: Condensed Consolidated Income Statement, half-year ended 31 August 2005
Condensed Consolidated Income Statement for half-year ended 31 August 2005 AGAAP AIFRS Adjustments ($m) AIFRS $m Share Based Intangible $m Payment Consolidation Leases Assets Impairment AASB 2 AASB 127 AASB 117 AASB 138 AASB 136 (1) (2) (3) (4) (5) Interest income 378.7 82.7 461.4 Less: Interest exp
Slide 14: Year Ended 31 August 2005
Na Year Ended 31 August 2005 ns bank different® |
Slide 15: Condensed Consolidated Income Statement, year ended 31 August 2005
Condensed Consolidated Income Statement for the year ended 31 August 2005 AGAAP AIFRS Adjustments ($m) AIFRS $m Share Based Intangible $m Payments Consolidation Leases Assets Impairment AASB 2 AASB 127 AASB 117 AASB 138 AASB 136 (1) (2) (3) (4) (5) Interest income 713.7 148.0 861.7 Less: Interest ex
Slide 16: Condensed Consolidated Balance Sheet as at 31 August 2005
Condensed Consolidated Balance Sheet As at 31 August 2005 AGAAP AIFRS Adjustments ($m) AIFRS $m Share Based Consolidation Leases Intangible Impairment Tax Impact $m Payment Assets AASB 2 AASB 127 AASB 117 AASB 138 AASB 136 Assets (1) (2) (3) (4) (5) Cash and liquid assets 530.2 41.4 571.6 Due from o
Slide 17: Year ended 31 August 2005: Retained Earnings
Year ended 31 August 2005: Retained Earnings Reconciliation of Retained Earnings as at 31 August 2005 $m Retained Earnings Balance – AGAAP (31 August 2005) 119.1 Adjustment for initial adoption of AIFRS (1 September 2004) • Share Based Payments (0.9) • Leases (5.1) • Tax Impact 1.5 Adjustment for AI
Slide 18: Interest Margin
Interest Margin Statutory Net Interest Income Margin Analysis - 2005 Half-year ended Half-year ended Full-year ended 28 February 2005 31 August 2005 31 August 2005 AGAAP % % % Interest spread 1.96 2.10 2.03 Capital impact 0.29 0.24 0.27 Interest rate margin 2.25 2.34 2.30 Impact of payment to third
Slide 19: Average Balance Sheet – Half-year ended 31 August 2005
Average Balance Sheet – Half-year ended 31 August 2005 6 Months to 31 August 2005 6 Months to 31 August 2005 Average Interest Average Average Interest Average Balance Rate [a] Balance Rate [a] $m $m % $m $m % Interest earning assets Interest margin and interest spread Gross loans and advances at amo
Slide 20: Queensland
Queensland bank different —— bank different® |