Bank of Queensland Limited · ASX:BOQ
Bank of Queensland — Shareholder Meeting (December 2005)
42 slides from Bank of Queensland's shareholder meeting presentation, Dec 8, 2005
Slide 1: BOQ AGM 8 December 2005
BOO AGM 8 DECEMBER 2005 SOFITEL HOTEL, BRISBANEs
Slide 2: Managing Director's Presentation
Managing Director’s Presentation
Slide 3: BOQ: A Great Company
BOQ: A Great Company Our focus is on our key stakeholders: Our Shareholders Our Customers Our Employees Our Community
Slide 4: Innovation, not stagnation
Innovation, not stagnation We have a vision of something different in banking Bank of Queensland has innovated its way to success by confronting the facts head on. We have been counter-intuitive – taken a different path from our competitors and been proved right.
Slide 5: A great company for our shareholders
A great company for our shareholders “As a small investor, Bank of Queensland has offered strong returns over a number of years. It has the benefits of being a Bank stock, but with good growth. ” - Martin Cirino, Eight Mile Plains
Slide 6: Growing Shareholder Value
Growing Shareholder Value Total Shareholder Return Total Shareholder Return on $1,000 invested on 1 September 2001 4 Year TSR of $2,700 27%pa $2,500 $2,300 $2,100 $1,900 $1,700 $1,500 $1,300 $1,100 $900 4 5 1 2 3 2 3 4 5 1 2 2 3 3 4 4 5 5 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 ov ov o
Slide 7: Four years of Asset Under Management Growth
Four years of Asset Under Management Growth $14.3b $12.5b $8.7b $6.6b $5.2b 2001 2002 2003 2004 2005
Slide 8: Four years of record profits
Four years of record profits $92m $65m $45m $29m $24m 2001 2002 2003 2004 2005
Slide 9: Four years of dividend growth
Four years of dividend growth 15c 48c 43c 37c 28c 29c 2001 2002 2003 2004 2005
Slide 10: Four years of Cash EPS Growth
Four years of Cash EPS Growth EPS growth of 14% (excl significant items) 70.2c 61.5c 55.2c 46.0c 38.5c 2001 2002 2003 2004 2005 Cash Diluted EPS (excl significant items)
Slide 11: Four years of growth in Market Capitalisation
Four years of growth in Market Capitalisation $1,519m $1,178m $909m $689m $402m $489m 2001 2002 2003 2004 2005 Today
Slide 12: A great company for our customers
A great company for our customers “ Since moving to Bank of Queensland, we have never been happier with the service. The staff are attentive, understanding, professional and unequalled in their skills. ” - John Miller, Radio 4BC
Slide 13: BOQ puts the customer first
BOQ puts the customer first 86 new branches opened in 4 years. 12 new business banking centres opened in 4 years. CustomerFirst initiative launched. Our goal – to excel in customer service. Customer service is our key differentiator in the market place.
Slide 14: Making us more convenient
7 “a oy Queensland BOQEF: 1 ATM: = 153 CB: Corporate Branches OMB®: Owner-Managed Branches® BBC: Business Banking Centres de BOQEF: BOQ Equipment Finance Offices A ATM: Automatic Teller Machines BOQEF: 1 8 DECEMBER 2005 SOFITEL HOTEL, BRISBANE
Slide 15: Our Interstate Branch Expansion
Our Interstate Branch Expansion Forecast 250 250 215 OMBs - 200 179 110 Interstate 75 142 40 150 120 5 OMBs - Qld 95 98 100 79 82 85 90 62 37 40 Corporate 50 58 58 58 58 57 55 50 0 Aug-01 Aug-02 Aug-03 Aug-04 Today Aug-06 Aug-07
Slide 16: Success of Interstate Branches
Success of Interstate Branches First 5 interstate branches opened in July/August '04: Byron Bay Kingscliff $247min $247m inlending lending North Parramatta $64min $64m indeposits deposits Frankston $311min $311m infootings footings 455 Bourke St, Melbourne Average footings of $62m on November 30, co
Slide 17: ATMs
ATMs More than 2,000 BOQ-branded ATMs TAS NT SA QLD WA VIC NSW/ACT
Slide 18: Business Banking
Business Banking 13 business banking centres. Overall strategy is to achieve SME dominance in chosen segments in Queensland Strong growth in equipment/debtor finance BOQ Equipment Finance doubled sales since purchase and reached more than $1bn in settlements. Debtor finance – growth of 18% in outsta
Slide 19: Product range: A success story
Product range: A success story Market-leading Reverse Charges Account, launched in October, exceeded expectations with 18% increase in total new accounts since launch. Business Investment Account funds growth of 59% in 1st quarter. Revamped Cash Management Account funds growth of 13% in 1st quarter.
Slide 20: Alliances
Alliances Aggregation will supplement our core skills. Our strategy to be a strong distributor of financial products has led to key alliances including: ATM network through Macquarie which provides 2000+ BOQ-branded ATMs; Insurance products through Vero, St Andrews, OAMPS and CGU; Distribution of de
Slide 21: A great company for our employees
A great company for our employees “ I have enjoyed a diverse career with plenty of career development over 15 years with BOQ. BOQ values and rewards staff who go the extra mile. ” - Glenn De Kretser, Private Bank
Slide 22: It's all about leadership
It’s all about leadership At Bank of Queensland it’s all about leadership. We want to be leaders in: Customer service Employer of choice Community involvement Innovation in banking
Slide 23: Partnerships with our staff
Partnerships with our staff An organisation that: Delivers regular and timely communication. Focuses on recruiting the right people. Provides staff access to the top through the MD’s staff hotline, focus groups and staff roadshows. Rewards our people through: Recognition Career path Developmen
Slide 24: A great company for our community
A great company for our community “ Without the support of Bank of Queensland, Drug Arm wouldn’t have been able to establish a street outreach program to help marginalised young people on the Gold Coast. ” - Ray Crompton, Drug Arm Australia
Slide 25: We're members of the community
We’re members of the community Banks forgot they were part of the community. BOQ’s branch expansion is the most fundamental level of community support. Every suburb, town and region we open a new branch we add to the strength of the local community. Our bank managers are old-fashioned when it comes
Slide 26: Community Partnerships
Community Partnerships Based around assisting young people in the core areas of: Education: Financial Basics Foundation Cooloola Sunshine Institute of TAFE Health: Juvenile Diabetes Research Foundation Royal Children’s Hospital Foundation Variety Queensland Royal Brisbane & Women’s Found
Slide 27: Community Partnerships (continued)
Community Partnerships (continued) Welfare Drug Arm street van (Gold Coast) Red Cross Night Café Arts Flying Arts Inc. Queensland Museum Foundation Environment BOQ River-lutionists Guides Queensland
Slide 28: Staff & Shareholder Initiatives
Staff & Shareholder Initiatives Staff Initiatives: Dollar-for-Dollar Program MD’s Award for Community Involvement Corporate Volunteering Program Workplace Giving Program Shareholder Initiatives: “Investing in Hope” – dividend donation program
Slide 29: Our Future
Our Future BOQ: Remaining a great company
Slide 30: Strategic Objectives
Strategic Objectives Our key objectives are to: Outperform the market and deliver strong growth across all businesses. Continue the interstate branch network expansion and expanded business banking capability. Drive revenue enhancement and expense reductions through PEP. Scale through selective acqu
Slide 31: Outlook
Outlook Housing market has slowed, but not dramatically. More favourable business environment – growth is expected (particularly in SME sector). Very competitive market across all products. Interest rate stability looking likely. Regulatory changes (Basel II) expected to have neutral impact. Our foc
Slide 32: So far in 2006
So far in 2006 First quarter results very strong. Across the bank approvals are up 36% on the same quarter last year. Housing Approvals for first quarter 2006 FY are up 31% on first quarter last year. Business Banking Approvals are up 52% for first quarter 2006 compared to first quarter last year. L
Slide 33: Financial Goals
Financial Goals Financial goals for 2006: Substantially above system (1.5x–2x system) asset and deposit growth. Maintain credit quality. Cash EPS growth of 10%-12%. Cost to income ratio of 63%. Medium-term financial goals: Substantially outperform system growth in lending and deposits. EPS growth of
Slide 34: BOQ: A Great Company
BOQ: A Great Company We are aiming to be an employer of choice. We are growing, and, through innovation, leading the market in key areas. We are profitable, and return value to our shareholders. We are active members of our local communities. We are Bank of Queensland: A Great Company
Slide 35: Our leaders
Our leaders Robert Hines Donna Quinn Ross Norton Group Executive and Group Executive Group Executive Chief Financial Officer Retail Banking Business Banking Jennifer Heffernan Bruce Auty Jenny Brice Group Executive and Group Executive Group Executive Chief Operations Officer Group Risk Human Resourc
Slide 36: Resolutions
Resolutions
Slide 37: Resolution 2(a): To re-elect Neil Roberts as a Director
Resolution 2(a): To re-elect Neil Roberts as a Director Proxy voting results Votes % For: 18,481,380 55.85% Open: 14,488,738 43.79% Total For & Open: 32,970,118 99.64% Against: 120,041 0.36% Abstain: 98,575
Slide 38: Resolution 2(b): To re-elect Antony Love as a Director
Resolution 2(b): To re-elect Antony Love as a Director Proxy voting results Votes % For: 18,428,738 55.69% Open: 14,514,336 43.86% Total For & Open: 32,943,074 99.55% Against: 148,319 0.45% Abstain: 97,341
Slide 39: Resolution 3: Non-Executive Directors' Remuneration
Resolution 3: Non-Executive Directors’ Remuneration Proxy voting results Votes % For: 15,843,796 75.49% Open: 2,217,835 10.57% Total For & Open: 18,061,631 86.06% Against: 2,531,205 12.06% Abstain: 333,114
Slide 40: Resolution 4: Employee Share Plan
Resolution 4: Employee Share Plan Proxy voting results Votes % For: 16,828,437 51.17% Open: 14,630,631 44.49% Total For & Open: 31,459,068 95.66% Against: 1,425,133 4.34% Abstain: 304,533
Slide 41: Resolution 5: Remuneration Report
Resolution 5: Remuneration Report Proxy voting results Votes % For: 16,273,757 49.71% Open: 14,646,505 44.73% Total For & Open: 30,920,262 94.44% Against: 1,820,955 5.56% Abstain: 447,517
Slide 42: BOQ AGM December 2005
BOO AGM 8 DECEMBER 2005 SOFITEL HOTEL, BRISBANEs
Bank of Queensland — Shareholder Meeting (December 2005) on 6ix