Bank Of Queensland Limited · ASX:BOQ
Bank Of Queensland — Investor Presentation (August 2009)
26 slides from Bank Of Queensland's investor presentation, Aug 19, 2009
Slide 1: Bank of Queensland Equity Raising Investor Presentation
For personal use only Bank of Queensland Equity Raising Investor Presentation 19 August 2009 NOT FOR DISTRIBUTION OR RELEASE INTO THE NOT FOR DISTRIBUTION OR RELEASE INTO THE UNITED STATES OR TO U.S. PERSONS 0 UNITED STATES OR TO U.S. PERSONS
Slide 2: Contents
Contents 1 Overview 2 For personal use only 2 Equity Raising summary 3 3 Use of proceeds 4 4 Investment highlights 5 5 Conclusion of Project Pathways 6 6 Impact on capital base 7 7 Trading update 8 8 Summary of risk factors 9 9 Indicative equity raising timetable 10 Appendices 1 Risk factors 12 2 Fo
Slide 3: Overview
1. Overview BOQ is undertaking an equity raising to strengthen the Bank’s capital position and take advantage of emerging growth opportunities For personal use only 1 Equity raising of $340 million – Strengthens BOQ‟s capital base to position the Bank for further growth • Unique OMB model to pursu
Slide 4: Equity Raising summary
2. Equity Raising summary Equity Raising of $340 million – $143m placement to BRED and institutional investors (“Placement”) For personal use only – $197m fully underwritten accelerated pro rata non-renounceable entitlement offer (“Entitlement Offer”) Offer structure & Institutional Entitlement
Slide 5: Use of proceeds
3. Use of proceeds BOQ’s equity raising strengthens the Bank’s capital position and enhances flexibility to support growth opportunities For personal use only Strengthened capital position for the medium term Capital management initiatives will support BOQ in its aim to continue the Strong capital
Slide 6: Investment highlights
4. Investment highlights Unique and effective distribution platform For personal use only OMB business Proven ability to achieve „above-system‟ loan and deposit growth model Nimble business model that can rapidly adapt to evolving market conditions Consumers desire a credible alternative to
Slide 7: Conclusion of Project Pathways
5. Conclusion of Project Pathways BOQ has now successfully completed Project Pathways with the execution of the Efficiency Program, commencement of the Portfolio Optimisation strategy and the announcement of the equity raising For personal use only 1 Efficiency Program – Phase 1 now complete, esti
Slide 8: Impact on capital base
6. Impact on capital base BOQ will have one of the strongest capital positions of the Australian banks, providing the Bank with greater flexibility in pursuing growth opportunities as economic conditions improve For personal use only 12.6% (0.1%) 12.5% 2.7% 2.6% 0.7% (0.1%) 0.5% 0.9% 7.8% 9.9% 9.9%
Slide 9: Trading update
7. Trading update FY09E Forecast annual growth of approximately 20% in normalised cash NPAT (~$186m 1) for the year For personal use only ending 31 Aug 2009 – Lending growth of ~10% for FY09E, which is expected to again exceed respective „system‟ growth2 – 2H09E NIM is expected to moderately impro
Slide 10: Summary of risk factors
8. Summary of risk factors There are a number of risks which arise directly from the operation of BOQ as a participant in the Australian financial services industry For personal use only 1 BOQ specific risks Market risk – The risk of an adverse event in financial markets causing a loss of earnings
Slide 11: Indicative equity raising timetable
9. Indicative equity raising timetable Event Date Commence trading halt Wednesday, 19 Aug 2009 For personal use only Wednesday - Thursday, Placement and Institutional Entitlement Offer 19 - 20 Aug 2009 BOQ shares recommence trading Friday, 21 Aug 2009 7.00pm (AEST) Monday, Record Date for the Entitl
Slide 12: Appendices
For personal use only Appendices NOT NOTFOR FORDISTRIBUTION DISTRIBUTION OR ORRELEASE RELEASE INTO INTOTHE THEUNITED UNITED STATES STATESOR ORTO TOU.S. US PERSONS PERSONS 11
Slide 13: Risk factors
For personal use only 1 Risk factors NOT FOR DISTRIBUTION OR RELEASE INTO THE UNITED STATES OR TO U.S. PERSONS 12
Slide 14: Risk factors: Introduction
Risk factors Introduction There are a number of factors, both specific to BOQ and of a general nature, which may affect the future operating and financial performance of BOQ, its investment returns and the value of its shares. Many of the circumstances giving rise to these risks are beyond the contr
Slide 15: Bank of Queensland specific risks
Risk factors Bank of Queensland specific risks Market risk: market risk is the risk of an adverse event in financial markets causing a loss of earnings to BOQ. This risk generally arises from either funding risk or interest rate risk. For personal use only – Funding risk is the risk of over-relian
Slide 16: Bank of Queensland specific risks (cont)
Risk factors Bank of Queensland specific risks (cont) Operational risk: operational risk is the risk of loss, other than those captured in the credit and market risk categories, resulting from inadequate or failed internal processes, people or systems, or from external events. BOQ is exposed to a
Slide 17: Bank of Queensland specific risks (cont)
Risk factors Bank of Queensland specific risks (cont) Disputes: in the course of its operations, BOQ may be involved in disputes and possible litigation. BOQ is party to a number of actions in NSW courts commenced by former owners of OMBs. The claims include allegations of misleading and deceptive
Slide 18: Foreign selling restrictions
For personal use only 2 Foreign selling restrictions NOT FOR DISTRIBUTION OR RELEASE INTO THE UNITED STATES OR TO U.S. PERSONS 17
Slide 19: Foreign selling restrictions
Foreign selling restrictions This document and any accompanying documents do not constitute an offer or invitation in any jurisdiction in which, or to any person to whom, it would not be lawful to make such an offer or invitation. The distribution of this document and any accompanying documents in j
Slide 20: Foreign selling restrictions (cont)
Foreign selling restrictions (cont) Laws of Hong Kong (the "SFO"). No action has been taken in Hong Kong to authorise or register this document or to permit the distribution of this document or any documents issued in connection with it. Accordingly, the New Shares have not been and will not be offe
Slide 21: Foreign selling restrictions (cont)
Foreign selling restrictions (cont) Singapore This document and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this document and any other document or materials in
Slide 22: Important Notice & Disclaimer
For personal use only 3 Important Notice & Disclaimer NOT FOR DISTRIBUTION OR RELEASE INTO THE UNITED STATES OR TO U.S. PERSONS 21
Slide 23: Important notice & disclaimer
Important notice & disclaimer Important General Information This presentation (Presentation) is issued by Bank of Queensland Limited, ABN 32 009 656 740 (BoQ). This presentation is in relation to an accelerated non-renounceable entitlement offer (Entitlement Offer) and placement of new ordinary shar
Slide 24: Important notice & disclaimer (cont)
Important notice & disclaimer (cont) The information contained in this Presentation is of a general nature and has been prepared by BoQ with due care but no representation or warranty, express or implied, is provided in relation to the accuracy or completeness of the information. Neither the Underwr
Slide 25: Important notice & disclaimer (cont)
Important notice & disclaimer (cont) Forward looking statements This Presentation contains certain "forward looking statements". Forward looking statements can generally be identified by the use of forward looking words such as "anticipate", "believe", "expect", "project", "forecast", "estimate", "l
Slide 26: For personal use only
For personal use only NOT FOR DISTRIBUTION OR RELEASE INTO THE UNITED STATES OR TO U.S. PERSONS 25
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