Bank Of Queensland Limited · ASX:BOQ
Bank Of Queensland — Shareholder Meeting (December 2009)
31 slides from Bank Of Queensland's shareholder meeting presentation, Dec 10, 2009
Slide 1: Welcome to Bank of Queensland's Annual General Meeting
For personal use only Welcome to Bank of Queensland’s Annual General Meeting Annual General Meeting 2009 1
Slide 2: Chairman's address
For personal use only Chairman’s address Mr Neil Summerson Annual General Meeting 2009 2
Slide 3: Managing Director's address
For personal use only Managing Director’s address Mr David Liddy Annual General Meeting 2009 3
Slide 4: Growth. Evolution. Achievement.
Growth. Evolution. Achievement. For personal use only Annual General Meeting 2009 4
Slide 5: Strong financial results in tough market
Strong financial results in tough market For personal use only 2008 2009 Normalised cash NPAT $155.4m $187.4m 21% Cash EPS (normalised Fully Diluted) 99.9¢ 98.4¢ 1.5% Ordinary dividend 73¢ 52¢ 21¢ Loan growth (pcp) *23% 10% Retail deposit growth (pcp) *25% 16% Net interest margin 1.67% 1.56% 11bps C
Slide 6: Moderated growth continues
Moderated growth continues For personal use only Lending growth : 1.8x system* Deposit growth : 1.0x system* 10% 16% 16% 6% System BOQ System BOQ BOQ System System BOQ SystemSystem Lending growth Deposit growth * Last 12 months Source: APRA data Annual General Meeting 2009 6
Slide 7: Unique OMB distribution productivity
Unique OMB distribution productivity For personal use only Through the GFC the OMB model has continued to demonstrate unmatched productivity… both on the assets and liabilities side We have now converted 39 corporate branches to OMBs where average monthly settlements have increased 64% post conversi
Slide 8: Geographic diversification growing
Geographic diversification growing For personal use only BOQ historically has had most of its business in Queensland As a result of interstate OMB expansion and acquisition of Home there has been a material and growing geographic diversification trend 2005 2009 FY09 – Growth Rate % QLD 64% QLD 11% Q
Slide 9: Bad debt peaking in FY10
Bad debt peaking in FY10 For personal use only Bad debts continue to increase, but tracking well below majors with early signs of improvement in housing as economy shows signs of improvement Leasing and commercial portfolios showed increased stress in 2H09 Expect to hit peak bad debts in FY10 Bad de
Slide 10: Strong capital base and liquidity
Strong capital base and liquidity For personal use only Tier 1 capital improved 1.7% to 8.9%, or 9.6% including retail entitlement High liquidity levels remain well in excess of APRA and internal benchmarks Capital adequacy Liquidity 12.2%* 16.3% 11.5% 11.0% 13.6% Tier 2 Tier 2 ratio 2.6% 11.1% Hybr
Slide 11: Finalisation of Project Pathways
Finalisation of Project Pathways For personal use only Efficiency The Efficiency Stream was difficult, however has ‘right 1 program sized’ us for the stage of the cycle we’re in Work streams 2 Portfolio Optimisation The Portfolio Optimisation Program identified retail and Program (POP) SME as our fo
Slide 12: Your award winning bank
Your award winning bank For personal use only Bank of Queensland won the ‘Best Value Savings Institution in Australia’ award from CANSTAR CANNEX BOQ’s online banking services were recently highly rated 5 out of 6 stars by PC Authority magazine TNS Business Finance Monitor Survey ranked BOQ number 1
Slide 13: Corporate Social Responsibility
Corporate Social Responsibility For personal use only Community Customers Environment Employees Shareholders Annual General Meeting 2009 13
Slide 14: New branding: It's personal
For personal use only New branding It’s personal Annual General Meeting 2009 14
Slide 15: Our guiding philosophy
Our guiding philosophy…. For personal use only Annual General Meeting 2009 15
Slide 16: Our upcoming tagline
Our upcoming tagline For personal use only Annual General Meeting 2009 16
Slide 17: Outlook
For personal use only Outlook Annual General Meeting 2009 17
Slide 18: The new banking landscape
The new banking landscape For personal use only 28.3% 26.0% 15 years of intensifying competition now reversing Challenger brands maintained for façade of competition? 14.3% 14.0% Australian banking competition and regulation compromised by “too big to fail” players created by the GFC? 8.7% 3.7% 3.6%
Slide 19: Is competition important?
Is competition important? For personal use only YES Regional banks, and the building society / credit union sector, are needed in the financial services landscape to provide competition for Australian consumers and businesses Competition in residential and business lending, and stronger, viable non-
Slide 20: What is needed for real competition post-GFC?
What is needed for real competition post-GFC? For personal use only 1. Securitisation markets 2. ACCC’s role Regionals / smaller players have historically ACCC should take a more proactive role in had access to securitisation markets providing monitoring competitive behaviour funding at AAA-rated le
Slide 21: What is needed for real competition post-GFC?
What is needed for real competition post-GFC? For personal use only 3. Flattening of Government guarantee 4. Media and public opinion fee for term funding This is NOT asking for a handout – it’s asking 15 years of an increasing number of banking for the playing field to be levelled again! players is
Slide 22: Prospects for FY10 and beyond
Prospects for FY10 and beyond… For personal use only Our first three months results indicate continuing strong lending growth above system Headwinds Tailwinds Retail cost of funds trending higher again Cost disciplines holding, sustainable reductions in phase 2 underway Wholesale markets returning t
Slide 23: Formal Business
For personal use only Formal Business Mr Neil Summerson Annual General Meeting 2009 23
Slide 24: Resolution 2a
Resolution 2a For personal use only f Re-elect Mr David Graham as a director of the company Votes % For: 59,224,782 80.89% Open: 4,117,833 5.62% Total For and Open: 63,342,615 86.51% Against: 9,876,279 13.49% Abstain: 254,668 N/A Annual General Meeting 2009 24
Slide 25: Resolution 2b
Resolution 2b For personal use only f Re-elect Ms Carmel Gray as a director of the company Votes % For: 67,439,221 92.08% Open: 4,126,782 5.63% Total For and Open: 71,566,003 97.71% Against: 1,671,711 2.28% Abstain: 236,537 N/A Annual General Meeting 2009 25
Slide 26: Resolution 2c
Resolution 2c For personal use only f Re-elect Mr John Reynolds as a director of the company Votes % For: 68,567,375 93.64% Open: 4,127,030 5.64% Total For and Open: 72,694,405 99.28% Against: 532,572 0.73% Abstain: 246,819 N/A Annual General Meeting 2009 26
Slide 27: Resolution: Ratification of Issue of Shares – DRP underwriting
Resolution 3 For personal use only f Ratification of Issue of Shares – DRP underwriting Votes % For: 67,650,313 93.22% Open: 4,165,585 5.74% Total For and Open: 71,815,898 98.96% Against: 753,380 1.04% Abstain: 773,901 N/A Annual General Meeting 2009 27
Slide 28: Resolution: Ratification of Issue of Shares – February 2009 Placement
Resolution 4 For personal use only f Ratification of Issue of Shares – February 2009 Placement Votes % For: 66,570,055 92.85% Open: 4,184,700 5.84% Total For and Open: 70,754,755 98.69% Against: 942,659 1.31% Abstain: 1,347,341 N/A Annual General Meeting 2009 28
Slide 29: Resolution: Ratification of Issue of Shares – August 09 Placement
Resolution 5 For personal use only f Ratification of Issue of Shares – August 2009 Placement Votes % For: 58,508,385 91.96% Open: 4,202,181 6.60% Total For and Open: 62,710,566 98.56% Against: 915,088 1.44% Abstain: 5,366,685 N/A Annual General Meeting 2009 29
Slide 30: Resolution: Adopt Remuneration Report
Resolution 6 For personal use only f Adopt Remuneration Report Votes % For: 56,927,109 78.69% Open: 4,093,186 5.66% Total For and Open: 61,020,295 84.35% Against: 11,321,488 15.65% Abstain: 1,134,321 N/A Annual General Meeting 2009 30
Slide 31: For personal use only
For personal use only Annual General Meeting 2009 31
Bank of Queensland — Shareholder Meeting (December 2009) on 6ix