Bank Of Queensland Limited · ASX:BOQ
Bank Of Queensland — FY2025 Earnings Presentation
70 slides from Bank Of Queensland's earnings presentation, Oct 15, 2025
Slide 1: FY25 Investor Materials
15 OCTOBER 2025 FY25 INVESTOR MATERIALS Full year ended 31 August 2025
Slide 2: Important information and disclaimer
2025 FULL YEAR RESULTS PRESENTATION Important information and disclaimer This is a presentation of general background information about Bank of Queensland ABN 32 009 656 740 and its consolidated entities (BOQ’s) activities at the date of this document. It is in summary form, does not purport to be c
Slide 3: Contents
2025 FULL YEAR RESULTS PRESENTATION Contents FY25 Results Presentation 4 About BOQ Group 31 Transformation Detail 36 Divisional Results 44 Net Interest Margin 49 Portfolio Quality 53 Funding & Liquidity 61 Economic Assumptions 66 Abbreviations 69 3
Slide 4: FY25 Results Presentation
FY25 RESULTS PRESENTATION 15 OCTOBER 2025 Full year ended 31 August 2025 4
Slide 5: Acknowledgement of Traditional Custodians
BOQ Group acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the land where we live and work. We pay our respects to Elders past and present. This artwork was commissioned through Merinda Watters, a proud Kamileroi woman. Titled Burrul gi-gi maguia (Growing T
Slide 6: Agenda
2025 FULL YEAR RESULTS PRESENTATION Agenda Introduction The year ahead Jessica Smith, General Manager Investor Relations & Patrick Allaway, Managing Director & Chief Executive Officer Corporate Affairs Q&A Results overview Patrick Allaway, Managing Director & Chief Executive Officer Patrick Allaway,
Slide 7: Results Overview
RESULTS OVERVIEW Patrick Allaway Managing Director & Chief Executive Officer
Slide 8: Overview: Strong FY25 performance
2025 FULL YEAR RESULTS PRESENTATION Overview Strong FY25 performance Of retail customers Supported our customers and communities ~1.5m Customers 44% on the digital bank Improved financial performance +12% Cash NPAT +70bps Return on equity Delivered on strategic commitments ✓ Digital mortgage 14% Gro
Slide 9: FY25 results
2025 FULL YEAR RESULTS PRESENTATION FY25 results Year-on-year improvement across key financial metrics Key financial results ($m) FY25 FY25 v FY24 Total income 1,657 4% Operating expenses (1,072) 0% Underlying profit 585 10% Loan impairment expense (21) 5% Profit before tax 564 10% Income tax expens
Slide 10: Living our purpose and values
2025 FULL YEAR RESULTS PRESENTATION Living our purpose and values Building on our 150-year Queensland heritage, supporting our customers, communities and people - Launched Bank of Queenslanders campaign - Deployed Business bankers in regional growth corridors following conversion to a proprietary br
Slide 11: Transforming to a simpler, specialist bank
2025 FULL YEAR RESULTS PRESENTATION Transforming to a simpler, specialist bank Delivering our transformation with strong execution, improving customer outcomes, and financial performance › Strengthened operational & financial resiliency and protected our customers STRENGTHEN › Completed 44% of total
Slide 12: Productivity program progress
2025 FULL YEAR RESULTS PRESENTATION Productivity program progress Disciplined focus on productivity and reducing complexity FY26 $250m productivity program Delivered 250 › Operating model changes, with ~850 roles impacted › Simplified distribution channels via successful OMB conversion › Property fo
Slide 13: Digital bank growth
2025 FULL YEAR RESULTS PRESENTATION Digital bank growth Scaling growth on our digital platforms, improving customer experience and operational efficiency and resilience Digital bank customer growth (# ‘000) 1 ME customer migration2 500 All customers migrated ahead of decommissioning in 2H26 250 Firs
Slide 14: Digital bank experience
2025 FULL YEAR RESULTS PRESENTATION Digital bank experience Improving digital experience, delivering greater customer and financial outcomes Deposits Lending App store ratings 66% <90sec 1 day Of active digital deposit customers To conditional To unconditional aged between 25 – 54 approval approval2
Slide 15: Balance sheet strategy
2025 FULL YEAR RESULTS PRESENTATION Balance sheet strategy Optimising asset and funding mix, structurally shifting both sides of the balance sheet Asset mix Funding mix 8% 9% 13% +4% 33% -5% 28% 17% 78% 74% 72% 67% +6% +19% At-call1 At-call1 Proprietary Proprietary FY22 FY25 FY22 FY25 Housing and co
Slide 16: Retail banking overview
2025 FULL YEAR RESULTS PRESENTATION Retail banking overview Focus on transformation and returns as we deliver our scalable low cost to serve digital bank Summary Home lending growth ($m) › Year-on-year Retail Bank profitability up 24% 2,028 462 (327) 732 › Consistent execution of strategic initiativ
Slide 17: Business banking overview
2025 FULL YEAR RESULTS PRESENTATION Business banking overview Growth through focused execution on targeted higher returning specialist segments Summary Lending growth ($m) 523 › Year-on-year Business Bank profitability up 10% 677 › Prioritisation of returns over volume growth in a competitive market
Slide 18: Financial Detail
FINANCIAL DETAIL Racheal Kellaway Chief Financial Officer
Slide 19: Financial performance
2025 FULL YEAR RESULTS PRESENTATION Financial performance Delivery of strategic commitments driving increase in full year cash earnings Key financial results ($m) FY25 FY25 v FY24 2H25 2H25 v 1H25 Net interest income 1,515 4% 790 9% Non-interest income 142 4% 74 9% Total income 1,657 4% 864 9% Opera
Slide 20: Non-cash items
2025 FULL YEAR RESULTS PRESENTATION Non-cash items Statutory adjustments reflect strategic decisions made to strengthen and simplify the business Reconciliation of cash earnings to statutory net profit after tax ($m) FY25 FY24 2H25 1H25 Cash earnings after tax 383 343 200 183 Goodwill impairment 1 (
Slide 21: Net interest margin
2025 FULL YEAR RESULTS PRESENTATION Net interest margin Step change 13bps improvement in margin driven by branch strategy Net interest margin (%) – 1H25 to 2H25 0.06% (0.04%) (0.01%) -3bps pricing 0.12% +4bps pricing +1bp replicating portfolio +2bps asset mix -1bp retail mix -1bp uninvested LCD -1bp
Slide 22: Operating expenses
2025 FULL YEAR RESULTS PRESENTATION Operating expenses 4% reduction in underlying costs driven by sustainable delivery of productivity benefits Operating expenses ($m) 0 25 (71) 42 (5) 12 1,069 4% reduction in underlying costs 1,072 Costs flat year-on-year 1 2 FY24 Inflation Other Simplification Inv
Slide 23: Transformation investment
2025 FULL YEAR RESULTS PRESENTATION Transformation investment Continuing to invest at a sustainable level following the build of the digital bank Investment spend ($m) Software intangible asset balances ($m) FY25 FY24 FY25 v FY24 Software intangible assets 460 254 81% Assets under construction 107 3
Slide 24: Portfolio quality
2025 FULL YEAR RESULTS PRESENTATION Portfolio quality Portfolio quality remains sound, impairment expense below long-run averages Loan impairment expense Housing, Asset finance and Commercial arrears 90DPD (bps) LIE/GLA (bps) 135 117 114 1 1 5 112 111 90 93 75 74 18 5 3 2H24 1H25 2H25 Aug-24 Feb-25
Slide 25: Provisioning
2025 FULL YEAR RESULTS PRESENTATION Provisioning Strong provisioning maintained, reflective of current environment Provisions ($m) Provisioning to standardised credit RWA coverage (%) 316 310 307 1.20% 264 264 259 1.00% Industry avg. 52 46 48 0.80% 2H24 1H25 2H25 Specific Collective Provision scenar
Slide 26: Funding & liquidity
2025 FULL YEAR RESULTS PRESENTATION Funding & liquidity Strong funding and liquidity settings Liquidity strength1 Funding strength 84% 83% 86% 145% 142% 143% 71% 72% 72% 125% 123% 124% 2H24 1H25 2H25 2H24 1H25 2H25 Liquidity coverage ratio Net stable funding ratio Deposit funding % of total funding
Slide 27: Capital strength
2025 FULL YEAR RESULTS PRESENTATION Capital strength Strong capital position, 20c fully franked final dividend Summary › CET1 ratio managed above the top end of the management target range1 › The DRP will operate with no discount and is expected to be satisfied in full by an on-market purchase of sh
Slide 28: The Year Ahead
GROUP THE YEAR AHEAD BOQe | | @~» | BOQe | BOQs
Slide 29: Outlook
2025 FULL YEAR RESULTS PRESENTATION Outlook Australian economy improving in an uncertain environment, elevated industry competition continuing › Highly unpredictable geopolitical environment, increasing risks in the economic and financial outlook › Australian economic growth recovering › Support rec
Slide 30: FY26 priorities
2025 FULL YEAR RESULTS PRESENTATION FY26 priorities Delivering on our strategy, leveraging competitive strengths; 150 year Queensland heritage, specialist business bank, and scalable digital bank 1. Optimising balance sheet mix and performance across both lending and funding 2. Scaling retail deposi
Slide 31: About BOQ Group
GROUP ABOUT BOQ GROUP BOs | | @=» | Boge | BOs
Slide 32: BOQ Group
2025 FULL YEAR RESULTS PRESENTATION BOQ Group Supporting customers for over 150 years with differentiated brands attracting niche segments Our differentiators Key statistics for FY25 › Proud 150-year Queensland heritage › Highly specialised bankers serving niche industry segments ~10k BOQ Business ~
Slide 33: 2025 FULL YEAR RESULTS PRESENTATION
2025 FULL YEAR RESULTS PRESENTATION 33
Slide 34: How we create value
2025 FULL YEAR RESULTS PRESENTATION How we create value AL BANKING DIGIT Customer Finance Personalised experiences delivered through Access to funding through customer digital and relationship banking deposits, wholesale debt and capital markets to support operations and execute our strategy Technol
Slide 35: Distribution network
2025 FULL YEAR RESULTS PRESENTATION Distribution network Summary as at 31 August 2025 OMB Corporate Trans. Centre Total 1 26 80 2,266 31 August 2024 114 17 9 140 23 6 2,415 31 August 2025 - 103 8 111 8 1,327 4 1,528 1 796 111 CORPORATE BRANCHES1 11,890 BROKERS ACCREDITED WITH BOQ 2 891 13 3,966 43 M
Slide 36: Transformation Detail
TRANSFORMATION DETAIL DETAIL 36
Slide 37: Our transformation
2025 FULL YEAR RESULTS PRESENTATION Our transformation Building a simpler, specialist bank Strategic pillars STRENGTHEN Improved risk culture, with strong financial and operational resilience SIMPLIFY Simplified bank, with improved productivity and efficiency DIGITISE Scalable low cost to serve digi
Slide 38: Remedial action plans key terms
2025 FULL YEAR RESULTS PRESENTATION Strengthen | Remedial action plans key terms Court Enforceable Undertakings – Key Terms Remedial Action Plans finalised and submitted: › Addressing underlying weaknesses › Setting clear and measurable actions › Timeline for completion and clear accountabilities th
Slide 39: Remedial action plan progress
2025 FULL YEAR RESULTS PRESENTATION Strengthen | Remedial action plan progress Key Achievements Progress as at 31 August 2025 Program rQ ✓ 51 RAP activities completed and closed, representing 31% of all activities DESIGN IMPLEMENT EMBED Strengthen risk culture, ✓ Launched an enhanced program managem
Slide 40: Digitise roadmap
2025 FULL YEAR RESULTS PRESENTATION Digitise | Roadmap Digital strategy improving customer experience, providing strong deposit growth and lower cost to serve FY21 - 23 FY24 - 25 Post FY25 VMA and BOQ transaction and savings launched on new cloud Digital mortgage for all brands on new cloud digital
Slide 41: Digitise | Lending
2025 FULL YEAR RESULTS PRESENTATION Digitise | Lending An omni-channel offering with digitised processing, seamless customer origination and servicing experience Improved analytics Simplified product offering & reporting (>100 down to 2) Our Digital Home Lending Solution 3 hand off points to origina
Slide 42: Digital mortgage customer home lending journey
2025 FULL YEAR RESULTS PRESENTATION Digitise | Lending Our digital mortgage is fast, cost-efficient, scalable and delivers a superior customer experience CUSTOMER HOME LENDING Broker 1 Verification Officer 2 Settlement Officer 3 <1 50% TO 4 3 Solicitor Credit Officer Partner JOURNEY HAND- TIME TO CO
Slide 43: Optimising BOQ
2025 FULL YEAR RESULTS PRESENTATION Optimising BOQ Focus on improving shareholder returns, year-on-year ROE uplift of 70bps and CTI improvement of 210bps › Accelerating growth in higher returning, specialist segments › Scaling home lending growth via our low-cost to serve digital banking platform RE
Slide 44: Divisional Results
GROUP DIVISIONAL RESULTS BOs | | @=» | Boge | BOs
Slide 45: Divisional performance
2025 FULL YEAR RESULTS PRESENTATION Divisional performance Retail Business FY25 FY24 FY25 v FY24 FY25 FY24 FY25 v FY24 Net interest income 807 791 2% 713 672 6% Non-interest income 94 88 7% 50 45 11% Total income 901 879 3% 763 717 6% Operating expenses (738) (746) (1%) (334) (323) 3% Underlying pro
Slide 46: Home lending performance
2025 FULL YEAR RESULTS PRESENTATION Home lending performance Housing metrics Housing application volumes (# ‘000)2 Portfolio FY25 Flow 16.7 14.4 14.4 LVR > 90% (%) 1 0.7 0.1 0.1 8.2 LVR > 80% (%) 8.4 8.6 10.3 11.1 90 Days past due (bps) 114 - 2.8 Interest only % (excl. construction) 10 16 1.1 0.6 0.
Slide 47: Lending to households (APRA data)
2025 FULL YEAR RESULTS PRESENTATION Lending to households (APRA data) Lending to Households (APRA) Multiple (APRA) YTD (A) 3M (A) 1M YTD 3M 1M Market share Major 1 21.60% 26.25% 1.89% 3.7 4.1 3.8 6.37% International 1 11.90% 16.85% 1.30% 2.0 2.6 2.6 2.88% ME 7.43% 8.94% 0.53% 1.3 1.4 1.1 1.23% Inter
Slide 48: Lending to business (APRA data)
2025 FULL YEAR RESULTS PRESENTATION Lending to business (APRA data) Lending to Businesses (APRA) Multiple (APRA) YTD (A) 3M (A) 1M YTD 3M 1M Market share Regional 1 15.75% 25.56% 1.02% 1.5 2.1 1.1 1.01% Major 1 13.70% 15.53% 1.32% 1.3 1.3 1.4 20.02% Major 2 12.81% 10.47% 0.21% 1.2 0.9 0.2 21.30% Sys
Slide 49: Net Interest Margin
GROUP NET INTEREST MARGIN BOs | | @=» | Boge | BOs
Slide 50: Net interest margin – FY24 to FY25
2025 FULL YEAR RESULTS PRESENTATION Net interest margin – FY24 to FY25 Net interest margin (%) – FY24 to FY25 0.03% (0.04%) 0.04% 0.05% +5bps asset mix +2bps funding mix +4bps pricing -4bps pricing +6bps capital and LCDs +6bps branch strategy -1bp liquidity -6bps retention & FTBB -2bps wholesale fun
Slide 51: Replicating portfolio
2025 FULL YEAR RESULTS PRESENTATION Replicating portfolio Summary Replicating portfolio › The replicating portfolio is a tool to manage 5% interest rate risk 4% 3M BBSW › Replicating portfolio has an investment term 3% RBA Official Cash Rate of 5 years, this remains appropriate in current market con
Slide 52: Hedging costs - basis risk
2025 FULL YEAR RESULTS PRESENTATION Hedging costs - basis risk Summary Long term basis risk avg - 8 bps › BOQ’s basis risk exposure fell in 2H25 due to at-call deposit growth 0.30% outpacing growth in variable rate assets › The impacts of hedging costs had a <1bp NIM impact in 2H25 › Current sensiti
Slide 53: Portfolio Quality
GROUP PORTFOLIO QUALITY BOs | | @=» | Boge | BOs
Slide 54: Collective provisioning
2025 FULL YEAR RESULTS PRESENTATION Collective provisioning Unemployment rate (%) Economic forecasts (calendar year) (%)1 6.0% Base Downside 2025 2026 2027 2025 2026 2027 GDP (YoY growth %) 1.7 2.1 2.0 1.0 (0.7) 0.6 4.0% Unemployment rate (%) 4.3 4.3 4.3 4.5 6.7 7.3 Residential Property Prices 4.4 5
Slide 55: Housing loan portfolio
2025 FULL YEAR RESULTS PRESENTATION Housing loan portfolio Diversified portfolio with conservative LVR lending Summary Housing portfolio by geography (%) › Housing portfolio diversified across geography and channel 6% QLD › ~99% of customers with LVR =<90%, with FY25 flow above 90% at 10% 30% NSW &
Slide 56: Commercial portfolio
2025 FULL YEAR RESULTS PRESENTATION Commercial portfolio Continued focus on target segments Summary › Commercial portfolio diversified geographically › Property and construction industry segments are well diversified and performing well with no material indication of stress. These segments will cont
Slide 57: Asset finance portfolio
2025 FULL YEAR RESULTS PRESENTATION Asset finance portfolio Portfolio remains well diversified Summary Asset finance by geography (%) › Broad industry spread reducing concentration of asset finance 10% QLD portfolio 11% 31% NSW › Asset finance portfolio diversified across geography and channel VIC 2
Slide 58: Business Bank lending portfolio
2025 FULL YEAR RESULTS PRESENTATION Business Bank lending portfolio Well diversified and underpinned by quality security Summary › Business Bank portfolio diversified geographically with a diverse channel mix › The portfolio is well secured with less than 13% of unsecured lending › No material indus
Slide 59: Industry and geographic split over time
2025 FULL YEAR RESULTS PRESENTATION Industry and geographic split over time1 Enhanced diversification over time Housing loans - geographic split over time (%) Summary FY25 Balance Outstanding (%) 30% 30% 24% 10% 6% › Enhanced geographic diversification, Queensland FY17 Balance Outstanding (%) 50% 21
Slide 60: Emerging risks to portfolio quality
2025 FULL YEAR RESULTS PRESENTATION Emerging risks to portfolio quality Macro economic environment › Modest additional reductions in the cash rate are expected in 2026 › We anticipate mid-to-high single digit house price growth in 2026 albeit with a mixed performance across the country, affordabilit
Slide 61: Funding & Liquidity
GROUP FUNDING & LIQUIDITY BOs | | @=» | Boge | BOs
Slide 62: Funding
2025 FULL YEAR RESULTS PRESENTATION Funding Major maturities1, 2, 3 ($m) Long term wholesale funding ($bn) 17.9 16.7 16.3 1.3 1.6 1.6 5.2 4.5 4.4 3.8 3.8 4.1 400 977 7.6 6.8 6.2 2H24 1H25 2H25 Securitisation Covered bond Senior unsecured Additional Tier 1 notes / Subordinated debt 250 260 Customer a
Slide 63: Liquidity coverage ratio (LCR)
2025 FULL YEAR RESULTS PRESENTATION Liquidity coverage ratio (LCR) LCR (Aug-25) – 142.9% LCR waterfall (Feb-25 to Aug-25) $17.1bn (4.8%) 11.8% (4.5%) (1.4%) $12.0bn OTHER CASH OUTFLOWS HIGH WHOLESALE QUALITY FUNDING LIQUID ASSETS 141.8% 142.9% CUSTOMER DEPOSITS Liquid assets Net cash outflows Feb-25
Slide 64: Net stable funding ratio (NSFR)
2025 FULL YEAR RESULTS PRESENTATION Net stable funding ratio (NSFR) NSFR (Aug-25) – 124.2% NSFR waterfall (Feb-25 to Aug-25) $72.0bn WHOLESALE FUNDING 1.5% (1.0%) AND OTHER LIABILITIES 0.4% 0.3% $58.0bn 1.0% (0.7%) OTHER LOANS CUSTOMER 124.2% DEPOSITS 122.7% RESIDENTIAL MORTGAGES ≤ 80% LOAN TO VALUE
Slide 65: Credit rating
2025 FULL YEAR RESULTS PRESENTATION Credit rating Current debt ratings1 Rating Agency Short Term Long Term Outlook S&P A-2 A- Negative Fitch F2 A- Stable Moody’s P-2 Baa1 Stable (1) The Bank monitors rating agency developments closely and is rated by Standard & Poor’s (S&P), Fitch Ratings and Moody’
Slide 66: Economic Assumptions
GROUP ECONOMIC ASSUMPTIONS BOs | | @=» | Boge | BOs
Slide 67: Macro economic environment
2025 FULL YEAR RESULTS PRESENTATION Macro economic environment1 Economic growth is improving, inflation is close to target Macro economic › Economic growth picked up over the course of the 2025 financial year › Despite the modest rise in the unemployment rate the labour market remains historically s
Slide 68: Housing, business lending and deposit outlook
2025 FULL YEAR RESULTS PRESENTATION Housing, business lending and deposit outlook1 Economic growth is improving, inflation is close to target Housing outlook Business lending outlook Deposits outlook › A modest further rise in the unemployment ›There has been a pickup in the growth of › Stronger inc
Slide 69: Abbreviations
GROUP ABBREVIATIONS BOs | | @=» | Boge | BOs
Slide 70: Abbreviations
2025 FULL YEAR RESULTS PRESENTATION Abbreviations 1H: First half of financial year CTF: Counter Terrorism Financing NIM: Net Interest Margin 2H: Second half of the financial year DTI: Debt to income ratio NPAT: Net Profit After Tax 90DPD: 90 days past due DPD: Days past due NSFR: Net Stable Funding