BOQ heading for full-year loss

BANK of Queensland is heading for a full-year loss, after revising down its profit forecast for the second half of the year.

The large regional bank made a first-half loss of $90.6 million, and is now forecasting a second-half net profit of $70-75 million, leaving it on track for a full-year loss around $15-20 million.

AAP is reporting that it would be the first full-year loss by an Australian bank since ANZ lost $579 million in its 1991-92 financial year.

Bank of Queensland shares fell 5.4 per cent to $7.53 by 12:29pm (AEST) on the news, in a broader market that is rising and has seen gains for all four major banks.

Read more at ABC news online.


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