Investor Presentaiton
Executing on the ME integration
Integration program well progressed and synergies ahead of schedule
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BOQ GROUP
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ME returned to growth
Improved time to yes
Centralised product and
pricing capability
$1.1bn GLA growth in FY22
compared to $1.4bn GLA
decline in FY21 (pre-
ownership)
Single ADI
ME Bank ADI licence handed
back
Consolidated Treasury and
Balance sheet technology
Synergy and integration cost profile
Technology integration
well progressed
Upgrade to v.18 of Temenos
completed and
decommissioned Ultracs
(7 apps, 51 servers)
Migrated c.500k customers
from Temenos v.13 to v. 18,
c.30k customers from Ultracs
to v.18
Consolidated team and
capability build
Single executive team with
leadership teams drawn from
'best of both'
Capability uplifts acquired in
technology and marketing
Outperformed on
synergy benefits
delivered
Synergies accelerated and
increased
Integration costs in line with
initial target
Sources of annualised synergies to date
FY21
FY22
FY23
FY24+
Synergies annualised run rate
$47m
c.$70 - $80m
$95m+
Delivered percentage¹
63%
100%
125%+
Integration costs²
Cumulative
$13m
$13m
$81m
c.$40m
c.$5m
$94m
c.$135m
c.$140m
(1)
BANK OF QUEENSLAND LIMITED 2022 Full Year Results Presentation
(2)
Based on $75m mid-point of synergies range
Integration costs are not included in cash earnings
■ Operating Model
Project Propex
Supply Chain
■ Other
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