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Investor Presentaiton

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Pro forma statement of net assets Pro Forma BOQ $mil 28 Feb 14 Equity Raising (1) BOQ 28 Feb 14 IBAL (2) 28 Feb 14 Acquisition Adjustments (3) Transaction Pro Forma Consolidated Costs (4) 28 Feb 14 Assets Cash and equivalents 803 394 1,197 1,611 (210) (6) 2,592 Other financial assets 5,755 5,755 5,755 Loans and advances 35,013 35,013 2,336 5 37,354 Other assets 256 256 5 4 2 267 Intangibles Total assets 602 602 210 812 42,429 394 42,823 3,951 10 (4) 46,780 Liabilities Deposits 31,968 31,968 2,777 10 34,755 Debt 6,949 6,949 1,153 8,102 Other liabilities 631 631 21 652 Total liabilities 39,548 39,548 3,951 10 43,509 Net assets 2,881 394 3,275 (4) 3,271 Capital ratios CET 1 ratio Tier 1 ratio Total capital ratio 8.84% 10.22% 12.41% 10.65% 12.03% 14.21% 8.58% 9.80% 12.15% Note: BOQ has relied on limited unaudited financial information provided by Investec Bank (Australia) Limited (IBAL) in preparing this pro forma statement of net assets and capital ratios. BOQ is unable to verify the accuracy or completeness of all that information. This statement of net assets is based on the proposed transaction structure which is subject to regulatory approval. Please see the "Acquisition Risks" in the "Key Risks" Section of this Presentation for more details. 1 Net of equity raising costs of $5.6m (after tax). 2 All IBAL loans assumed to be risk weighted at 100% and other risk weighted assets are presumed to be in line with BOQ's existing profile. 3 Acquisition adjustments include premium to book value paid to vendor ($210m), fair value adjustments to loan assets net of provisions ($5m), fair value adjustments to deposit liabilities ($10m) and associated tax adjustments ($4m). 4 Transaction costs include M&A costs, insurance costs and associated tax adjustments. IT'S POSSIBLE to LOVE A BANK 22 BOQ
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