Investor Presentaiton
Operating expenses and impairments
Expenses held flat with synergies and productivity savings funding growth and digital investment
Operating expenses flat in FY22
> Synergies of $38m delivered against first year target of $30-
$34m
> Productivity benefits of $30m, bringing the total from FY20 -
FY22 to $90m
> Productivity and synergy savings enabling investment in the
digital transformation and growth
> Maintenance of legacy core banking platform and development
of new digital bank increases cost base in the near term
> Ongoing work to reduce manual processes and improve
controls, uplifting risk maturity
> Inflation, skills shortages and regulation impacting banking
industry expense outlook
> Completion of new digital bank, migration of customers and
retirement of legacy systems will deliver material scale and
efficiency benefits in coming years
Impairments
BOQ GROUP
> Loan impairment expense of $13m for FY22, due to increased
collective provision from GLA growth and ME Bank increases post
acquisition accounting treatment, offset by a strong economy in
FY22 and improving portfolio quality
> Portfolio quality remains sound with arrears improving
> Maintain a watching brief on changing key economic indicators
Loan impairment expense/(credit) ($m)
(29)
53
(82)
13
13
0
BANK OF QUEENSLAND LIMITED 2022 Full Year Results Presentation Note: FY21 comparison is on a pro forma basis
FY21
FY22
â– Specific
Collective
14View entire presentation