Bank of Queensland FY26 slides: transformation done, growth pivot starts

Bank of Queensland (BOQ) has completed its three-year transformation journey, marking a shift from a transformation phase to a growth phase in its fiscal 2026 results. The bank's full-year earnings declined 7% to AUD 358 million on a cash basis, excluding notable items, but this was offset by solid capital returns and strategic initiatives.

BOQ's digital banking platform now serves 68% of retail customers and all ME Bank customers, following a complex migration involving approximately 350,000 customers and $29 billion in home loans. The bank's cost-to-income ratio increased slightly, but its Common Equity Tier 1 (CET1) ratio strengthened significantly to 11.64%, providing capacity for capital returns and growth investment.

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