You can bank on Queensland
14/01/2012 
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Sick of hearing about the US banks going under? Well the Bank of Queensland (BOQ) has posted a another rise in cash profit for the 2008 financial year.
Mr Mortgage has heard rumours that the Bank of Queensland has been a take-over target for some time and blind Freddie can see why.
It rose by almost half to just over $155 million, boosted by a big rise in retail deposits after the purchase of regional building societies, but bad debts rose by nearly a third to $27 million.
BOQ managing director David Liddy says the bank has maintained its profitability despite the global financial crisis.
“This has been a really challenging year for our financial services sector with such volatility in financial markets,” he said.
“But The Bank of Queensland [BOQ] has once again made considerable progress in 2008 and I’m delighted today to announce another solid result for the bank.”
Investors will get a final dividend of 38 cents a share, fully franked.
Rick Adlam has been helping clients with home loan finance since 1985 when he was home consultant with AV Jennings. Rick started Equity Home Loans in 1996 to help homeowners become property investors. Rick currently consults in the development of Mr Mortgage for mortgage brokers and HomeMate for new home buyers.
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