Bank of Queensland Limited ABN 32 009 656 740
100 Skyring Terrace, Newstead 4006
GPO Box 898, Brisbane 4001
Telephone (07) 3212 3333
Facsimile (07) 3212 3409
www.boq.com.au
11 November 2016
AMENDMENTS TO 2016 ANNUAL REPORTBank of Queensland Limited (BOQ) has today lodged an updated 2016 Annual Report with the Australian Securities Exchange.
A summary of the amendments made to the Annual Report lodged with the ASX on 6 October 2016 are set out below:
Directors' Details for Mr Roger Davis, Mr Richard Haire, Ms Karen Penrose & Ms Michelle Tredenick on pages 8 & 9 have been amended to include details of all directorships of other listed companies held by these directors at any time in the 3 years immediately before the end of the financial year.
Page 9 has been amended to include Directors' Details for Mr Warwick Negus. Mr Negus was appointed to the BOQ Board on 22 September 2016.
In addition, BOQ notes the following matters of clarification:
The reference to "non-functional" on page 52 should read "non-financial".
The last sentence under "Fee Pool" in Section 6. Non-Executive Director Remuneration on page 55 reads "The Board engaged Egan & Associates to provide a view of the current fee levels and based on this advice, will seek shareholder approval at the AGM for a 5% increase to Board and Committee fees for the 2017 year". BOQ wishes to clarify that, as per the Notice of Meeting dated 27 October 2016 for the 2016 Annual General Meeting (AGM), the specific approval being sought at the 2016 AGM is for an increase in the aggregate maximum amount of non-executive directors' fees from $2,600,000 per annum (inclusive of superannuation guarantee charge
(SGC) contributions) to $2,800,000 per annum (inclusive of SGC contributions).
Ends For further information please call:Media Contact Natasha Somerville - Senior Manager External Relations P: 07 3212 3018 E: Natasha.Somerville@boq.com.au | Analyst Contact Daniel Ryan, Head of Investor Relations P: 07 3212 3990 E: Daniel.Ryan@boq.com.au |
BOQ
ANNUAL REPORT
2016
YEAR ENDED 31 AUGUST 2016
CONTENTS
CHAIRMAN AND MANAGING DIRECTOR & CEO'S LETTER 5
DIRECTORS' REPORT 7
Directors' details 8
Operating and financial review 11
REMUNERATION REPORT
Introductory message 44
Remuneration report 45
LEAD AUDITOR'S INDEPENDENCE DECLARATION 67
FINANCIAL REPORT
Income statements 70
Statements of comprehensive income 71
Balance sheets 72
Statements of changes in equity 73
Statements of cash flows 77
Notes to the financial statements 78
OTHER INFORMATION
Directors' declaration 135
Independent auditor's report to the members 136
Shareholding details 138
Shareholder information 141
5 Year Financial Summary 142
Glossary 143
FIND OUT MORE ABOUT HOW
WE'RE DELIVERING OUR STRATEGY AT
BOQ.COM.AU/ANNUAL_REPORTS/2016
2 ANNUAL REPORT 2016
BOQ FY16 RESULTS
A GOOD RESULT IN A CHANGING OPERATING ENVIRONMENT
PROFIT RESULTS
($) MILLIONS
248
186
301
261
357
318
360
338
CASH EARNINGS
$360M
UP 1% SINCE FY15
STATUTORY NET PROFIT
$338M
UP 6% SINCE FY15
EARNINGS & DIVIDENDS
(CENTS PER SHARE)
2014
2015
2013
2014
2015
2016
LOAN IMPAIRMENT EXPENSE
($) MILLIONS
90
66 $67M
2016
BASIC CASH EARNINGS PER SHARE
$96C
DOWN 2% SINCE FY15
97
74
96
76
DIVIDENDS PER SHARE
$76C
UP 3% SINCE FY15
115
8674
DOWN 9%
SINCE FY15
2013
2014
2015
2016
67
NET INTEREST MARGIN
1.94
%
3BPS
%
CASH COST TO INCOME RATIO
46.8
80BPS
RETURN ON EQUITY
10.3
%
40BPS
Bank of Queensland Limited and its Controlled Entities ABN 32 009 656 740 AFSL No. 244616 3
Bank of Queensland Limited published this content on 11 November 2016 and is solely responsible for the information contained herein.
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