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Bank of Queensland has big ambitions

16/10/2009

The Bank of Queensland announced a record full year profit yesterday and said it wanted to grow to become a rival to the big four Australian banks.

Chief executive David Liddy said the recent takeovers of St George (by Westpac) and BankWest (Commonwealth Bank) had left a gap in the market.

He said BoQ wanted to become the country's "fifth" big bank. "We want to be the real alternative to the Big Four," Mr Liddy said.

BoQ grew retail deposits in the financial year by 16per cent from $14 billion to $16.2 billion. After-tax profit of $187million was up 21 per cent on the 2008 result.

Source: Courier Mail

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