Bank of Queensland (often referred to simply as BOQ) is one of Australia’s most prominent financial institutions. While it doesn’t operate on the same scale as the likes of CommBank or Westpac, it fits nicely into the second tier of Australian banking, operating on a comparable scale to Bendigo or Suncorp (excluding insurance).
There are more than 160 branches across Australia, most of which are run by local owner/managers, who know the area they service well and run the branch as a small business.
Bank of Queensland Subsidiaries
As BOQ has scaled up, it has developed and acquired several brands that offer various different products and services.
Virgin Money Australia
BOQ acquired the digital bank Virgin Money Australia in 2013, and it continues to operate as a standalone business within the BOQ group.
ME is another smaller bank that BOQ acquired in 2021. It offers customers retail banking services, aiming to provide simple products that are easy for consumers to understand.
The BOQ Finance subsidiary provides financing options for medium sized businesses, with over 100,000 customers across seven lines of business.
BOQ Specialist, formerly known as Investec Professional Finance before it was acquired in 2014, offers banking services tailored to niche markets, including professionals within the following industries:
It is also one of the few banks to offer SMSF commercial property loans.
BOQ financial fitness
In June 2023, BOQ launched its Goal Getter program, aiming to help Australians improve their financial wellbeing. The program is a free six week email series, which also includes tips and encouragement from ambassador, Olympic gold medalist Ariarne Titmus and her coach, Dean Boxall, who you may remember from his exuberant celebrations at the 2021 Tokyo Olympics.
BOQ Group Executive Martine Jager said the campaign was created to help young Australians in particular become more financially literate.
“BOQ Goal Getter draws on the world of fitness to highlight how to make healthy financial decisions and set attainable goals,” Ms Jaher said.
“Everyone’s savings goals look different, and the beauty of this campaign is that it meets young Australians wherever they are at with their financial fitness, helping them gain control at a pace tailored to them.”