BoQ looks for home advantage

The Bank of Queensland reported a full-year net profit of $A24.1 million on 26 October 2001, up eight per cent. The better than expected result was due to strong growth in home lending, with approvals up 29 per cent to $A2.8 billion.

The bank's managing director, David Liddy, said, however, that the bank was keen to diversify into other areas, such as business banking. He also said the bank's market share in Queensland, now at six per cent, left plenty of room for growth in that state.

The bank has joined forces with ABN Amro Morgans and Royal and Sun Alliance for financial planning and insurance services.