Upbeat BoQ sets earnings pace

The Bank of Queensland has reaffirmed its guidance of earnings-per-share growth of 10-12 per cent and a return on equity of 14 per cent. MD David Liddy told the company's AGM yesterday that the bank has had a “fantastically strong” first quarter. Lending approvals have more than doubled and there were record sales last week despite the two recent interest rate rises. Liddy also said the mooted slump in the Queensland property market is not a foregone conclusion.