Corporate social responsibility - shareholders

 

Our aim is to be a quality investment for our shareholders by driving efficiencies, identifying strategic opportunities and ensuring our leaders are committed to the Bank’s performance. It is also our responsibility to provide shareholders with honest and clearly understandable information about our operations.

 

Financial performance

The Bank’s aim is to be a good investment for shareholders and to continue to provide incremental dividends.

 

To achieve this, BOQ maintains stringent cost and asset quality surveillance. The Bank also aims for increases in loan approvals, retail deposits, loans under management and total assets under management.

 

Maintaining credit quality, reducing bad debts and tightly managing margins and risk are also priorities. The Audit Committee is charged with making recommendations to the Board on the adequacy of external and internal audit. While the Risk Committee recommends to the Board the parameters of the Bank’s risk management strategy, monitors the Bank’s risk profile and oversees inherent risks. 

 

BOQ’s Annual reports.

 

Transparency and communications

The Bank operates its business openly and honestly and provides shareholders with ready access to balanced and clearly understandable information.

 

Continuous disclosures are made to the Australian Securities Exchange (ASX) and where appropriate, information is provided to media organisations to ensure communications have the greatest possibility of reaching investors and the general market.

 

The Market Disclosure Policy provides a framework to assist the Bank in achieving its aims of keeping the market informed of material information and enhancing communication with the market.

   

In order to maintain communication and despite changes to the Corporations Act no longer requiring companies to send reports, the Bank still sends a small Shareholder Review to ensure that shareholders remain informed.

 

For all communications, shareholders are encouraged to receive these online rather than post so to reduce the Bank’s environmental footprint and to keep expenses down. To encourage this there is a dedicated Shareholder Centre on the BOQ website which contains details of financial results, ASX announcements, key dates and presentations and speeches.

 

All shareholders are sent a Notice of Meeting one month prior to the AGM either by post or email, depending on their preference. Shareholders are encouraged to attend the AGM and to ask questions of the Managing Director and the Board. Shareholder queries and comments can also be submitted via the BOQ website, the share registry or by directly contacting the Investor Relations Manager at the Bank.

 

Commitment

The Bank’s Board and Executive members pride themselves on their commitment to excellence in all aspects of the Bank’s operation.

 

This commitment is defined in the Board Charter and the Code of Conduct. The Board Charter sets out the key governance principles adopted by the Board in governing BOQ. While the Code of Conduct sets out the principles all employees are expected to uphold in order to promote the interests of the Bank and its shareholders.

 

So to ensure the best possible representation on the Board, at least one third of Directors must retire from office at the AGM each year. Directors can be re-elected at the discretion of shareholders in a proxy vote. This rule forms part of the Bank’s Constitution. The Board also reviews its own performance and those of its Committees according to the Board Performance Review and Renewal Policy with a view to achieving and maintaining the highest level of performance.

 

Furthermore, Director attendance at Board and Committee meetings is publicly disclosed in the Bank's Annual Reports.

 

 

Share registry service

The Bank undertakes regular reviews of the service provided by the share registry and puts in place a service agreement to ensure shareholders receive the best possible level of service.

 

Shareholder benefits

When you’re a BOQ shareholder, you can get much more than just a great investment. The Bank offers various shareholder benefits to eligible shareholders.