Bank of Queensland launches banking service renaissance with rebranding to win disenchanted big bank customers across the eastern seaboard



  • Bank of Queensland unveils new logo and direction

  • Just as the next round of NAB closures bites in regional areas, BOQ accelerates branch opening program, and announces will expand through NSW and VIC

  • BOQ on the hunt for suitable acquisitions

  • BOQ share price hits new all time high of $7.86 on Friday before closing at new record of $7.52

  • Bank of Queensland to use "aggressive hospitality" to take on big banks as gap in the market opens for regional "friendly" banks

  • "Enough is enough with the big banks contempt for the customer," says Bank of Queensland managing director David Liddy.

  • Launches Internet banking

As community resentment of the big banks reaches yet another all time high on the back of the latest report showing unprecedented fee levels and more closures, Bank of Queensland today unveils a new style of banking and accelerates its opening program.

 

After 30 years the Bank's new logo will incorporate a burnt ochre colour to reflect the diversity of Australian communities - regional, bush, remote and metropolitan.

 

Its new logo was erected on its head office building in Brisbane at dawn this morning.

 

Managing Director David Liddy said Bank of Queensland's new direction tapped into its "regional roots" which meant it provided all the same services and electronic delivery platforms but was genuinely closer to real communities, unlike the bigger banks which tended to be hog-tied to Sydney, Melbourne and to a lesser extent even Brisbane.

 

"As a regional bank we are truly committed to real communities. That's why we're opening new branches. We're expanding while the big banks are closing down. The time is ripe for more nimble regional players like Bank of Queensland to get a stronger foothold.

 

"After more than 30 years of Bank of Queensland's blue box logo, our look is evolving to reflect our ties to all different types of communities throughout Queensland, and we're going to move into NSW and Victoria," Mr Liddy explained.

 

"As we open more branches, especially in regional and bush areas, we want the lifestyles of people in those communities to be captured in our emblem. Our move reflects what we see as our biggest strength right now, that we are small enough to be very close to communities just as big banks lose that real relationship.

 

"We've announced to the market before that we will open 34 new branches in all types of communities within 3 years," he said. "But we've already had such success with these new branches, and communities across the country are clamouring to have one of our new branches to such an extent that we now believe we'll open more than that, in half the time."

 

He said Bank of Queensland was looking at using the same "aggressive hospitality" to take on the big banks on their home turfs in New South Wales and Victoria.

 

"It's easy to see the big banks have really let their guards down to allow such resentment and hostility to build up in many communities against them," he said.

 

"At Bank of Queensland we're going in the opposite direction, giving customers a service renaissance, while at the same time they've got all the bells and whistles available from a bigger bank like internet and phone banking."

 

Mr Liddy said the Bank had spent the past 15 months working on the Bank's engine room, efficiency, processes and IT outsourcing.

 

"We have got all the nuts and bolts in place now so we have shifted our focus to the next hurdle: growth - both organic and inorganic."

 

To arrange an interview or graphics of the new logo or pic of signwriters erecting new BOQ sign on head office please phone:

 

Deidre Stark
Bank of Queensland
Mobile 0439 730 547