The Board of Directors of Bank of Queensland will hold its monthly board meeting tomorrow on the Gold Coast, to recognise the region’s vital importance and plan future expansion there.
The Board will also meet tonight with key retail and business customers at a function hosted by one of its major clients, Saks Restaurant at Marina Mirage, to determine how the Bank can service the region better.
The Bank’s Group Executive, Business Banking Ross Norton was also on the Coast today to deliver the keynote address at the Annual Conference of the National Retailers’ Association, focusing on BOQ’s crucial role in the changing face of business banking.
Managing Director, David Liddy, said the Gold Coast’s ongoing strong residential and business growth made the region critical to the Bank’s performance in Queensland.
Bank of Queensland has opened seven new points of contact on the Coast over the past two years, bringing its it branch network to 19 – more than any other bank.
In that period, it has also opened a dedicated Business Banking Centre at Bundall and a specialised Private Bank, both of which are growing strongly.
The Bank’s newest Gold Coast branch – Surfers Paradise – is already writing high levels of loans and deposits since it opened in February.
“The Bank’s strong recent performance can be in large part attributed to the Bank’s aggressive expansion program in Queensland, especially the Gold Coast, and in the southern states.
“Our rapid recent growth on the Gold Coast, Australia’s fastest-growing city, has also spilled across the border into the robust Tweed and Northern Rivers Regions,” Mr Liddy said.
“We have opened four branches here – Kingscliff, Tweed Heads, Ballina and Byron Bay – and will open more, as experienced Owner-Managers who meet our exacting criteria are found.
“Our Bundall Business Banking Centre has been well received by local businesspeople, and has had to increase its loans and banking officers from 5 to 9 to manage the 163% increase in loans and deposits it has achieved since it opened just 18 months ago.
“I think our success in tapping into the local business banking market reflects the exceptional personal service we offer clients, such as allocating to them a dedicated business banking manager to look after their needs, as well as our growing expertise in our niche market – SMEs,” Mr Liddy said.