Bank of Queensland moves into South Australia


Bank of Queensland is another step closer to becoming a truly nation-wide bank, launching operations in South Australia by opening an office of its Equipment Finance business.

As in the eastern States, the Bank’s Equipment Finance (BOQEF) operation in South Australia and its 272 ATMs across the State are the vanguard of a comprehensive Bank of Queensland operation including retail, business banking, foreign exchange and insurance services.

Australia’s fastest-growing bank, Bank of Queensland has opened 40 Owner-Managed (franchised) Branches™ in New South Wales, Victoria and the ACT in the past 18 months and announced it would shortly make the move into the remaining States and Territory.

BOQ will soon begin the search for Owner-Managers for South Australia Owner-Managed Branches™, giving experienced, talented bankers the chance to not only manage but to own a branch and profit-share in its business.

The Adelaide BOQEF operation will be headed by South Australian business banker and former BankWest and BankSA senior manager Neil Styles.

BOQEF is the Bank’s most aggressively growing division and it’s first genuinely national business.

The 38% growth in BOQEF’s total assets (leasing book) over the FY2004/05 to nearly $1.8 billion underpinned the Bank’s business banking growth and made a solid contribution towards the Bank’s record net profit for FY2005 of $91.7 million.

Managing Director David Liddy said BOQEF shared with all of Bank of Queensland’s wider business banking and retail divisions an emphasis on superior face-to-face service and accessible personal bank managers for customers.

“Our first interstate retail branches, in just their first 18 months of operation in virgin markets, are outstripping the performance of our home-state branches in the same period by an average of around 50%, Mr Liddy said.

“The Owner-Managed Branch Model™ turns banks into a small business, enabling local decision-making and much higher standards of service for customers.

“Our Owner-Managers are the cream of the crop and are not only excellent bankers but passionate about looking after their clients.  We have very stringent quality and experience requirements to ensure we only have the very best Owner-Managers.

“Only 1 in 15 people who approach us actually become Owner-Managers,” Mr Liddy said.”