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Bank of Queensland Victims

Bad debts hit Bank of Queensland profit

Danny John       October 13, 2011

A near-doubling of impairment charges caused by its exposure to the ailing regional commercial property sector has seen Bank of Queensland’s annual profit slide by 13 per cent to $158 million.

The Brisbane-based bank, one of the three remaining regional banks of any size left after the recent consolidation in the industry, saw its bad debt charges jump from $104 million just over a year ago to $200.5 million.

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