Regional lender plots return to home-loan growth

Key points

• Bank of Queensland plans to compete more aggressively in the mortgage market through its digital-only brands, ME and Virgin Money. The bank reported a statutory net profit after tax of $250 million for the year ended August 31, up 88 per cent, after a goodwill writeoff the previous year.
• Its cash earnings fell seven per cent to $358 million, while home-loan lending dropped eight per cent to $4.6 billion.
• Chief executive Rod Finch said the bank was now more confident returning to the market after restructuring.