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Bank of Queensland’s multimillion-dollar hit from virus and underpayments to staff – NEWS.com.au
Bank of Queensland’s multimillion-dollar hit from virus and underpayments to staff
Bank of Queensland has warned revelations of staff underpayments in combination with the financial dents sparked by the coronavirus pandemic has cost it millions.In a statement to the Australian Stock Exchange on Tuesday morning, the regional bank said it had provisioned for a $175 million loan impairment expense that would bruise its profit for the 2020 financial year.
BOQ is expected to deliver its results on October 14, with $133 million of the expense relating to costs associated with the e…
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