Bank of Queensland’s multimillion-dollar hit from virus and underpayments to staff – NEWS.com.au

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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