Ann: BOQ Announces Acquisition of ME Bank and Capital Raising, page-8

1H21 TRADING UPDATE1
BOQ expects to announce 1H21 statutory net profit growth of 60 - 65% and 1H21 cash net profit growth
of 8 – 10%2
• Annualised Housing GLA growth of 5% in 1H21 (1.2x system), and slightly negative to flat Business GLA growth (vs.
negative system)3
• NIM is expected to be up ~3bps on 2H20
• 1H21 expense growth of 4% compared to 1H20, 2% compared to 2H20
• Positive jaws of 1% for the half vs PCP
• 1H21 loan impairment expense to GLAs of ~10bps
• CET1 expected to be above 10.0% at the end of 1H21, well above the target range of 9.0% - 9.5%, excluding the
impacts of the capital raising
• 1H21 dividend expected to be ~17cps4 inclusive of new shares issued through capital raise