I'ld agree with rmcc8299 in the other thread...

I'ld agree with rmcc8299 in the other thread (https://hotcopper.com.au/threads/news-boq-bank-of-queensland-says-managing-director-ceo-patrick-allaway-will-continue-in-his.7524271/)- the "stability" they are probably alluding Pat is still hopeful of a merger... there was some chatter about this to the Australian earlier this year after Pat fired George https://www.theaustralian.com.au/subscribe/news/1/?sourceCode=TAWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.theaustralian.com.au%2Fbusiness%2Fdataroom%2Fbank-of-queensland-and-bendigo-adelaide-bank-in-merger-talks%2Fnews-story%2Ff41f4a873c25f52e60932f1d73ccc05c&memtype=anonymous&mode=premium&v21=dynamic-groupa-control-noscore&V21spcbehaviour=append .

Pat was pressed on merger talkd at the previous AGM but said the share price was too low - I suspect Marnie threw a low-ball offer in Feb at Pat (maybe $8-9/share) at the time and he balked (we were at about $7/share at the time).

As far as this bank is concerned, I have to agree with what the AFR has said about Pat - he completely stuffed this bank up - we used to get a dividend of 30+ cents prior to this guy coming in and s/price was $10+ - we were consistency above BEN, now we are trading at almost $3.5 less than BEN, cost to income has blown out (BEN is back to paying 32c div while we are at 20c ), EPS has declined by almost 20% since Pat was chairman in 2019, we were told ME bank acquisition would be "EPS accretive" during the ME bank capital raise - it hasn't, they overpaid and Pat tried to deflect attention from the crap financial year results last year and ME Bank acquisition last and pin BOQ's woes to previous management by writing down Home Building Society - then there was also Pat hanging up on an analyst call when asked if there was an EU with APRA which turned out to be true (https://www.copyright link/companies/financial-services/more-questions-than-answers-at-boq-20230414-p5d0jf#:~:text=Bank%20of%20Queensland's%20chief%20executive,regulator%20is%20investigating%20the%20bank "More questions than answers at BoQ"), This is what Pat said to the analyst before hanging up "“Brendan, we are not under investigation from AUSTRAC, and we do not have an enforceable undertaking,” was Allaway’s response. “This is really about continuous improvement in our compliance … and we recognise that we have more work to do." - a couple weeks later, BOQ revealed there was an EU! "The very next month, on May 31, BoQ entered into enforceable undertakings with AUSTRAC and APRA and in announcing theirs, AUSTRAC chief executive Nicole Rose said: “I am pleased with BoQ’s co-operation over the past six months …"


What also irks me about Pat besides all the above things is he paid himself a share "bonus" at the end of the year last year shortly after firing George even after the crap results! The guys is just a fking ahole imo

see copyright link/chanticleer/boq-s-20-year-quest-for-scale-and-growth-20230414-p5d0j2
and https://www.copyright link/rear-window/patrick-allaway-having-his-way-with-boq-20230814-p5dwgq - "Patrick Allaway having his way with BoQ" this is a article really good read for all BOQ investors - kind of sums up Pats tenure - overpaid for ME bank, pins blame on others (George) and takes no responsibility for his fk ups - I'm not convinced George was the architect of the ME bank acquisition given Pat is an investment banker and mergers/acquisitions would have been his specialty.