type public traded as asx boq industry banking financial services founded 1874 headquarters boq village 100 skyring terrace newstead queensland australia number of locations 252 branches 3 055 atms including rediatms area served australia key people roger davis chairman jon sutton ceo products consumer banking commercial banking finance and insurance mortgage loans credit cards net income a 260.5 million 2014 1 total assets a 43.027 billion 2014 1 total equity a 3.3405 billion 2014 1 number of employees 1 903 2014 1 divisions retail banking boq finance boq specialist st andrew s insurance virgin money australia website boq.com.au boq.mobi the bank of queensland branded boq is an australian retail bank with headquarters in brisbane queensland . the bank is one of the oldest financial institutions in queensland and now has branches throughout australia with a network of 252 branches including 78 corporate branches and 166 owner managed branches . 1 following the home building society and pioneer mergers it now has more than 650 000 customers . citation needed in 2007 customer satisfaction with the bank was placed at 88 % . 2 contents 1 history 2 involvement with storm financial 3 see also 4 references 5 external links history edit in 1874 the brisbane permanent benefit building and investment society was established as the first permanent building society formed in queensland . the society incorporated in 1887 . the company amalgamated with city and suburban building society in 1921 . the company amalgamated with queensland deposit bank a decade later . staff members of the bank of queensland brisbane 1922 the company received a licence to operate as a trading bank in 1942 . until this point what became the bank of queensland was a savings bank cum building society not a trading bank . the company changed its name to bank of queensland boq and computerised its operations in 1970 . 1971 saw the bank become a publicly traded company listed on the australian stock exchange . 3 the bank incorporated bank of queensland savings bank as a wholly owned subsidiary in 1982 . in 1991 boq acquired stowe electronic switching pty ltd and renamed it queensland electronic switching pty ltd. in 1999 bank of hawaii bought 5.8 m shares approx . 10 % in bank of queensland . two years later bank of hawaii sold its 6.2 m shares and 5.4 m convertible notes in bank of queensland to refocus on its operations in hawaii . boq acquired the equipment financing business of ufj bank in australia and new zealand in 2003 . 3 the bank also acquired atm solutions . in 2004 boq opened branches in new south wales victoria and the australian capital territory . the following year boq acquired the 78 million debtor finance division of orix australia . in 2006 the bank acquired queensland based pioneer permanent building society 3 and opened branches in the northern territory and western australia . bank of queensland merged with western australia based home building society the mackay permanent building society and the queensland based pioneer permanent building society in 2007 . 4 in 2009 citi purchased lending rights on bank of queensland suncorp virgin money and borrowing wholesale deal in credit card lending acquisition bailout . application of citi purchasing rights made in australian high court . in 2010 boq joined the rediatm network and purchased st andrew s insurance . 3 st andrew s is an australian manufacturer of consumer credit insurance products . it also acquired the australian and new zealand divisions of cit group inc 3 a supplier of vendor finance to small businesses and middle market companies . in 2011 the bank experienced a profit slump due to lending losses from the 2010 2011 queensland floods . 5 in 2013 boq bought virgin money australia for 40 million . 6 under the deal boq has rights to the virgin money name in australia for four decades while paying royalties to the virgin group and virgin has a seat on the boq board . 6 7 10 2016 pacific channel banking group purchases convertible note on ownership standards rule high court of australia 7 10 2016 pacific channel banking group seeks shares in bank of hawaii and wins settlement application for united states supreme court ruling transfer ownership to apparent investments l.a. times ny times involvement with storm financial edit in 2010 it was found that one of the townsville branches of the bank of queensland was giving loans to clients of the collapsed storm financial . 7 australian securities and investments commission undertook compensation suits on behalf of storm financial clients against the boq . 8 see also edit queensland portal companies portal banking in australia list of banks in australia financial system in australia references edit a b c d e boq group investor information 2014 annual results pdf . bank of queensland limited . 31 august 2014 . retrieved 19 october 2014 . denny thomas 19 march 2007 . bank of queensland offers to buy bendigo for 2 bln . reuters . thomson reuters . retrieved 26 february 2012 . a b c d e corporate information . bank of queensland . retrieved 26 february 2012 . stuart kelly 31 august 2007 . bank of queensland agrees to acquire home building . bloomberg . retrieved 26 february 2012 . eric johnston 14 april 2011 . bank of queensland profit stung by bad debts . the.age.com.au . fairfax media . retrieved 26 february 2012 . a b branson sells virgin money for 40m . news.com.au . 10 april 2013 . retrieved 30 april 2013 . fanning ellen . boq docs show problems with storm loans 60 minutes australia 4 june 2010 . retrieved on 6 june 2010 . elisabeth sexton 8 february 2012 . pair pin storm s fall on bank and asic failures . the sydney morning herald . fairfax media . retrieved 26 february 2012 . external links edit bank of queensland v t e banking in australia bank regulation australian prudential regulation authority australian competition and consumer commission australian payments clearing association four pillars policy central bank reserve bank of australia big four australia and new zealand banking group anz commonwealth bank of australia national australia bank westpac banking corporation other banks amp bank of melbourne wbc bank of queensland banksa wbc bankwest cba bendigo and adelaide bank cuscal defence bank heritage bank macquarie group me bank bank australia qt mutual bank rural bank suncorp st.george bank wbc teachers mutual bank victoria teachers mutual bank foreign banks arab bank bank of china beirut hellenic bank citibank australia hsbc bank australia ing direct investec rabobank non bank lenders rams wbc mortgage choice ge capital aussie home loans category banks of australia list of banks in australia financial system in australia economy of australia retrieved from https en.wikipedia.org w index.php title bank of queensland & oldid 742868220 categories banks of australiacompanies based in queenslandbanks established in 18741874 establishments in australiacompanies 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