Business Services Industry
AUSTRALIA'S BANK OF QUEENSLAND SET FOR US$16 MLN FY PROFIT.
AsiaPulse News, August, 2002
BRISBANE, Aug 26 Asia Pulse - Bank of Queensland Ltd (ASX:BOQ) expects to meet market expectations with a net profit of between $A25 to $A30 million ($US13.49 to $US16.18 million) for the full year ending August 31, 2002.
The regional bank also today settled a long-running legal dispute with a Bermuda-based company Metyor Inc over a soured ATM deal.
Bank of Queensland had been sued for up to $A500 million ($US269.75 million) in damages and compensation last October by its former ATM joint venture partners Metyor Inc, based in Hamilton, Bermuda, and previously known as Talisman Technologies, and Saracen Financial Services.
The matter was settled today in the Supreme Court in Brisbane and the bank will pay Metyor $A3.5 million ($US1.89 million) in...
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