The Bank of Queensland has a long and rich history that was cantered within Queensland until recently. Today, however, the bank has extended its reach into the whole of Australia, and offers customers retail and commercial banking services that include merchant services and personal accounts as well as credit cards and loans. The bank has introduced the owner-manager branch concept, a business model that is similar to a franchise relationship for the financial services industry. Although this business model is still undergoing debate, it has helped the bank gain rapid access to new markets; the bank's growth through acquisition strategy has had similar results, although the bank has taken on a significant amount of debt as result of some of those acquisitions.
Although a strong ongoing concern overall, the bank faces challenges from its strategic alliances with some third-parties and its association with some scandals within the country, most notably the Storm Financial issue. The bank nonetheless has positive potential and a good ethical foundation with which to build its long-term organization. Indeed, its success has gained the attention of its major competitors to the point that the Bank of Queensland may itself be acquired at some point in the future.
The Bank of Queensland traces its history back to 1874 and is now one of Australia's Top 100 companies. Since 2007, the financial institution has established and maintained branches in every state and territory with in Australia, and the bank has incorporated several acquisitions successfully. The Bank of Queensland has built its reputation and institution on a bedrock of active participation in the local community, and by successfully combining commercial and personal banking. The bank is also renowned for its owner-managed branches, a unique structure in banking. This commitment to the local community does not mean that the institution has over...