BOQ shares dip as HY profit slips to $175m

Bank of Queensland shares have slipped two per cent in early trade after the regional lender said its first-half cash profit had fallen two per cent to $175 million.The bank blamed strong competition for both loans and deposits for the fall in its cash profit, for the six months to February 28, from $179 million in the prior corresponding period.Statutory net profit fell six per cent to $161 million, Bank of Queensland said on Thursday.