sydneybank of queensland ltd said its halfyear net profit rose by 38 driven in part by a focus on costs and lower loanimpairment expenses the australian regional bank on thursday reported a net profit of 212 million australian dollars us158 million for the six months through february up from a154 million a year earlier cash earnings at boq a measure tracked by analysts that excludes certain costs and onetime items rose 14 on year to a268 million the company declared an interim dividend of a022 a share compared to a017 a share the year before our capital strength has enabled our business to grow and to invest in our transformation our asset quality remains sound with prudent collective provisioning levels said chief executive george frazis boqs operating expenses declined 3 to a461 million in the first half of fy 2022 compared to the prior period loanimpairment expense was a credit of a15 million in the half which the lender said reflected a more favorable economic outlook the lenders net interest margin fell by 12 basis points to 174 versus the second half of fy 2021 while its common equity tier 1 capital ratio was 968 12 basis points lower than the second half of fy 2021