According to the Australian newspaper, spending on IT and related technologies rose by 9.3 per cent over a 12-month period, with the bank parting with a total of AUS$56.4 million (Â£22.74 million) in order to increase its capability in data processing.
Bank of Queensland's processing costs have increased significantly over the year, rising from AUS$31 million a year ago to AUS$38.5 million, the newspaper reports.
The bank said in its accounts that it expected to spend more on IT systems in the future.
"The bank will continue to provide a wide range of banking and financial services for the benefit of customers, expanding and developing these where appropriate," it said.
"This will require further investment, particularly in systems and information technology."