Bank of Queensland's George Frazis backs resilient economy but - so far - sees no mortgage stress

So far - despite aggressive interest rate rises and surging cost of living - banks are reporting few signs of mortgage stress.

But that might be around the corner as rate rises start hitting household budgets according to Bank of Queensland boss George Frazis as borrowers with supersized loans struggle to meet loan repayments.

Mr Frazis - who's delivered a 15 percent lift in full year profit to $426 million - concedes the housing market is rapidly cooling and there's already a noticeable slowdown in demand for loans.

We speak on ABC Newsradio