Suncorp

The competition watchdog is seeking further feedback before making a decision on ANZ’s proposed acquisition of Suncorp Bank.

The bank has reported a 5.2 per cent increase in home lending for its 2023 financial half-year results.

The consumer watchdog has made a “fatal mistake” when it knocked back ANZ’s $4.9 billion acquisition of Suncorp Bank, the counsel representing ANZ has told the competition tribunal.

ANZ’s proposed acquisition of Suncorp’s banking arm is now officially being considered by the competition watchdog, with a formal decision expected on 12 June 2023.

The competition watchdog “does not propose to seek review” of the competition tribunal’s decision to grant authorisation for ANZ to acquire Suncorp.

In this episode of Broker Daily Uncut, we sit down with Natalie Smith, general manager of retail broking at ANZ. Here, she delves into the upcoming merger with Suncorp, setting the record ...

The major bank has announced it has filed an application for the Australian Competition Tribunal to review ACCC’s acquisition denial.

The Australian Competition Tribunal will hand down its determination relating to ANZ’s proposed acquisition of Suncorp Bank today.

ACCC has denied authorisation for ANZ to acquire Suncorp Bank.

The Australian Competition Tribunal has overturned the ACCC’s decision to block the ANZ-Suncorp merger – giving it the green light to proceed.

The major bank has asserted that Suncorp Bank is not a “particularly important source of competition”, in a response to the ACCC’s concerns.

The two groups have signed agreements with the Palaszczuk government in order to support Queensland jobs and financial services sector.

Suncorp’s sale to ANZ would add to Australia’s banking “oligopoly”, Bendigo-Adelaide Bank has declared.

All four major banks plus Macquarie, Bendigo, Adelaide and ING will pass on last week’s 50-bp rate hike.

The ANZ-Suncorp merger is slated to kick off tomorrow (1 August). Speaking to Broker Daily, ANZ has driven home that it’s business as usual for the two organisations and brokers will ...