ANZ Bank has signed a deal to buy Suncorp’s banking arm for $4.9 billion, as the big four lender looks to expand in the lucrative retail banking market and increase its exposure to Queensland | clancyyeates
ANZ Bank has signed a deal to buy Suncorp’s banking arm for $4.9 billion, as the big four lender looks to expand in the lucrative retail banking market and increase its exposure to Queensland.
“The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland,” Elliott said. “Both businesses will benefit from a singular focus on their growth strategies and investment requirements,” McLoughlin said. “We believe the agreed price fairly values the bank and reflects the hard work of our people and progress made on delivering our strategic objectives.”
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