ANZ completes acquisition of Suncorp Bank

ANZ today confirmed it has completed its acquisition of Suncorp Bank.

ANZ Chief Executive Officer Shayne Elliott said: “Today is an exciting day for the ANZ Group, as we complete our acquisition of Suncorp Bank.

“This strategically important acquisition boosts our presence in Queensland, adds scale to our Retail and Commercial businesses, and means we can compete more effectively across the Australian market.

“Tomorrow we will welcome the roughly 3,000 strong Suncorp Bank team and their 1.2 million customers into the ANZ Group.

“Suncorp Bank customers will continue to receive the same great service, from the same exceptional Suncorp Bank staff. Over time, we will make available to them ANZ’s newest technology, giving them access to the very latest in banking services.

“Our acquisition demonstrates our commitment to Queensland and Queenslanders. We look forward to playing our part to help Queensland to continue to grow and prosper,” Mr Elliott said.

Completion of the acquisition follows the commencement of Queensland legislation amending the Metway Merger Act today, approval of the acquisition by the Federal Treasurer on 28 June 2024 and authorisation under Australia’s competition laws by the Australian Competition Tribunal on 20 February 2024.

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