ANZ - Suncorp Bank

Acquirer(s)

  • ANZ

Target(s)

  • Suncorp Bank

Summary

ANZ is proposing to acquire Suncorp Bank from Suncorp Group Limited.

The ACCC will commence a review of the proposed acquisition after we have received an application for merger authorisation from ANZ.

The ACCC’s review is expected to involve extensive consultation with market participants, interested parties and regulators and to carefully consider the likely competitive impact and any public benefits resulting from the proposed transaction on relevant banking markets and consumers.

The ACCC can grant merger authorisation if it is satisfied that either the proposed acquisition would not be likely to have the effect of substantially lessening competition, or the likely public benefit resulting from the proposed acquisition would outweigh the likely resulting public detriment.

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