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ANZ’s agreement to acquire Suncorp Bank

ANZ today announced an agreement to acquire Suncorp Bank from Suncorp Group Limited, accelerating the growth of its Retail and Commercial businesses while also improving the geographic balance of its business in Australia.

ANZ Chief Executive Officer Shayne Elliott said: “The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland.


“With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders.


“We have admired the transformation that has occurred under the leadership of Steve Johnston and Clive van Horen and believe Suncorp Bank is a natural fit with ANZ given its culture, risk appetite and customer focus.


“ANZ has licenced the Suncorp Bank brand for five to seven years and we are committed to maintaining its current branch footprint in Queensland for at least three years post completion."


Click through the stories below to learn more about the proposed acquisition and ANZ’s commitment to Queensland, as well as further information about what the deal means for customers, staff and shareholders.


Full media release





Elliott: betting on Queensland, accelerating ANZ strategy


ANZ CEO says acquisition of Suncorp Bank is an investment in the bank’s Retail and Commercial operations, and the state of Queensland. 



Elliott: a transformational advance for ANZ


Suncorp Bank is a terrific franchise and a natural fit with ANZ, according to CEO Shayne Elliott.



Faruqui: value in Suncorp acquisition


ANZ CFO Farhan Faruqui says Suncorp Bank is an attractive opportunity while ANZ businesses performed well this quarter.



Helping Queensland capitalise on its moment in the sun

ANZ’s acquisition of Suncorp Bank will significantly increase its exposure to the Sunshine State at a very important time.



Behind the scenes of a major bank deal


See how ANZ CEO Shayne Elliott spent announcement day of ANZ’s agreement to acquire Suncorp Bank in this photo gallery.