Chanticleer
Strange timing for Suncorp’s bank sale
Selling its banking operations could deliver a windfall for Suncorp shareholders. But it is strange to sell in the worst banking cycle in more than a decade.
Suncorp’s confirmation on Monday that it is reviewing the strategic alternatives for its banking operations raises numerous questions for shareholders and potential buyers of the business.
Why has the board picked the toughest time in banking since the global financial crisis to sell the bank? What will the sale of the bank mean for Suncorp’s medium- to long-term earnings? What will the board do with the estimated $5 billion in capital raised from the sale?
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