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Why smaller banks want ANZ’s Suncorp deal stopped

The CEOs of Bendigo and Adelaide Bank and Judo Capital Holdings say the ANZ takeover of Suncorp Bank will be bad for competition. Their arguments deserve closer analysis.

Marnie Baker at Bendigo and Adelaide Bank and Joseph Healy at Judo Capital Holdings have commercial self-interests at stake when it comes to expressing opinions about ANZ’s $4.9 billion takeover of Suncorp Bank.

But that should not destroy the merits of their arguments against ANZ being allowed by the Australian Competition and Consumer Commission to extend the big four banking oligopoly.

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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com

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    Original URL: https://www.afr.com/chanticleer/why-smaller-banks-want-anz-s-suncorp-deal-stopped-20220719-p5b2po