Bendigo & Adelaide Bank managing director Marnie Baker says ANZ’s proposed $4.9 billion takeover of Suncorp’s banking arm is “not a good transaction for competition or consumers” as the parties await a final court decision on the transaction.

The Australian Competition Tribunal will on Tuesday deliver its verdict on the deal after ANZ and Suncorp appealed the Australian Competition and Consumer Commission’s rejection last year. The deal has hung in limbo for close to two years after ANZ first lobbed the bid in July 2022.