ANZ says the competitive landscape in Australian banking has changed sufficiently for it to buy Suncorp’s bank more than a decade after it first tried.
As the Melbourne-based bank now seeks to convince the federal treasurer, state government and the ACCC of the merits for Queensland and customers, chairman Paul O’Sullivan said new players like Zip and Afterpay have emerged to compete for banking services, opening up the field for more consolidation.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
