Opinion
Shayne Elliott’s banking epiphany
ANZ’s tilt at Suncorp is a way for the Melbourne-based lender to claw back some of the share it has ceded in the crucial home lending market over the past four years.
Karen MaleyColumnistAfter more than six and a half years as ANZ’s boss, Shayne Elliott appears to have had an epiphany: the Melbourne-based bank desperately needs to bolster how much business it does with the country’s households and small and medium-sized businesses.
How else to explain ANZ’s apparent enthusiasm for forking out about $5 billion to acquire the banking business of the Queensland-based Suncorp Group?
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