The freshly approved ANZ-Suncorp merger represents the biggest ownership shake-up in Australian banking since the financial crisis. Now, Australia’s small banking landscape is set for its own overhaul.
Street Talk understands Tasmania’s MyState and Bundaberg-based Auswide Bank have entered into a binding scheme implementation agreement, under which the two ASX-listed banks will merge to form a nationwide bank with $9.6 billion in customer deposits.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
