ANZ Suncorp merger axed: top 12 questions answered
Customers and investors have plenty of questions about the takeover, the ACCC’s rejection and what comes next. Here are a few answers.
Anz Bank
ACCC blocks ANZ Suncorp takeover
ANZ’s plans to take over Suncorp’s banking arm have been dealt a massive blow after the competition regulator’s intervention.
ASX ends session up; falls 1.3pc over the week
Bourse rises slightly, but sees its first weekly loss in a month. China scraps barley tariffs. Suncorp down after ACCC blow to ANZ’s $4.9bn bank bid. Mesoblast tanks 55pc.
ACCC goes rogue with ANZ/Suncorp decision dithering
The competition regulator has combined arrogant lawlessness with stunning incompetence in its dithering over ANZ’s attempt to takeover Suncorp bank.
ACCC delays ruling on ANZ’s Suncorp bank bid
ANZ’s $4.9bn takeover of Suncorp bank hangs in the balance as the competition regulator secures a one-week delay on its ruling.
ASX flat; Core Lithium, South32 among losers
Energy, property stocks up. Suncorp to ‘support’ ANZ merger process amid ACCC delay. ‘Short-term risks’ weigh on Monadelphous. South32 flags $US1.3bn Hermosa hit. Core cuts output.
ANZ didn’t want ‘distraction’ of Suncorp, now it is all in
ANZ’s efforts to get one of the last remaining banking deals away hangs in the balance with a late push to delay the regulator’s ruling until early next month.
ACCC’s balancing act in the interests of fairness
The ACCC has raised preliminary concerns about another two mergers but must take some heart from the recent Telstra/TPG case.
ASX rises 3.7pc for week; biggest rise of 2023
A shift in sentiment sees bourse rise to a three-week high after its best week since November. Neuren soars on US expansion. Markets back Michele Bullock appointment.
‘This is a war every single day’: ANZ boss
Banking competition is so ‘fierce’, returns on equity and margins are hurting and it’s a constant war to win home loan customers, Shane Elliott says.
ASX rises 0.4pc; Incitec Pivot, miners rally
Energy and miners headline gains. Incitec Pivot jumps on takeover approaches. RBA to meet less in 2024. Bubs takes distributor fight to court. KMD warns of weak trading.
Want cash from your bank? Make an appointment
News that some ANZ bank branches have gone cashless has sparked customer anger, and changes are coming for everyone.
Cashless banks cheat customers of basic service
A move to end over-the-counter cash services at ANZ has prompted a customer backlash and questions over how far banks will push consumers.
ANZ leads surprise loan surge despite rising rates
ANZ is winning big volumes of mortgage business with cashback offers, as its three major rivals focus on profit and temper their competitive drive.
Suncorp boss in box seat for ANZ leadership
Suncorp Bank boss Clive van Horen is tipped as the likely replacement for ANZ’s Shayne Elliott when he departs – one of a series of moves at the big-four banks.
Aussie banks targeted in NZ probe
New Zealand’s competition watchdog will investigate personal banking services profits dominated by Australian majors, CBA, NAB, ANZ and Westpac.
Suncorp promises to keep Brisbane HQ after bank sale
Suncorp Group has promised to still call Queensland home if its $5bn bank sell off to ANZ is approved, and return a billion dollars to mum and dad investors.
KordaMentha hires money laundering prevention experts
Two operatives have been tapped by KordaMentha from TSB Bank and ANZ.
ASX up for fifth day; rises 1.8pc for week
Westpac forecasts ‘insipid growth’, cash rate peak of 4.6pc. AGL to more than double profit in FY24. Bank of Japan holds rates steady. Mineral Resources makes gas discovery.
Record immigration fails to lift consumer spending
Strong inflation and immigration growth has failed to prevent consumer spending from diving to a two-year low.
Original URL: https://www.theaustralian.com.au/topics/anz-bank/page/17