ANZ to acquire Suncorp Bank from Suncorp Group for $3.3bn.

ANZ, an Australian banking and financial services company, agreed to acquire Suncorp Bank, a financial services provider, from Suncorp Group, an Australian finance, insurance, and banking corporation, for $3.3bn. “The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland. With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders,” Shayne Elliott, ANZ CEO.