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Suncorp Group Limited, known simply as Suncorp, is an Australian finance, insurance and banking corporation based in Brisbane, Queensland, Australia.It was formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC), and is one of Australia's mid-sized banks (by combined lending and deposits) and its largest general insurance group.
In July 2022, ANZ agreed to terms with Suncorp to purchase Suncorp Bank for $5 billion. [72] However, the Australian Competition & Consumer Commission (ACCC) blocked the deal in August 2023. [73] On 20 February 2024, the Australian Competition Tribunal overturned the decision by the ACCC, paving the way for ANZ to acquire Suncorp Bank. [74]
The merger also created Australia's fifth largest listed financial services group with the associated economic benefits of a major Australian corporate headquarters located in Queensland. The merger and amalgamation of the three companies was completed in 1999. In May 1999, the new brand, Suncorp Metway, launched.
ANZ Bank New Zealand Limited (or simply ANZ) is a New Zealand banking and financial services company, which operates as a subsidiary of Australia and New Zealand Banking Group Limited of Australia. ANZ is one of New Zealand's big four banks, and is the largest bank in New Zealand with approximately 30% of market share as of March 2021. [5]
The New Payments Platform (NPP), operated by New Payments Platform Australia Ltd (NPPA) [1] is an industry-wide payments platform for Australia. It became accessible to the general public on 13 February 2018 [2] with the introduction of PayID, an addressing capability, and Osko, [3] the first NPP overlay service, operated by BPAY.
The four pillars policy is an Australian Government policy to maintain the separation of the four largest banks in Australia by rejecting any merger or acquisition between the four major banks. [1] The policy, rather than formal regulation, first articulated in 1990, reflects the competitive concerns of more concentration as well as the broad ...
On December 22nd 2015, Auswide Bank announced a merger with the Brisbane based Queensland Professional Credit Union (trading as Your Credit Union). The merger was completed on May 20th 2016. [12] 2024 in August 2024 it was announced that Auswide Bank and MyState Financial, based in Tasmaina were seeking a merger [13]
Banking in Australia is dominated by four major banks: Commonwealth Bank, Westpac, Australia & New Zealand Banking Group and National Australia Bank.There are several smaller banks with a presence throughout the country which includes Bendigo and Adelaide Bank, Suncorp Bank, [1] and a large number of other financial institutions, such as credit unions, building societies and mutual banks ...