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Shayne Elliott says ANZ has spent seven years shaping up for a deal like this.

ANZ’s ‘once-in-a-lifetime’ deal comes with complexity

Shayne Elliott says seven years of simplification has set ANZ up for the $4.9 billion acquisition of Suncorp’s bank. But with growth comes complexity.

  • 15 mins ago
  • James Thomson
Suncorp CEO Steve Johnston and ANZ CEO Shayne Elliott.

‘We feel dwarfed by CBA’: ANZ’s $25b bet on Queensland

Shayne Elliott said the Suncorp acquisition would help it compete with Australia’s biggest bank, as he pledged to fund the state’s energy transition.

  • 41 mins ago
  • James Eyers, Ayesha de Kretser and Liam Walsh
ANZ chief executive Shayne Elliott announcing his takeover bid for Suncorp Bank.

ANZ is paying for Shayne Elliott’s failure

The playbook at ANZ Banking Group only gets more surreal.

  • 45 mins ago
  • Joe Aston
After losing so much market share in the critically important mortgage market, ANZ was under pressure to do something big.

Why rivals are cheering Shayne Elliott’s Suncorp tilt

ANZ boss Shayne Elliott says he’s ‘not going to be distracted’ by the Suncorp acquisition at a time when rival bankers are gearing up for the refinancing wars.

  • 49 mins ago
  • Karen Maley
ANZ chief executive Shayne Elliott expresses relief as ANZ finds an option for growth.

ANZ to decide on ‘painting Queensland blue’

ANZ is ready to paint the town blue, but investors are conscious of the timing and cost.

  • 1 hr ago
  • Ayesha de Kretser and James Eyers
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Suncorp chair Christine McLoughlin and ANZ chair Paul O’Sullivan sell the benefits of the deal.

Why ANZ needs the Suncorp deal

There will be plenty of execution challenges in the $4.9 billion deal in a tough new era for the economy and the banking and financial services industries.

  • 1 hr ago
  • Jennifer Hewett

Financial advisers question Hostplus returns

Critics have queried Hostplus being crowned Australia’s best balanced superannuation fund over one- and ten-years, saying the rankings rely on unpublished valuations of unlisted assets.

  • Aleks Vickovich and Lucy Dean
Suncorp says the sale of the banking arm will allow it to focus on insurance, which is increasingly affected by disasters like flooding this year.

Suncorp’s bank sale raises scrutiny on insurance arm

The bank sale might help Suncorp focus, but will investors close a historical discount against its insurance rival IAG?

  • Liam Walsh
Suncorp boss Steve Johnston believes it’s the right time to sell the group’s bank.

ANZ deal delivers Suncorp three big wins

Suncorp has extracted a solid price for its bank from ANZ. But the biggest benefits of the deal stem from becoming a standalone insurer. 

  • Updated
  • James Thomson
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What the ANZ, Suncorp deal means for shareholders

ANZ is seeking $3.5 billion from its shareholders to buy Suncorp’s banking unit. But how will the deal be done and is it a good one for its smaller shareholders?

  • Jonathan Shapiro

ANZ to buy Suncorp bank in $4.9b ‘cornerstone’ deal

The bank confirmed its raising fresh capital to finance its $4.9 billion purchase of Suncorp Bank and pledged to keep its branches open for three years.

  • Updated
  • Liam Walsh, James Eyers and Ayesha de Kretser
Street Talk.

Listed explorer Marmota Limited in share placement

Listed South Australian explorer Marmota Limited was asking investors to tip in $5 million for work at its projects.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk.

Macquarie, UBS launch ANZ Bank’s $3.5b raising

ANZ Banking Group shares won’t trade until Thursday, allowing time for the group to go cap in hand to shareholders with a $3.5 billion raising. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Shayne Elliott has previously blamed a risk averse culture for the loss of market share in home loans.

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 Maley
Gina Cass-Gottlieb will have a close look at ANZ’s takeover of Suncorp’s bank.

ANZ/Suncorp deal will be first test for new ACCC boss

The watchdog has long bemoaned the market power of the big four banks, but proving that an ANZ takeover of Suncorp will substantially lessen competition may prove complex. 

  • James Thomson
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Flooding again hit NSW this month, with implications for insurers.

What a car smash reveals about insurers and inflation

Odd things are turning up on settlements – market values are more than the owners paid for the vehicle when they bought it new seven years earlier. Here’s why.

  • Liam Walsh

Yesterday

Street Talk.

ANZ pushes for shareholder friendly $3.5b raising

ANZ Banking Group’s board has pushed back against nervy underwriters, demanding a renounceable entitlement offer for its $3.5 billion equity raising slated to launch on Monday morning. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
EML Payments offers prepaid payments cards.

EML Payments keeps bankers close as swoopers circle

The sharks are circling bombed out EML Payments – but much to their chagrin the company’s board hasn’t been all that keen to take them seriously. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Kiwi Wealth is a default KiwiSaver provider, with about $NZ9 billion in its scheme.

Bain, Nomura bankroll TA bid for Kiwi Wealth

Suitors have been told the retirement savings outfit and its bankers should have a winning bidder this week.

  • Anthony Macdonald, Sarah Thompson and Kanika Sood
Victoria’s Bendigo and Adelaide Bank has been trying to get Suncorp’s attention.

Bendigo Bank left waiting on Suncorp’s doorstep

While ANZ Banking Group homes in on a deal to acquire Suncorp’s bank, junior rival Bendigo and Adelaide Bank is stuck on the sidelines looking increasingly frustrated. 

  • Anthony Macdonald, Sarah Thompson and Kanika Sood