ANZ’s Suncorp deal buys back lost market share

ANZ’s Suncorp deal buys back lost market share
Slow burn: what is ANZ ceo Shayne Elliott achieving with the Suncorp acquisition? (Image: Getty)
Pattrick Smellie
ANZ Bank’s A$5 billion ($5.5b) takeover of Suncorp’s Australian banking operations is effectively delivering ANZ four years of lost market share in a single transaction, Jarden analysts say in a note for investors today.While the deal made strategic sense, “it only sees it recover mortgage market share ceded over the past four years”, said chief economist Carlos Cacho and analysts Jeff Cai and Dave Anand.The bank would also be paying “a 20-40% premium for long-term low single-digit accretion”.“Relative...

More Finance

Court funding miss ‘undermines market confidence’
Finance

Court funding miss ‘undermines market confidence’

Plenary and Infrastructure NZ wrote to ministers over PPP ‘disappointment’.

Oliver Lewis 17 Sep 2025
Phasing out $6b capital layer unlikely to dent banks’ ratings
Finance

Phasing out $6b capital layer unlikely to dent banks’ ratings

Banks’ credit ratings likely unmoved if Additional Tier 1 capital phased out. 

Andy Macdonald 17 Sep 2025
‘Unusual’ volume of CCCFA changes in focus
Finance

‘Unusual’ volume of CCCFA changes in focus

Select committee mulls proposed changes to CCCFA, to report recommendations Oct 20.

Andy Macdonald 16 Sep 2025
Banks revise economic outlooks for Q2 GDP contraction
Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.

Andy Macdonald 15 Sep 2025