‘Not satisfied’: ACCC rejects ANZ’s Suncorp Bank acquisition

‘Not satisfied’: ACCC rejects ANZ’s Suncorp Bank acquisition
The dual-listed ANZ Bank has been told no by the Australian regulator to the Suncorp merger. (Image: ANZ)
Staff reporters
Australia's competition watchdog has denied Australia & New Zealand Banking Group’s attempted merger with Queensland’s Suncorp Bank over decreased competition concerns.The dual-listed ANZ Bank released the statement from the Australian Competition and Consumer Commission (ACCC) on its denouncement of the merger authorisation to the market on Friday.ACCC deputy chair Mick Keogh said the commission wasn’t satisfied that the acquisition would “substantially lessen competition” when it came to small-to-medium e...

More Finance

Willis calls for select committee inquiry into banking
Finance

Willis calls for select committee inquiry into banking

She wants the Finance and Expenditure and Primary Production Committees to join forces.

Rebecca Howard 12 Jun 2024
Super spin and the greenwash cycle
Finance

David Chaplin: Super spin and the greenwash cycle

Aussie ruling could have implications for NZ markets. 

David Chaplin 12 Jun 2024
FMA seeking consultation on changes to DI licences
Finance

FMA seeking consultation on changes to DI licences

The FMA is seeking consultation on changes to the Derivative Issuer licenses

Staff reporters 11 Jun 2024
ComCom files criminal charges against Kiwibank
Finance

ComCom files criminal charges against Kiwibank

Banks must invest to get their systems right, says ComCom. 

Staff reporters 11 Jun 2024