ANZ raising funds for A$4.9b Suncorp Bank acquisition, MYOB talks called off

ANZ will buy Queensland's Suncorp Bank for A$4.9 billion. (Image: Supplied)

Mon, 18 Jul 2022

Australia & New Zealand Banking Group will raise A$3.5 billion to help fund its purchase of Queensland rival Suncorp Bank.The dual-listed bank also ended talks about a potential purchase of accounting software firm MYOB.Melbourne-based ANZ said it entered into an agreement to buy Suncorp Bank for A$4.9b.The deal includes A$47b of home loans, A$45b of customer deposits and A$11b of commercial loans.Group chief executive Shayne Elliott described the deal as a “cornerstone investment” for ANZ and a vote of confidence in the future...

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