Truck Loans Australia :: News
SHARE

Share this news item!

ANZ Prepares to Finalize $4.9B Suncorp Acquisition

ANZ Prepares to Finalize $4.9B Suncorp Acquisition

ANZ Prepares to Finalize $4.9B Suncorp Acquisition?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

ANZ is poised to officially acquire Suncorp's banking sector on August 1, following recent modifications to Queensland's legislative framework essential for the $4.9 billion transaction.

This recent legislative amendment, formally known as the State Financial Institutions and Metway Merger Amendment Bill, was the last remaining obstacle. With this adjustment in state law, Suncorp’s banking division is now set to transition seamlessly into ANZ’s portfolio.

ANZ representatives stated that the legislative approval signals the final preparation phase for the acquisition, initially declared back in July 2022. Following this regulatory milestone, ANZ will integrate approximately 3000 employees and welcome 1.2 million new customers into their banking operations on August 1, 2024.

The deal, which was first unveiled almost two years ago, hinged upon critical endorsements from several authorities. These included the Treasurer's approval, receiving the green light from competition regulators, and necessitating specific legislative adjustments in Queensland. Now, with all boxes ticked, ANZ is prepared to absorb Suncorp's banking clientele and workforce.

Source: Original article on Suncorp Bank’s sale **Suncorp Bank sale clears last hurdle**. 15 July 2024.

Published:Thursday, 18th Jul 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Australia's Marine Industry Surges to $229 Billion Economic Output
Australia's Marine Industry Surges to $229 Billion Economic Output
05 Dec 2025: Paige Estritori
Australia's marine industry has demonstrated remarkable resilience and growth, achieving an economic output of $229 billion in 2023. This represents a 19% increase compared to two years prior, as reported by the Australian Institute of Marine Science (AIMS). The sector now supports 712,000 full-time equivalent jobs, marking a 52% rise in employment. - read more
Australia and Vanuatu Strengthen Ties with $325 Million Nakamal Agreement
Australia and Vanuatu Strengthen Ties with $325 Million Nakamal Agreement
05 Dec 2025: Paige Estritori
In a significant move to bolster regional partnerships, Australia and Vanuatu have signed the Nakamal Agreement, a $325 million bilateral treaty aimed at enhancing economic, security, and cultural cooperation. Named after Vanuatu's traditional communal meeting place, the 'nakamal,' this agreement underscores the deepening ties between the two nations. - read more
Austal Limited Boosts U.S. Shipbuilding with $100 Million EFA Loan
Austal Limited Boosts U.S. Shipbuilding with $100 Million EFA Loan
05 Dec 2025: Paige Estritori
Austal Limited, a prominent Australian shipbuilder, has secured a $100 million loan from Export Finance Australia (EFA) to enhance its shipbuilding operations in Mobile, Alabama. This strategic funding is earmarked for the development of the Final Assembly 2 (FA2) project, a significant initiative aimed at increasing Austal's capacity to construct vessels for the U.S. Navy and Coast Guard. - read more
RBA's Interest Rate Reduction: A Boon for Australian SMEs
RBA's Interest Rate Reduction: A Boon for Australian SMEs
05 Dec 2025: Paige Estritori
The Reserve Bank of Australia's (RBA) recent decision to reduce the official cash rate by 25 basis points to 3.60% presents a significant opportunity for small and medium-sized enterprises (SMEs) across the nation. This adjustment, aimed at addressing moderating inflation and a tight labour market, is set to lower borrowing costs, thereby facilitating business growth and expansion. - read more
Australian SMEs Embrace Non-Bank Lenders for Flexible Financing
Australian SMEs Embrace Non-Bank Lenders for Flexible Financing
05 Dec 2025: Paige Estritori
In a significant shift within Australia's financial landscape, small and medium-sized enterprises (SMEs) are increasingly opting for non-bank lenders to meet their financing needs. Recent data indicates that demand for non-bank lending among SMEs has reached 55% in 2025, marking a substantial increase from previous years. - read more


Truck Loans Articles

Understanding Your Options: A Guide to Commercial Vehicle Loans in Australia
Understanding Your Options: A Guide to Commercial Vehicle Loans in Australia
If you're running a business in Australia, choosing the right commercial vehicle loan can be pivotal to your success. Whether you're a small business owner needing a delivery van or a large company expanding your fleet, understanding your financing options is crucial. - read more
5 Tips on Securing Low-Interest Rates for Your Vehicle Purchase
5 Tips on Securing Low-Interest Rates for Your Vehicle Purchase
Embarking on the journey of acquiring a commercial vehicle is a significant decision for any business. Securing a loan with a low-interest rate is not just a matter of luck; it involves meticulous planning and a thorough understanding of the lending landscape. This opening section sets the scene for our deep dive into navigating the commercial vehicle loan process with an eye toward minimizing costs and maximizing value. - read more
The Commercial Buyers Guide to Buying a Used Truck in Australia
The Commercial Buyers Guide to Buying a Used Truck in Australia
With the evolution of the logistics industry and small businesses gaining momentum in Australia, the market for used trucks has witnessed substantial growth in recent years. This surge is a testament to the pivotal role commercial vehicles play in driving the economy forward, keeping supply chains agile and businesses thriving. - read more
Maximizing Your Fleet Potential: How Truck Financing Shapes Success
Maximizing Your Fleet Potential: How Truck Financing Shapes Success
Trucks play a pivotal role in the Australian logistics and transport industry, serving as the lifeblood that keeps commerce flowing. The dependable rumble of engines crisscrossing the nation's highways is more than just a symbol of industry; it's a critical component of productivity and economic stability. Without these workhorses facilitating the timely movement of goods, the Australian market would face significant challenges meeting the demands of both businesses and consumers alike. - read more
The Pros and Cons of Leasing vs. Buying a Truck for Your Business
The Pros and Cons of Leasing vs. Buying a Truck for Your Business
Small businesses that require regular transportation of goods may find it essential to purchase a truck. However, this acquisition can become a significant investment that requires careful consideration before making a decision. The two options available are buying or leasing a truck. In this article, we will explore the pros and cons of each option to help you make an informed choice. - read more


Start Here

Get a free truck loan eligibility assessment and compare truck finance and leasing options without accessing your credit file!!
Loan Amount:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Jumbo Loan:
A mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA).