SUNPG News: Australia’s ANZ to acquire insurer Suncorp’s banking unit for $3.3bn - 18th Jul 2022, 3:37pm

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Australian lender ANZ has agreed to a A$4.9bn (US$3.3bn) deal to acquire insurer Suncorp’s banking arm in a bid to boost the size of its mortgage book as the country’s housing market cools. ANZ is one of Australia’s “Big Four” banks along with Commonwealth Bank, Westpac and National Australia Bank, but it has fallen behind some of its rivals over the past decade as they capitalised on the country’s housing boom. The Suncorp deal is the largest in Australia’s ba...

>>> Read more: Australia’s ANZ to acquire insurer Suncorp’s banking unit for $3.3bn