Original article by Joyce Moullakis
The Australian – Page: 13 & 16 : 4-Jan-23

The Australian Competition & Consumer Commission is currently assessing the ANZ Bank’s proposed deal to acquire Suncorp Group’s banking arm. Sources have indicated that the ACCC has requested information and data from the nation’s major and regional banks as part of the process, using its compulsory powers under the Competition and Consumer Act 2010. This information is said to include bank returns, net interest margins, funding costs and market share. The ACCC is seeking submissions on the ANZ deal by 18 January, and it aims to make a final decision on the transaction in June.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ,SUNCORP BANK,SUNCORP GROUP LIMITED – ASX SUN,AUSTRALIAN COMPETITION AND CONSUMER COMMISSION