Original article by Glen Norris
The Australian – Page: 15 : 5-Dec-23

The ANZ Bank’s appeal against the blocking of its deal to buy Suncorp Bank continued before the Australian Competition Tribunal on Tuesday. Cameron Moore SC, who is representing Suncorp Group, contended that the $4.9bn deal would not undermine competition in the banking sector, as Suncorp Bank is a relatively small player that had until recently been losing market share in its home state of Queensland. He also argued that a merger between Suncorp Bank and Bendigo Bank would not make financial sense for shareholders of either company.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SUNCORP GROUP LIMITED – ASX SUN, SUNCORP BANK, AUSTRALIA. COMPETITION TRIBUNAL, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN

Original article by James Eyers
The Australian Financial Review – Page: 18 : 14-Jul-21

National Australia Bank has emerged as a potential buyer of Citigroup’s local consumer banking business. NAB has advised that it is holding talks with Citigroup but stresses that a deal may not eventuate. Citigroup has an 11 per cent share of Australia’s credit card market, making it the fifth-biggest player in the sector, while it holds $5.5bn worth of household deposits and some $6.6bn worth of home loans. Australian Competition & Consumer Commission chairman Rod Sims recently indicated that it would closely scrutinise any bid for the Citigroup assets by one of the nation’s major banks.

CORPORATES
NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CITIGROUP PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION