ACCC blocks ANZ’s acquisition of Suncorp’s banking arm, citing competition concerns

The Australian Competition and Consumer Commission recognised Suncorp would benefit from focusing on insurance, but denied the acquisition due to concerns over increased mortgage rates and weakened competition among smaller banks.

Share

Accc blocks anzs acquisition of suncorps banking arm citing competition concerns
Picture of Editorial team

Editorial team

THIS PREMIUM INSIGHT IS FOR SUBSCRIBERS ONLY.

Stay ahead with precise, independent journalism of APAC's insurance markets.

Unlocked access today:

Already subscribed? Log in using the form below or click here

Read next

iccsc-unveils-new-action-plan-to-help-build-trust-in-singapores-insurance-sector
ageing-workforce-demands-employees-comp-rethink
beazleys-new-apac-head-looks-to-strong-growth-in-cyber-property-and-marine
singapore-life-industry-sees-strong-premium-growth-through-first-three-quarters-of-2024
gen-z-demongraphic-shift-highlights-need-for-flexible-insurance-products
sirc-2024-reflections-living-in-a-world-of-accelerated-risk
asia-insurtech-funding-falls-with-global-investment-expected-to-stabilise-at-us4-2bn-in-2024
what-the-us-election-result-means-for-asias-insurance-markets
industry-needs-to-adapt-and-reshape-image-to-attract-young-talent-canopius-report
1-1-renewals-reinsurers-stay-selective-as-buyers-market-emerges

Share this article