Why Suncorp transaction is necessary for ANZ.
The "unique opportunity" that Suncorp's bank and its 1.2 million clients present to Australia's smallest big bank is something that hayne Elliott is keen to emphasize.
According to professionals we reached out to on Monday, the deal won't offer ANZ much clout in either the Queensland market or the national market, and the answer to both is no.
Instead, the bank will contend that the enhanced market power of both Suncorp and ANZ, which would increase competition for the majors, will help small businesses and other clients.
Giving any of the big four banks additional power will not be done lightly, therefore the ACCC will approve the merger while gritting its teeth.
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