ANZ had two chances to overturn an ACCC rejection of its bid for Suncorp Bank. It only needed one, with the Competition Tribunal waving the bid through.
Bendigo and Adelaide Bank
ASX:BEN
ANZ will finally know tomorrow whether it will be allowed to buy Suncorp's bank. Bendigo and Adelaide Bank will be among those watching closely.
ANZ and Macquarie provided little new on bank earnings but all eyes will be on Commonwealth Bank for any slips in its high-wire act.
In just over a decade, payments fintechs have built a 25% market share in the big bank-dominated merchant payment processing sector, an opaque but crucial business.
Bendigo Bank argued in court last year that smaller banks cannot compete effectively with the big four. Newer challengers like Judo Bank and Alex see things differently.
If there was substantial data on market power, merger benefits or competition in the ANZ-Suncorp merger hearings it was either redacted or heard behind closed doors.
Hearings in a competition review of ANZ's play for Suncorp Bank have ended today much how they started, with debates of uncertainty and in the weeds of semantics.
The competition regulator says a merged ANZ-Suncorp would be 3.5x the size of its nearest rival outside the Big Four — Macquarie Bank.
Can smaller banks effectively compete in the home loan market with Australia's big four? According to one of the most prominent smaller lenders, the answer is no.
Bendigo & Adelaide Bank began its campaign for a merger with Suncorp Group's banking business in earnest in Australian Competition Tribunal hearings on Friday.
Day two of the big four bank's appeal of its rejected Suncorp Bank deal was all about market definitions. And fried chicken.
Major bank partnerships, raisings and actual profits signal there's some optimism in fintech, but capital and startups are in short supply.
Hearings in the second biggest merger battle in town got underway today, with lawyers for ANZ making the case that the rejection of its Suncorp Bank acquisition should be overturned.
Bendigo & Adelaide Bank has reaffirmed its desire to buy Suncorp Group’s banking business, confirming in a submission to the Australian Competition Tribunal it should be considered a “counterfactual” alternative acquirer to ANZ.
The banks have too much capital and not enough to do with it. The sector is clearly ex-growth and went downhill into the second half. So where now?
When you process mortgages and your name is a homonym of TikTok, confusion is inevitable. So Tic:Toc - not TikTok - is now Tiimely.
Competition authorities want more smaller banks in Australia. But economic forces are driving mergers and acquisitions to deliver scale.
As ANZ and Suncorp eye an appeal over their rejected banking deal a key question remains unanswered: What role will Bendigo and Adelaide Bank play in the process?
The relationship between banks and fintechs has not been helped by the rising rate cycle, but big bank bosses reckon the mutual attraction remains.
ANZ's appeal of the competition regulator's decision to block its $4.9 billion bid for Suncorp Bank will face an extended timeline due to its complexity.
Explanatory notes on how ANZ's appeal of the ACCC's decision to knock back its Suncorp Bank purchase will work.
NAB's third-quarter update brought with it another buyback, confirming that while extra capital is not needed to cover bad debts, it's also not needed to fund slowing growth.
The ACCC wants Bendigo, not ANZ, to buy Suncorp Bank. Funny then the idea didn't rate a mention during today's - pretty solid - Bendigo results.