Who will buy BankWest and Suncorp?

2 October 2008

1 minute read

With its UK parent company HBOS in turmoil, what will be the fate of BankWest? And what of Suncorp? The firm is understood to have received several informal approaches from CBA and ANZ.

Rumours, denied by BankWest, are circulating that CBA is interested in putting in an offer for BankWest, too. (Sydney Morning Herald).

Will these two regional banks go the way of St George and be swallowed up by one of the big four? And if so, is it inevitable that more jobs will be lost in any merger? Tell us your thoughts below.

AUTHOReFinancialCareers Australia

Insider Comment

Be
Bendigo
3 October 2008
Bendigo Adelaide Bank could be a target too, all be it a small one.
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Fr
Fred
3 October 2008
Suncorp needs to recapitalise its balance sheet - it could be a target
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Qu
Quote
3 October 2008
ANZ, for one, will NOT be snapping anyone up -
"The chief of ANZ's Australian operations, Brian Hartzer, said yesterday the bank's current share price was too weak to consider being a major player in the financial sector's potential phase of consolidation."
Reply
Mr
MrBanker
2 October 2008
there's always some truth in these rumours - all the big 4 banks will have done their homework on these two and one of them will pounce, maybe even later this month.
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Y
Y
2 October 2008
One of the big 4 will snap them up for sure - it's only a matter of time. They are vulnerable in the current climate.
Reply