Will 2009 bring more consolidation?

5 January 2009

1 minute read

CBA's acquisition of BankWest has been given the governmental green light, but how many other mergers will we see this year?

And with predictions that Westpac-St George alone could lead to 2000 layoffs, how many more jobs will be lost as banks tie the knot?

Bendigo and Adelaide Bank, Bank of Queensland and Suncorp look the most likely buyout targets. Bank of Queensland chief executive David Liddy said in December that his bank is open to some kind of partnership. But Bedigo seems set on staying solo.

CBA and ANZ tried unsuccessfully to court Suncorp last year. But just how long can the regional banks hold on? And should we be worried if more of them come under the control of the Big Four? Consolidate your thoughts below.

AUTHORAnonymous

Insider Comment

DE
DE99
10 January 2009
None of the regional banks will exist in their current form by the end of 2009... You heard it here first folks
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Pe
PeterJ
9 January 2009
Suncorp has just had a credit downgrade, making it even more vulnerable
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he
henty
7 January 2009
ANZ and NAB will be in bidding war for Suncorp soon enough
The French bank BRED Banque Populaire could be a potential bidder for BoQ - it's already got a 9% share.
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PJ
PJ
5 January 2009
The regional banks will all come under intense pressure from the Big 4 this year.
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Su
Sundown
5 January 2009
Suncorp is bound to be snatched up this year - it can't survive alone any more
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