CANBERA (dpa-AFX) - Australia's Federal Treasurer has approved Australia and
New Zealand Banking Group Ltd's (AN3PG.AX, ANZ.AX) proposed A$4.9 billion
acquisition of Suncorp's banking arm.

The approval by the Federal Treasurer follows the decision of the Australian
Competition Tribunal to authorize the proposed acquisition on 20 February 2024,
and passage of the State Financial Institutions and Metway Merger Amendment Bill
in the Queensland Parliament on 14 June 2024.

Completion of the acquisition remains subject to the commencement of the
Queensland State Financial Institutions and Metway Merger Amendment Act, which
upon proclamation will amend the Metway Merger Act to fulfil the remaining
condition to facilitate the proposed acquisition.

Once this occurs, completion of the acquisition is expected to occur at the end
of July.

ANZ entered an agreement to purchase Suncorp Bank in July 2022.



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