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ANZ Agrees to Buy Suncorp’s Bank Operations for $3.3 Billion

  • Bank seeking to raise A$3.5 billion to help fund acquisition
  • Lender is considering deals as it aims to add customer growth
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WATCH: Steve Johnston, CEO at Suncorp, discusses ANZ Banking Group’s agreement to buy its banking operations for $3.3 billion.Source: Bloomberg
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Australia & New Zealand Banking Group Ltd. agreed to buy Suncorp Group Ltd.’s banking operations for A$4.9 billion ($3.3 billion) as it seeks to gain an edge over larger rivals by expanding in the country’s fastest growing region.