The Australian Competition Tribunal (ACT) has authorised ANZ's proposed acquisition of Suncorp Bank. The move comes after ANZ and Suncorp Group applied to the ACT for a review of the Australian Competition and Consumer Commission's (ACCC) earlier decision not to authorise the acquisition in August 2023. ANZ CEO Shayne Elliott hailed the decision as a "significant milestone" and an "important step forward in the process", but noted that further conditions still need to be met.

Elliott remains committed to completing the acquisition as soon as all sale conditions are met. He praised Suncorp Bank as a "high-quality business with a strong team and excellent customer base", and expressed eagerness to provide them access to ANZ's platforms and technology. Elliott is optimistic about the acquisition, believing it presents "significant opportunities for ANZ, Suncorp Bank and our customers, as well as major public benefits including for Queensland".

The completion of the acquisition is still subject to legislative amendments by the Queensland Parliament and approval by the Federal Treasurer. ANZ entered an agreement to purchase Suncorp Bank in July 2022, with the aim of accelerating the growth of ANZ's retail and commercial businesses and offering better outcomes for Suncorp Bank customers.