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Bank of Queensland buying ME Bank in attempt to take on the big four – ABC News
The Bank of Queensland is vying to take on the big four after confirming that it will buy the industry super funds’ ME Bank for $1.3 billion.
The Bank of Queensland is vying to take on the big four after confirming that it will buy ME Bank for $1.3 billion.
Key points:
- Bank of Queensland is offering around $1.3 billion in cash to ME Banks owners, a group of industry super funds
- The deal will create a bank with $88 billion in assets and nearly 1.5 million customers
- BoQ says the deal will help it offer a “compelling alternative to the big banks”
BoQ has been in a trading halt since last week when it started raising funds for the speculated…
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