The state government has put ANZ on notice after it made a successful $4.9 billion bid to acquire Suncorp. 

Suncorp this morning announced it had accepted ANZ’s hefty bid, cementing a stronger foothold in Queensland for the Big Four bank.

But Treasurer Cameron Dick says the Palaszczuk government will be “driving a hard bargain” to ensure the new entity’s presence in Queensland is maintained.

ANZ has guaranteed not to close any branches or make major changes to staffing numbers for at least three years.

The acquisition will also face regulatory scrutiny from the competition watchdog.

Finance reporter Evan Lucas told Sofie Formica the acquisition has huge implications for consumers in Queenslanders.

“If you put the Big Four together as a whole, they make up to near-enough to 75 per cent of all banking in this country,” he said.

“It’s the Big Four and then it’s daylight, and I’m not exaggerating there, it is daylight between those four and … the rest.”

Press PLAY below to hear Evan Lucas’ view of the acquisition 

Image: Getty