BEN

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$12.26 bendigo and adelaide bank limited

Ann: Interim result announcement, page-64

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brightpower

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28/02/19

07:48

Post #: 37595934
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Originally posted by bendigo: ↑

Hi mechanic
Disagree that ACCC would have objections to further bank mergers
To strengthen the overall competition, they would very much be in favour of a merger between 2 of the second tier banks to make them stronger and more competitive with the big 4.
Ditto, for the same reason the Gvt would also be in favour.

There was an article in the AFR canvassing this in the last few days.
But IMO, typically the journalists got it 100% wrong.
All the talk was about a possible merger between BOQ and SUN
Combined, the merged entity would be over represented in QLD, and do little to increase their overall presence nationally
And it would probably lead to the closure of a number of competing branches in QLD where they were close to each other.

A far more sensible merger would be one of the above with BEN.
Although BEN has branches all over including QLD, their main strength and presence is in Victoria.
The other two are under represented in VIC
Such a merger would mean a much larger bank on a national scale.

As most would be aware, BOQ did make unwelcome preliminary advances to take over BEN some years ago.
BEN very imprudently at the time as a defensive move, rushed off and took over the Bank of Adelaide.
BEN got a lemon/ pig ( call it what you will) and has never fully recovered from this ridiculous move.

Looking into this possible merger touted in the AFR further.
I’m not sure the BOQ and BEN banking models which are somewhat different
woud fit in well together anyway.

My thinking is the most logic merger would be BEN with the banking arm of SUN.
Lots of possible synergies, including all BEN branches becoming agents for SUN insurance products.
Would greatly strengthen SUNS insurance arms / reach....a win win.
And the combined bank would have a much greater clout to compete with the big 4
But probably right now SUN doesn’t want to sell off its banking arm anyway.
..........
Regarding the new MD
I’m told she is excellent.
But she needs some professional media coaching
to equip her to handle those bastard financial journalists.
A very reasonable idea imo.

Expand

Agree with the BEN/SUN merger,very logical.The merged entity could then list the combined banking businesses on the ASX excluding insurance business, and even approach AMP to buy AMP bank.The end result would have three banks covering the eastern seaboard. Don't rule out MQG as a participant in any of this ie they could snap up BEN with minimal balance sheet stress. With the major banks looking to divest wealth businesses post Hayne,there will be a focus to grow pure banking so there will be some m&a activity.

BEN Price at posting: $9.79 Sentiment: Buy Disclosure: Held
3 Upvote

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Last $12.26		Change -0.040(0.33%)		Mkt cap ! $6.963B

Open	High	Low	Value	Volume
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