{"id":967,"date":"2024-01-31T12:24:49","date_gmt":"2024-01-31T12:24:49","guid":{"rendered":"http:\/\/courses24.co.za\/?page_id=967"},"modified":"2024-01-31T12:24:49","modified_gmt":"2024-01-31T12:24:49","slug":"does-anz-own-suncorp","status":"publish","type":"page","link":"https:\/\/uni1.co.za\/articles\/does-anz-own-suncorp\/","title":{"rendered":"Does ANZ own Suncorp?"},"content":{"rendered":"\n<div class=\"advads-atf\" style=\"margin-top: 15px;margin-bottom: 20px;\" id=\"advads-1222333768\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads atf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"8381596201\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div><p>Australia and New Zealand Banking Group\u00a0(ANZ.AX)\u00a0is owns the banking arm of insurer Suncorp Group\u00a0(SUN.AX)\u00a0for A$4.9 billion ($3.33 billion), as the smallest of Australia\u2019s major lenders seeks to revive growth at home after falling behind rivals.<\/p>\n\n\n\n<p>The deal announced on Monday will boost ANZ\u2019s retail presence in a fast-growing domestic region and increase its assets in mortgages, the most lucrative business for Australian banks, by nearly a fifth, helping it to overtake National Australia Bank Ltd&nbsp;(NAB.AX)&nbsp;for third spot in the business.<\/p>\n\n\n\n<p>ANZ had previously expanded rapidly in Asia, which it has been unwinding over the past few years. It lags Commonwealth Bank of Australia&nbsp;(CBA.AX), Westpac Banking Corp&nbsp;(WBC.AX)&nbsp;and NAB by market value and some other metrics.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.reuters.com\/pf\/resources\/images\/reuters\/article-prompt-bg.png?d=122\" alt=\"article-prompt-devices\"\/><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\">Register for free to Reuters and know the full story<\/h5>\n\n\n\n<p>\u201cIt\u2019s not offshore, it\u2019s not away from their core capabilities, in terms of acquisitions this is not a bad one,\u201d said Hugh Dive, chief investment officer at Atlas Funds Management, which owns shares of ANZ and Suncorp.<\/p>\n\n\n\n<p>ANZ aims to raise A$3.5 billion by issuing new stock to pay for the deal, in Australia\u2019s biggest equity capital raising of this year.<\/p>\n\n\n\n<p>The buyout, which is subject to regulatory approval, will boost ANZ\u2019s mortgage book by A$47 billion to A$307 billion. It shows how important mortgages are to Australia\u2019s banks even as rising interest rates and cost-of-living pressures throttle house prices, with many economists forecasting a recession within a year.<\/p>\n\n\n\n<p>ANZ missed most benefits of a COVID-19 driven real estate boom that saw home values leap by a quarter in the year to early 2024 due to delays in processing applications, analysts have said.<\/p>\n\n\n\n<p>The lender said separately it had dropped talks to buy accounting software maker MYOB from private equity firm KKR &amp; Co&nbsp;(KKR.N). ANZ had disclosed the talks a week ago.<\/p>\n\n\n\n<p>\u201c(ANZ\u2019s) acquisition appetite is troubling, given growing recessionary risks and ANZ\u2019s poor operational performance to date,\u201d Jefferies analyst Brian Johnson said in a client note.<\/p>\n\n\n\n<p>\u201cThe ANZ core franchise is already struggling, and adding more complexity during a period when MQG is driving up deposit costs looks ill-disciplined,\u201d he added, referring to mortgage challenger Macquarie Group Ltd&nbsp;(MQG.AX).<\/p>\n\n\n\n<p>Shares of ANZ were untraded as the bank readies its new stock issue. The new shares were being sold at A$18.90 each, a 12.7% discount to ANZ\u2019s closing price of $A21.64 on Friday, according to its filings.<\/p>\n\n\n\n<p>Shares of Suncorp, which has been trying to offload an asset deemed non-core, rose 5.7%, against a broader market gain of 0.6%. The company will return most of the sale proceeds to shareholders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">ANTITRUST REVIEW<\/h2>\n\n\n\n<p>The deal would represent a geographic expansion by Melbourne-headquartered ANZ into Queensland state, where Suncorp is based and has most of its business. ANZ sees itself as under-represented in Queensland and would keep the target\u2019s headcount and branding in the state for at least a few years, ANZ said.<\/p>\n\n\n\n<p>ANZ would also commit to funding a host of energy and infrastructure projects in Queensland, including some tied to the 2032 Olympic Games in its capital Brisbane.<\/p>\n\n\n\n<p>The deal would create a \u201csimpler, stronger platform for growth\u201d that \u201cdoes advance our strategic ambitions\u201d, ANZ CEO Shayne Elliott said.<\/p>\n\n\n\n<p>The purchase price amounted to 13.8 times past earnings for Suncorp\u2019s banking unit, ANZ said, below the price-earnings ratio of Suncorp\u2019s overall business but in the range of Australia\u2019s major banks.<\/p>\n\n\n\n<p>Suncorp Chairman Christine McLoughlin said the agreed price \u201cfairly values the bank\u201d and reflects the \u201cprogress made on delivering our strategic objectives\u201d.<\/p>\n\n\n\n<p>The deal presents the biggest task so far for new antitrust regulator Gina Cass-Gottlieb who started as chair of the Australian Competition and Consumer Commission (ACCC) in March. In a statement, the ACCC said its review of the deal would include the role of regional banks and competition with the majors.<\/p>\n\n\n\n<p>\u201cWe will consider Suncorp\u2019s role as an effective competitor and challenger to the major banks in Queensland and in other states,\u201d an ACCC spokesperson said.<\/p>\n\n\n\n<p>ANZ\u2019s Elliott said on a call with journalists that the bank hoped its status as the smallest of the major banks would help secure approval. \u201cWe look forward to making the case but we\u2019ll work through that over the coming months,\u201d he said.<\/p>\n\n\n\n<p>($1 = 1.4734 Australian dollars)<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.reuters.com\/pf\/resources\/images\/reuters\/article-prompt-bg.png?d=122\" alt=\"article-prompt-devices\"\/><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\">Register for free to Reuters and know the full story<\/h5>\n\n\n\n<p>Reporting by Byron Kaye in Sydney and Sameer Manekar in Bengaluru, with additional reporting by Scott Murdoch; Editing by Daniel Wallis, Richard Chang, Kenneth Maxwell and Muralikumar Anantharaman<\/p>\n\n\n\n<p>If Suncorp Bank was to move under ANZ\u2019s authorised deposit-taking institution (ADI) licence, it would mean that any account holders with separate ANZ and Suncorp accounts totaling more than $250,000 would no longer be fully covered under the Financial Claims Scheme though.<\/p><div class=\"advads-content\" id=\"advads-943470525\"><div style=\"width: 300px; padding: 20px; margin: 0 auto; border: 1px solid #ddd; border-radius: 8px; background-color: #f9f9f9; text-align: center; font-family: Arial, sans-serif;\">\r\n    <p style=\"font-size: 16px; margin: 0 0 10px;\">Need Information or Confused about Something ? <\/p>\r\n    <a href=\"https:\/\/onlineapplications.co.za\/ask\/\" style=\"display: inline-block; padding: 10px 20px; background-color: #007BFF; color: #fff; text-decoration: none; border-radius: 4px; transition: background-color 0.3s;\">Ask a Question<\/a>\r\n<\/div>\r\n<\/div><div class=\"advads-btf\" style=\"margin-top: 15px;margin-bottom: 20px;\" id=\"advads-592372738\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads btf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"5513273173\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div>\n<div class=\"advads-cpc\" id=\"advads-73619821\"><p>&nbsp;<\/p>\n<hr \/>\n<p>Sponsored Guide<\/p>\n<hr \/>\n<p><strong>Complete Guide to NSFAS Online Loan Application for South African Students (2025)<\/strong><\/p>\n<p>If you are a South African student looking to pursue higher education but are facing financial difficulties, the <strong>National Student Financial Aid Scheme (NSFAS)<\/strong> is one of the most accessible funding options available. NSFAS provides financial aid in the form of <strong>bursaries and loans<\/strong> to qualifying students at public universities and TVET colleges in South Africa.<\/p>\n<p>This guide will walk you through <strong>everything you need to know about the NSFAS loan application process<\/strong>, from eligibility requirements to application steps and frequently asked questions.<\/p>\n<hr \/>\n<h2>\ud83d\udccc What is NSFAS?<\/h2>\n<p>The <strong>National Student Financial Aid Scheme (NSFAS)<\/strong> is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.<\/p>\n<p>NSFAS <strong>offers both bursaries and income-contingent loans<\/strong>:<\/p>\n<ul>\n<li><strong>Bursaries<\/strong>: For eligible students who meet academic and household income criteria (especially for TVET and university students).<\/li>\n<li><strong>Loans<\/strong>: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.<\/li>\n<\/ul>\n<hr \/>\n<h2>\u2705 Who Qualifies for an NSFAS Loan?<\/h2>\n<p>To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:<\/p>\n<ul>\n<li>Be a <strong>South African citizen<\/strong>.<\/li>\n<li>Be <strong>financially needy<\/strong>, with a household income of <strong>less than R350,000 per year<\/strong>.<\/li>\n<li>Have a <strong>valid South African ID<\/strong>.<\/li>\n<li>Be <strong>enrolled or accepted<\/strong> to study at a <strong>public university or TVET college<\/strong>.<\/li>\n<li>Not be funded through another bursary program that covers all expenses.<\/li>\n<li>Maintain satisfactory <strong>academic progress<\/strong> (returning students).<\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcda Courses Funded by NSFAS<\/h2>\n<p>NSFAS primarily funds <strong>undergraduate qualifications<\/strong>, but certain <strong>postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB)<\/strong> may be considered under the <strong>NSFAS loan scheme<\/strong>, not bursaries.<\/p>\n<p>If you\u2019re studying:<\/p>\n<ul>\n<li><strong>Undergraduate degree or diploma<\/strong>: You are likely eligible for a full NSFAS bursary.<\/li>\n<li><strong>Postgraduate study<\/strong>: You may qualify for a loan, depending on the course and funding availability.<\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcc4 Required Documents for NSFAS Application<\/h2>\n<p>When applying, make sure you have the following documents scanned and ready:<\/p>\n<ol>\n<li><strong>Certified copy of your South African ID or Smart Card<\/strong>.<\/li>\n<li><strong>Parent(s) or guardian(s) ID documents<\/strong>.<\/li>\n<li><strong>Proof of income<\/strong> (latest payslips, UIF, or affidavit if unemployed).<\/li>\n<li><strong>Consent Form<\/strong> signed by your parent(s)\/guardian(s) to allow NSFAS to verify income.<\/li>\n<li><strong>Proof of registration or acceptance at a public institution<\/strong>.<\/li>\n<li><strong>Academic transcripts<\/strong> (for continuing or postgraduate students).<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\udda5\ufe0f How to Apply for an NSFAS Loan Online<\/h2>\n<h3>Step-by-Step NSFAS Online Application Process (2025)<\/h3>\n<ol>\n<li>\n<h3><strong>Visit the NSFAS Website<\/strong><\/h3>\n<p>Go to: <a href=\"https:\/\/www.nsfas.org.za\/\">https:\/\/www.nsfas.org.za<\/a><\/li>\n<li>\n<h3><strong>Create an Account<\/strong><\/h3>\n<ul>\n<li>Click on <strong>\u201cMyNSFAS\u201d<\/strong> and register your profile.<\/li>\n<li>You\u2019ll need a <strong>valid email address<\/strong> and <strong>South African cellphone number<\/strong>.<\/li>\n<li>Choose a strong password and verify your account via email or SMS.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Login and Start the Application<\/strong><\/h3>\n<ul>\n<li>After registration, log in to your <strong>MyNSFAS<\/strong> account.<\/li>\n<li>Click on <strong>\u201cApply\u201d<\/strong> to begin a new application.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Fill in Your Personal Details<\/strong><\/h3>\n<ul>\n<li>Input your <strong>ID number<\/strong>, name, surname, and other details exactly as they appear on your ID.<\/li>\n<li>Provide <strong>household income information<\/strong> and living arrangements.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Upload Required Documents<\/strong><\/h3>\n<ul>\n<li>Upload all supporting documents in <strong>PDF or JPEG format<\/strong>.<\/li>\n<li>Each document must be clear and under the size limit specified.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Submit Your Application<\/strong><\/h3>\n<ul>\n<li>Review your application for accuracy.<\/li>\n<li>Click <strong>\u201cSubmit\u201d<\/strong> and wait for a confirmation message.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Track Your Application<\/strong><\/h3>\n<ul>\n<li>Log in regularly to check your application status.<\/li>\n<li>You will be notified via SMS and email at each stage of the process.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\uddd3\ufe0f Important NSFAS Dates (2025)<\/h2>\n<ul>\n<li><strong>Application Opening Date<\/strong>: September 1, 2025<\/li>\n<li><strong>Application Deadline<\/strong>: January 31, 2026<\/li>\n<li><strong>Appeals Period<\/strong>: February 2026 (if rejected)<\/li>\n<li><strong>Disbursement<\/strong>: After registration and approval<\/li>\n<\/ul>\n<p><em>Note: Dates are subject to change; always confirm on the official NSFAS website.<\/em><\/p>\n<hr \/>\n<h2>\ud83d\udcb8 What Does the NSFAS Loan Cover?<\/h2>\n<p>NSFAS funding typically includes:<\/p>\n<ul>\n<li><strong>Tuition fees<\/strong><\/li>\n<li><strong>Registration fees<\/strong><\/li>\n<li><strong>Accommodation (if living away from home)<\/strong><\/li>\n<li><strong>Meals and transport<\/strong><\/li>\n<li><strong>Learning materials (e.g., textbooks)<\/strong><\/li>\n<\/ul>\n<p>For <strong>loans<\/strong>, repayment is only required <strong>once you start working and earn above a threshold<\/strong> (around R30,000 annually, but subject to change).<\/p>\n<hr \/>\n<h2>\ud83d\udd04 NSFAS Loan Repayment<\/h2>\n<p>Repayments are:<\/p>\n<ul>\n<li><strong>Income-contingent<\/strong> \u2013 you only repay when you can afford to.<\/li>\n<li>Administered by <strong>DHET (Department of Higher Education and Training)<\/strong>.<\/li>\n<li><strong>Interest-bearing<\/strong>, but interest rates are low and favorable.<\/li>\n<\/ul>\n<p>You can also apply for a <strong>partial loan conversion to a bursary<\/strong> if you perform well academically.<\/p>\n<hr \/>\n<h2>\ud83d\udd01 How to Appeal a Rejected NSFAS Application<\/h2>\n<p>If your application is rejected, you may submit an appeal via your MyNSFAS portal:<\/p>\n<ol>\n<li>Log into your MyNSFAS account.<\/li>\n<li>Click on <strong>\u201cTrack Funding Progress\u201d<\/strong>.<\/li>\n<li>If rejected, click on <strong>\u201cSubmit Appeal\u201d<\/strong>.<\/li>\n<li>Upload any missing or corrected documents.<\/li>\n<li>Provide a clear explanation or motivation.<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\udcf1 NSFAS Contact Information<\/h2>\n<ul>\n<li><strong>Website<\/strong>: <a href=\"https:\/\/www.nsfas.org.za\/\">https:\/\/www.nsfas.org.za<\/a><\/li>\n<li><strong>Email<\/strong>: <a href=\"mailto:info@nsfas.org.za\">info@nsfas.org.za<\/a><\/li>\n<li><strong>Toll-Free Number<\/strong>: 08000 67327 (Monday\u2013Friday, 8 AM\u20135 PM)<\/li>\n<li><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/myNSFAS\">@myNSFAS<\/a><\/li>\n<li><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/myNSFAS\">NSFAS<\/a><\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcdd Final Tips Before Applying<\/h2>\n<ul>\n<li>Apply <strong>early<\/strong> to avoid system overload near the deadline.<\/li>\n<li>Use <strong>your own email and cellphone number<\/strong> (do not use someone else\u2019s).<\/li>\n<li>Double-check that all your documents are <strong>certified and legible<\/strong>.<\/li>\n<li>Keep a <strong>copy of your submission confirmation<\/strong> for reference.<\/li>\n<\/ul>\n<hr \/>\n<p>By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams\u2014without the burden of immediate financial pressure.<\/p>\n<p>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Australia and New Zealand Banking Group\u00a0(ANZ.AX)\u00a0is owns the banking arm of insurer Suncorp Group\u00a0(SUN.AX)\u00a0for A$4.9 billion ($3.33 billion), as the smallest of Australia\u2019s major lenders seeks to revive growth at home after falling behind rivals. The deal announced on Monday will boost ANZ\u2019s retail presence in a fast-growing domestic region and increase its assets in\u2026 <span class=\"read-more\"><a href=\"https:\/\/uni1.co.za\/articles\/does-anz-own-suncorp\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-967","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages\/967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/comments?post=967"}],"version-history":[{"count":0,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages\/967\/revisions"}],"wp:attachment":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/media?parent=967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}