BRISBANE, Australia — More than 1.2 million customers, brokers and aggregators will be moved onto ANZ's banking systems by June 2027, with the Suncorp Bank brand set to be officially retired as part of one of the largest banking mergers in Australian history.

In a joint statement released Monday, ANZ and Suncorp confirmed that customers currently banking with Suncorp would begin transitioning to ANZ's network and branches, marking a significant step forward in ANZ's $4.9 billion takeover of the Queensland-based bank, more than two years after the acquisition was first completed.

David Koch, a finance commentator with Compare the Market, described the scale of the transition as one of the most significant shifts in Australian banking history.

"[It] could impact everyone from general banking customers to those with mortgages and other types of loans," Koch said, noting the change surpasses even Westpac's high-profile acquisition of St George Bank back in 2008 in terms of overall significance for the sector.

Koch urged affected customers to use the transition as an opportunity to review their broader financial arrangements.

"Whenever there's a major banking merger or migration, it's a good reminder for customers to take stock of their finances," Koch said, adding a caution that scammers could attempt to exploit the migration period by sending fake communications designed to trick customers into handing over sensitive financial information during the transition.

According to Mortgage Professional Australia, nothing is expected to change immediately for Suncorp Bank customers. Account holders will continue banking with Suncorp as normal until they are contacted individually........

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