No, Qudos Bank and Bank Australia coming together is not a buyout or a takeover. This is a true merger of equals between two customer-owned banks that will remain 100% customer-owned. This is reflected in the balanced representation from both banks across both the Board (the current Chair of Qudos Bank, Jennifer Dalitz will be Chair of the Board of the merged group) and executive level with head offices in both Collingwood (VIC) and Mascot (NSW).
The proposed merger is a proactive, strategic choice by the Board to ensure the history and service ethos of Qudos Bank can be maintained and enhanced for members well into the future. After careful consideration, we believe Bank Australia is the ideal merger partner because of the strong alignment of both banks’ values, culture and purpose. By combining our strengths and upholding our values, we will continue our commitment to customer ownership and operate as a customer-owned bank.
You can find more detailed information about the Merger and the Merger process in the Member Information Booklet available on our website.
We acknowledge the Traditional Owners of the lands on which we operate and pay our respects to Elders past and present, and to emerging community leaders. We also acknowledge the important role Aboriginal and Torres Strait Islander peoples continue to play within the communities in which Qudos Bank operates and where our team members reside.
