If they don’t then what is going to stop CBA/NAB/ANZ buying the remaining regional bank’s such as Suncorp/Bankwest/bendigo etc as a result. If this happens then we will be left with the 4 major Bank’s and a couple of ineffective non banks. Less competition then up go interest rate margins and fees and down go services. In other words the consumer will be totally screwed.

We need more competition in the Banking sector not less. St George is a fully competative Bank and their profitability will improve when the fuding markets open up again. Why doesn’t the reserve bank help with cheaper funding in the meantime?

This merger is all about greed and the number of senior executives holding St george shares who will profit from the merger.