Bank Australia and Qudos Bank officially merge to create one of Australia’s largest customer-owned banks

From today Qudos Bank’s business transfers to Bank Australia Ltd. The Bank Australia and Qudos Bank brands will continue in the market, giving customers greater choice while maintaining the high-level of service and products they rely on.

Through the merger customers can expect reduced fees, an expanded branch network and investment in digital services for customers across the country.

With $18 billion in total assets and a workforce of nearly 900 employees, the merged bank will leverage its expanded scale and resources to offer a broader range of products and services, reduced fees and improved digital banking experiences.

Importantly, all employees remain 100% Australian-based, reinforcing the bank’s commitment to local jobs and operational excellence.

This successful merger follows the resounding support of members from both institutions, with each bank exceeding the required 75% threshold in the member vote. This endorsement reflects the shared vision and values Bank Australia and Qudos Bank.

Jennifer Dalitz, Board Chair, said:

“We’re excited to launch this new chapter together today. The successful merger of Bank Australia and Qudos Bank is a testament to the shared values and commitment of both institutions to customer-owned banking.

“I’m proud to lead a board that reflects equal representation from both banks, ensuring a balanced and inclusive approach to governance.

“This first year together is about bringing our two strong, customer-owned banks together in the right way. Our focus is on making the transition smooth for our customers, keeping what makes each bank special, and building a stronger, more sustainable bank for the future.”

Damien Walsh, Chief Executive Officer and Managing Director said:

“Today is a significant milestone in our journey. The merger of Bank Australia and Qudos Bank brings together two banks with a shared commitment to customer ownership, and positive social and environmental impact.

“We are excited to offer our members a broader range of products and services, enhanced digital capabilities, and an expanded branch network.

“Our focus remains on delivering exceptional value for our customers and keeping them at the centre of what we do. We’re committed to maintaining the high standards of customer service that both Bank Australia and Qudos Bank have been known for.”

Both Bank Australia and Qudos Bank have long-standing commitments to environmental sustainability, ethical banking, and community wellbeing. Bank Australia is a certified B Corporation and has committed to reaching net-zero emissions by 2035. These values will continue to be at the heart of the merged

bank’s operations, ensuring customers not only receive exceptional banking services but also contribute to a more sustainable and inclusive future.

As the merged bank joins together, customers can expect a seamless transition with no disruption to services.

Media enquiries: Bank Australia corporateaffairs@bankaust.com.au