Latest merger updates

Following the merger of Bank Australia and Qudos Bank in 2025, we’ll be working over the coming year to bring together our technology, products and services. Our focus is simple: to deliver the best possible experience for our customers.

As customer-owned banks, we’ve always put customers at the centre of everything we do. We share a strong commitment to people, planet and purpose. This integration is an opportunity to build on the strengths of both organisations and deliver even better outcomes for our customers and our employees.

Here you’ll find the latest information about how Bank Australia and Qudos Bank are coming together, what’s changing, and what it means for you.

Our commitment to you

The integration of key systems will provide a range of benefits to our customers including

Enhanced customer service 

Experience the same excellent customer service, but with access to a network of 15 branches across New South Wales, Victoria, Queensland and the ACT. 

Improved digital capabilities

Enjoy a more seamless banking experience thanks to greater investment in digital technology, customer service and security.

Long-term sustainability for customer-owned banking 

Bank Australia Limited's increased scale ensures the continued vitality of customer-owned banking, allowing them to offer competitive products and services. As well as being able to create even greater impact for people and planet on your behalf.  

Upcoming changes

Product simplification

On 1 May 2026, we streamlined our range of products so that customers will now receive the same benefits and criteria across both Qudos Bank and Bank Australia.

Payments upgrade

We improved our payment services, including Confirmation of Payee, to help customers check details before paying and feel more confident their money is going to the right place.

Why has Bank Australia chosen to merge with Qudos Bank?

Bank Australia and Qudos Bank have shared values and aligned commitments to customer benefit and positive impact. We believe Bank Australia and Qudos Bank coming together will see us create a better, stronger and more resilient bank. Choosing a values aligned merger partner is essential and we're confident that Qudos Bank is an ideal partner committed to positive impact and customer ownership.

A successful merger would allow us to deliver even better experiences and services for our customers, invest in technology, and increase the reach of our purpose-driven approach to banking to more Australians.

Merger timeline

There are a number of steps and approvals needed for the merger to proceed.

1 Feb 2024

In February 2024 we signed a Memorandum of Understanding (MOU) with Qudos Bank to formalise our intent to merge.

May 2024

From February to May both banks conducted due diligence and each Board agreed to continue to explore the merger

OCTOBER 2024

APRA application lodged.

21 March - 14 APRIL 2025

Member vote. Voting is now open for the proposed merger between Bank Australia and Qudos Bank. Vote now.

16 April 2025

Special General Meeting. Bank Australia's Special General Meeting (SGM) on our proposed merger with Qudos Bank will be held on Wednesday, 16 April at the State Library Victoria and online.

1 july 2025

Merge date. Should this merger be successful, the merged entity will begin from 1 July 2025.

How does the customer vote work?

Customers will be asked to vote on the proposed merger much like our AGM each year. Voting will be open through a third-party online platform prior to a customer vote.

Customers will be provided with a detailed Member Information Book closer to the voting period. This will contain detailed information about the benefits, risks, and financial implications of the merger for customers.

The vote must be approved by 75% of those members voting (whether in person or by proxy) for the merger to proceed.

This merger represents a significant opportunity to create one of Australia's largest customer-owned banks, enhancing our ability to serve you better and make a positive impact on our communities and the environment.

Frequently asked questions

Will we still be Bank Australia?
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The merged bank will operate as Bank Australia Ltd and maintain both Bank Australia and Qudos Bank brands in the period following the merger, with an intention to review the future brand strategy in due course.

Will the merger affect the customer ownership structure?
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No, the merged entity will continue to be 100% customer owned.

When would the proposed merger expected come into effect?
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Should this merger be successful, the merged entity will begin from 1 July 2025.

Will this affect Bank Australia’s public commitments like its 2035 net zero target?
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Key to the proposed merger is the values alignment between the two banks. The merged entity will maintain the public commitments of Bank Australia including:

  • Retaining B Corp status
  • Continuing with key parts of our impact strategies, including climate action and our net zero by 2035 target, nature and biodiversity and First Nations Recognition and Respect
  • Maintaining other existing public commitments including the responsible banking policy to guide what where we lend and invest
Will any branches be closed as a result?
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No, all 15 current branches will be retained and reviewed by the merged entity to support customer service requirements. Head office operations will be split between Collingwood (VIC) and Mascot (NSW).

What does a merger mean for products and services
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Customers will benefit from the merged bank’s approach to products and services, which will leave customers better off overall.

Over time as our systems are integrated, customers will gain access to a wider range of products and services as a result of the merger.

How will the merger affect employees?
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This is an exciting time for employees of both banks. We need our people more than ever, and everyone has a role to play now and in the merged entity.

Once combined, how big would the merged bank be?
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Bringing Bank Australia and Qudos Bank together would create an entity supporting 300,000 customers with total assets approaching $20 billion and served by almost 900 employees.

Who will be Chief Executive Officer (CEO)?
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If the merger proceeds, Damien Walsh (Bank Australia) will become Chief Executive Officer and Managing Director. An executive designate team for the merged bank has been appointed with representatives from Bank Australia and Qudos Bank in line with our merger of equals approach.

Who will be the Board Chair?
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The proposed Board is composed of Jennifer Dalitz (Qudos Bank) as inaugural Chair and Steve Ferguson (Bank Australia) as inaugural Deputy Chair of the merged entity. The merged Board will include equal representation from both banks and will ensure retention of the required skills and experience.