The Suncorp Group is Australias 6th largest bank and 3rd biggest general insurance group, with assets of $91.8 billion and more than 7 million customers.
The Groups acquisition of GIO and AMPs general insurance business in 2001 increased the customer base and diversified the business mix with growth in personal and commercial insurance and workers compensation.
Suncorps recent acquisition of the Promina Group has further diversified its general insurance and financial services businesses, operating throughout Australia and New Zealand.
The Group also has a 50% share in RACQ Insurance Limited and RAA Insurance Limited, with the major motor clubs, RACQ (Qld) and RAA (SA).
Suncorp is the market leader in Queensland in Compulsory Third Party insurance, a major force in motor insurance and home and contents insurance and number 2 in Agribusiness lending. Suncorp also has a strong market share in personal and commercial insurance lines nationally and in New Zealand.
Customers have access to 177 Suncorp retail outlets, including branches and agencies and 60 business banking outlets, predominantly in Queensland. There are also 33 GIO agencies in NSW and Victoria. Since the Promina acquisition, Suncorp has a total representation in 450 offices, branches and agencies throughout Australia and New Zealand.
Suncorp provides a range of banking and insurance products directly to customers through an extensive branch and agency network, call centre operations, on line facilities, and through intermediaries and corporate partners.
Suncorps banking contributed $307 million before tax for the half year to December 2007, up 6.2 percent from $289 million in the half year to December 2006.
The banking division has $69 billion in assets, making Suncorp Australias sixth largest bank.
There are 237 retail and business banking outlets spread mainly through Queensland, New South Wales and Victoria. The banking operations are divided between retail consumer banking and business banking, which caters predominantly for small to medium sized businesses.
More than 340,000 customers use the internet for their everyday banking needs such as paying bills, checking balances and transferring funds. Online enhancements include retail deposits, home, personal and small business loans and business banking, integrated margin lending, share trading and online cash management.
Retail Banking provides home and personal loans, savings and transaction accounts, margin lending, credit cards and foreign currency services to over 800,000 customers through 177 retail outlets, ATMs, 24-hour call centres and on-line banking.
Business Banking focuses on the needs of small to medium sized businesses and more than 76,000 customers. The division has lending assets of more than $23.7 billion and seven major areas of operation:
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