State of growth

Today the bank has 1.2 million customers – many in its home state of Queensland.

"To meet its potential, Queensland will need to keep growing its traditionally strong sectors like agriculture, resources and tourism – but also in new sectors like technology.”

Suncorp Bank has played a significant role in the life of many Queenslanders, whether in the first homes it funded, businesses it kick-started or family nest-eggs it helped shape over generations.

Queenslanders know they have a robust future ahead. Nationally, the state has been the fastest growing domestic economy over the past two decades and has been the nation’s largest interstate migration destination.

To meet its potential, Queensland will need to keep growing its traditionally strong sectors like agriculture, resources and tourism – but also in new sectors like technology. And we know how to help realise that.

Very critically, we believe ANZ – the Australian bank with the deepest ties to the thriving Asia Pacific region – can help Queensland measure itself and flourish among the most vibrant economies in the world. And certainly, outperform Australia as a whole.

ANZ’s acquisition is the most significant financial boost Suncorp Bank has had in more than a hundred years of operations - this means customers will get the latest technology and security.

But the biggest changes for Queensland will come in the form of the capital investment we foster, including from our network in Asia, and the consistent partner we will be for the state.

Don’t be mistaken, this is already happening. For example, we are a major partner of Queensland’s resource sector and we are working very closely with our customers on the transition to net zero.

Bright future

This will only increase. ANZ – in partnership with the government, educators and the private sector – is making substantial investments in the state.

We know the future is bright for technology and the sector is a vital part in the broadening of Queensland’s economy. The state is increasingly producing technology graduates who must leave to find employment in other states.

Success for Queensland would be for these young people to remain in the state and for their knowledge to help build world-beating companies.

To help realise this goal we’ve started work to establish a major technology hub in Brisbane for specialists in digital, cloud and data services. Over a five-year period, we will place 700 people into this technology hub.

Queensland’s potential is so special as it is so varied. If new opportunities are seized – including supplying critical minerals and hydrogen or higher-value agriculture and seafood – Queensland can become the best-connected state to the richest trading region in the world.

This is an incredible opportunity. For generations of Queenslanders ahead, it could mean more secure, sustainable and higher-paying jobs. Modern housing in flourishing suburbs and regions.

An education which equips young Queenslanders for a different world. And the chance to be a part of these new opportunities without having to move interstate.

Like that Wallumbilla farmer who in 1902 was looking for someone to take a chance on him, Queenslanders today are seeking opportunities to build a better future.

It’s exciting to be a part of helping grasp that potential.

Shayne Elliott is the ANZ Chief Executive Officer