# SBK - Suncorp-Metway



## System (22 March 2014)

Suncorp-Metway Limited (SBK) provides banking, insurance, superannuation and funds management products and services to the retail, corporate and commercial sectors.

http://www.suncorpgroup.com.au


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## Julia (22 March 2014)

SBK???


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## piggybank (22 March 2014)




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## piggybank (22 March 2014)

You can also look at the ASX site for more details - http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=SBK


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## Julia (22 March 2014)

The original link just goes to the Suncorp Group, code SUN.

As I recall, the organisation used to be called Suncorp-Metway, but that changed some years ago.
Entering SBK on the ASX website is a dead end.

Perhaps I'm missing something obvious.
Also a bit mystified as to the purpose of the original post.


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## Ves (22 March 2014)

In 2010 Suncorp moved to a non-operating holding company (NOHC) structure.   There is an ASX announcement under the code SUN that explains it.  This was implemented to simplify the group structure and align the three main business segments, namely general insurance, banking and life insurance.

The holding company is called Suncorp Group Limited and is listed under the ASX code SUN.   My understanding is that the NOHC (Suncorp Group Limited) owns shares its subsidiaries. 

Suncorp Metway Limited is the banking arm.  After the restructure it no longer needed to hold an interest in the General Insurance Corp and the Life Group.   My understanding is that this simplifies its ability to meet APRA's capital adequacy requirements.

SBK is still listed on the ASX because of the various cumulative preference share and floating rate note issues.  I believe that these types of notes and preference shares need to be directly issued by the banking arm  (SBK) in order to be counted towards the banking arm's capital adequacy.   If SUN issued them in its own right they probably would not be counted by APRA as they could be freely used by the two insurance businesses by definition.

The current floating rates note issue by SBK can be found under SBKHB on the ASX.


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## piggybank (22 March 2014)

Ves said:


> In 2010 Suncorp moved to a non-operating holding company (NOHC) structure.   There is an ASX announcement under the code SUN that explains it.  This was implemented to simplify the group structure and align the three main business segments, namely general insurance, banking and life insurance.
> 
> The holding company is called Suncorp Group Limited and is listed under the ASX code SUN.   My understanding is that the NOHC (Suncorp Group Limited) owns shares its subsidiaries.
> 
> ...




Thanks for the explanation Ves. It appears you are correct in what you said as when I went on their site (SUN) I put SBK in the search facility and this is all what came out of it -  If you are a holder of Suncorp-Metway Preference shares (SBK)...

Hi Julia,
I am of the impression when a stock is listed on the ASX then "system" (who I presume is Joe) then kindly starts a new thread to let us know about it, as well as for us to post comments on it as time goes by!!

Regards
PB


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## System (30 July 2021)




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