Suncorp Bank’s 3Q19 Update Uninspiring. FVE AUD 14.50 Unchanged
No-moat-rated Suncorp Group’s uninspiring third-quarter fiscal 2019 banking division results did not surprise. Sound asset quality and funding capacity were highlights, offset by a muted outlook on lending growth. There were no material developments that altered our long-term view of the regional bank and parent Suncorp Group. Nevertheless, pending the absence of any natural disasters in the near term, we would expect a slightly more positive outcome for Suncorp Bank’s fourth-quarter results, es...Suncorp Group is engaged in the general insurance, banking, life insurance, superannuation products and related services to the retail, corporate and commercial sectors. Co.'s segments are: Personal Insurance, which include home and contents insurance, motor insurance and travel insurance; Commercial Insurance, which include commercial motor insurance, commercial property insurance and marine insurance; General Insurance, which include home and contents insurance, motor insurance, marine insurance; Bank, which include personal and commercial banking; and Life, which include financial planning and funds administration services.
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