Bank of Queensland announces it will buy industry fund-backed ME Bank for $1.325bn

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(news.com.au)

Bank of Queensland has confirmed it will fully acquire industry fund-owned ME Bank in an attempt to scale up its retail banking offering and diversify into new regions of the country. 

In a statement lodged to the Australian Stock Exchange on Monday, the regional bank announced it would take full ownership of ME Bank through a landmark deal worth $1.325bn.

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