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Regional Australia Bank, Holiday Coast CU in merger talks

Regional Australia Bank Ltd. and Holiday Coast CU Ltd. entered into discussions for a potential merger.

If a deal pushes through, the combined entity will have an asset size of over A$2 billion, according to a Nov. 4 announcement. The parties will now start the due diligence process and once approval is received from both the Australian Prudential Regulation Authority and their respective members, a formal merger is expected to be completed by June 30, 2019.