Bank of Queensland (BOQ) has signed an all-cash deal to acquire Members Equity Bank (ME) for $1.325 billion. The move announced on Feb. 22 will see the Brisbane-based bank become the nation’s sixth-largest, giving it the scale in needs to challenge the four big banks in Australia—the National Australia Bank, the Commonwealth Bank, the ANZ…

Bank of Queensland (BOQ) has signed an all-cash deal to acquire Members Equity Bank (ME) for about $1.3 billion (US$1.03 billion). Announced on Feb. 22, the deal will see the BOQ emerge as a nation’s sixth-largest bank, giving it the scale it needs to challenge the big four—NAB, CommBank, ANZ, and Westpac. The acquisition was…