G&C Mutual Bank and Unity Bank in Australia have finalised their merger, creating a banking entity with A$3.8bn ($2.39bn) in assets.

Banking system integration is now complete, with the combination said to create even greater opportunities to sustain the “strong growth” of the two banks.

The merger follows regulatory clearance and member vote, representing the culmination of over 18 months of planning.

The merged entity will initially operate as G&C Mutual Bank, before rebranding to Unity Bank on 1 July 2025.

The G&C Mutual Bank, Unity Bank, and Reliance Bank brands will be maintained and unified under the Unity Bank brand over the coming 12 months.

The integration is said to offer members several benefits, including access to a wider branch network, and an enhanced product range with reduced fees.

Members will also have a greater capacity for technological investment and economies of scale.

Unity Bank CEO Danny Pavisic and G&C Mutual Bank CEO Rosanna Argall said: “Both organisations have always prioritised the needs of our members and the communities we serve, and this merger creates an even stronger platform for us to fulfil that mission.

“As we move forward together, we are excited to offer even greater benefits to our members and continue our legacy of trust, service, and community engagement.”

The two CEOs anticipate that the merger would position them as one of Australia’s “leading mutually owned banks”.

“Australia’s G&C Mutual Bank, Unity Bank formalise merger” was originally created and published by Retail Banker International, a GlobalData owned brand.

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