Banking and insurance group Suncorp-Metway Ltd is assessing whether to sell its banking and wealth management operations.
"In light of the significant events in world financial markets over the last week and the Federal Government's constructive initiatives for the financial sector announced yesterday, Suncorp is assessing the implications for the potential sale of its banking and wealth management operation," it said.
"Suncorp expects to have discussions with carious partis and will provide an update to the market in due course," the Brisbane-based company said in a statement.
The announcement follows a report by Fairfax on Monday that Suncorp had shelved its plan to sell its banking and asset management businesses after it only received one bid from ANZ Banking Group Ltd.
Suncorp shares rose 47 cents, or 5.07 per cent, to $9.74 as of 1123 AEDT as the market as a whole gained.