Police & Nurses Limited (PNL) has concluded its evaluation of the potential merger with Great Southern Bank announced in September 2025 and has decided not to proceed, with both Boards mutually agreeing to terminate the Memorandum of Understanding.
The PNL Board determined that progressing the merger would not be in the best interests of its customers.
At PNL’s October 2025 AGM, Chair Gary Humphreys assured customers that the Board would only recommend a merger if it was in their best interests.
“While we will not be progressing this opportunity, we assessed the potential merger holistically and I am confident we have made the right decision,” Humphreys said.
There is no impact on P&N Bank or BCU Bank customers, employees, or day-to-day operations. All accounts, services, branches, and call centres continue to operate as normal.
PNL remains operationally strong and secure in its current state having delivered a particularly strong first half year performance.