Australian bank Westpac has made a 15bn Australian dollar (Ј7.2bn; $14.1bn) offer for its rival St George Bank.
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The enlarged firm would be able to compete more effectively said Westpac's chief executive Gail Kelly, who was also formerly boss at St George.
It would offer chances for savings and greater access to funding, she added.
However, a takeover would probably need regulatory approval if it were to go ahead.
Westpac is Australia's fourth-biggest bank, while St George is the fifth largest.
The merged bank would also become the country's largest mortgage lender - with a market share of about 25%.
Analysts suggest that it may lead to the top three banks looking to reinforce their advantage by also purchasing regional banks.
(BBC)
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