Suncorp lashes Labor on levy SUNCORP chief executive Patrick Snowball has ruled out major acquisitions and lashed Labor's proposed bank levy on deposits, as the insurance and banking group revealed it had $850 million of surplus capital. Yesterday Brisbane-based Suncorp reported a 32 per cent fall in net profit to $491m for the year to June 30, in line with guidance late last month of between $480m and $500m. As expected, profit was affected by the $632m loss from the sale of its so-called "bad bank" to Goldman Sachs, ending years of headaches for Mr Snowball and leaving Suncorp with its healthy "core" bank.