APRA revokes two banking licences

At the time of revocation, the bank had not launched any products.

The Australian Prudential Regulation Authority (APRA) has approved requests from International Bank of Australia and IBOA Group Holdings to revoke their licences.

International Bank of Australia had been operating as a restricted authorised deposit-taking institution (ADI), and IBOA Holdings as a non-operating holding company (NOHC), since receiving their licences in November 2022 under the Banking Act 1959.

At the time of revocation, International Bank of Australia had not launched any products, held no customer accounts, and had zero deposits. The revocation of the bank's restricted ADI licence does not affect its ability to apply for an ADI or restricted ADI licence in the future.

Follow the link for more news on

Australian Prudential Regulation Authority

license

Also Read

Hong Kong deposits see modest growth in August, up 1.1% YoY

Central banks of Thailand, Vietnam hold bilateral meeting

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit