Barclays gets banking licence in Australia

Monday 20 December 2021 14:33 CET | News

UK-based Barclays has received approval from Australia's prudential regulator to operate as a foreign bank in the country.

In August Barclays had previously pumped money into its India arm to tap rising corporate and investment banking activity in the South Asian nation.

Barclays had re-established its Australia office in 2018 to provide wealth management services, and later invested in a domestic financial advisory firm which now has ‘a strong pipeline of transactions’, as the lender said.

Getting the foreign authorised deposit-taking institution (ADI) licence by the Australian Prudential Regulation Authority will speed up the bank's plans to provide investors access to the Pacific nation, it added. Barclays Bank Australia's branch in Sydney is expected to begin operating as a foreign bank branch by April 2022.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: banking license, Barclays, bank account, online banking
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech

Industry Events