Finance Australia :: News
SHARE

Share this news item!

APRA Ends International Bank of Australia's Restricted Licence

APRA Ends International Bank of Australia's Restricted Licence

APRA Ends International Bank of Australia's Restricted Licence?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian Prudential Regulation Authority (APRA) has complied with a request by International Bank of Australia Pty Limited to terminate its restricted licence as an authorised deposit-taking institution (ADI).
Similarly, IBOA Group Holdings Pty Ltd (IBOA Holdings) has rescinded its status as a non-operating holding company (NOHC).
This information is according to a recent update from APRA's official channels.

Previously, in November 2022, APRA granted the licences under the Banking Act 1959, providing International Bank of Australia the restricted ADI status and offering IBOA Holdings NOHC credentials. Despite these opportunities, the bank never moved forward with launching any products, nor did it establish customer relationships or attract any deposits during this period.

The specific reasons behind International Bank of Australia’s decision to relinquish its restricted ADI licence remain speculative. However, industry experts suggest it could be a strategic shift in focus or re-evaluation of the Australian market landscape. It is important to note that this decision does not close the door for any future applications the bank might make to re-enter the ADI or restricted ADI landscape.

This instance highlights a rare, yet noteworthy, event where a financial institution pulls back after initial regulatory approval but before market penetration. It provides a contrast to other emerging banks that take swift action post-approval to acquire market share and customer base.

For those keeping an eye on regulatory activities and ADI listings, APRA maintains updated records of all such authorised entities. The registers of authorised deposit-taking institutions and non-operating holding companies can be accessed openly on the APRA website. Financial services observers will find these registers an essential tool for staying updated on the operational status of various financial institutions.

Published:Tuesday, 1st Oct 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

IMB Bank Recognised as Australia's Leading Personal Loan Provider in 2026
IMB Bank Recognised as Australia's Leading Personal Loan Provider in 2026
09 Mar 2026: Paige Estritori
In a significant achievement, IMB Bank has been named Australia's Best Personal Loan lender for 2026 by Mozo, a leading financial comparison platform. This marks the second consecutive year that IMB Bank has secured this prestigious title, underscoring its consistent commitment to providing exceptional value in personal lending. - read more
APRA's New Debt-to-Income Cap Aims to Curb High-Risk Mortgage Lending
APRA's New Debt-to-Income Cap Aims to Curb High-Risk Mortgage Lending
09 Mar 2026: Paige Estritori
The Australian Prudential Regulation Authority (APRA) has announced a significant policy change aimed at mitigating risks associated with high debt-to-income (DTI) mortgage lending. Effective from 1 February 2026, APRA will enforce a cap, limiting banks to allocating no more than 20% of new mortgages to borrowers whose total debt exceeds six times their income. - read more
Record Surge in Investor Lending Raises Regulatory Concerns
Record Surge in Investor Lending Raises Regulatory Concerns
09 Mar 2026: Paige Estritori
Recent data from the Australian Prudential Regulation Authority (APRA) indicates a significant surge in investor lending, with new investment loans totalling $72 billion in the September quarter of 2025. This marks a 12% increase from the previous quarter, highlighting a robust appetite among investors for property acquisitions. - read more


Finance Articles

The Road to Recovery: How to Rebuild Your Credit for Future Loans
The Road to Recovery: How to Rebuild Your Credit for Future Loans
In today’s economy, a good credit score is more than just a number—it's a pivotal element of financial health that can open doors to necessary funding when it's most needed. Whether it's for purchasing a new home, investing in a business, or obtaining personal loans, a robust credit score in Australia is your ticket to favorable interest rates and loan terms. - read more
The Role of Business Insurance in Protecting Your Australian Enterprise
The Role of Business Insurance in Protecting Your Australian Enterprise
Starting and running a business in Australia can be an exhilarating experience, full of opportunities for growth and success. However, it also comes with its fair share of risks and uncertainties. From unexpected natural disasters to potential legal disputes, the threats to the sustainability of a business are ever-present. This is where business insurance becomes pivotal as a protective tool for Australian enterprises. It provides the much-needed safety net to help businesses mitigate potential losses and continue operations with confidence. - read more
Creating a Bulletproof Budget: Tips for Australians Juggling Debts
Creating a Bulletproof Budget: Tips for Australians Juggling Debts
Creating a sturdy financial foundation is essential for Australians navigating the often turbulent waters of debt. A bulletproof budget does more than just track expenses; it acts as a buffer against unexpected financial downturns and provides a clear path toward financial freedom. Comprehending the full weight of this importance is the first step to turning one's financial destiny around. - read more


Free Loan Eligibility Assessment

Loan Amount:
Postcode:

All quotes are provided free and without obligation by a specialist from our national broker referral panel. See our privacy statement for more details.


Knowledgebase
Second Mortgage:
A type of subordinate mortgage made while an original mortgage is still in effect.