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APRA extends IN1Bank’s licence to operate as a restricted authorised deposit-taking institution

Wednesday 14 September 2022

The Australian Prudential Regulation Authority (APRA) has granted IN1Bank Ltd a second extension of its licence to operate for a limited time as a restricted authorised deposit-taking institution (Restricted ADI) under the Banking Act 1959. 

Recognising the unique circumstances of IN1Bank’s application, APRA judged that a further short extension was warranted. APRA does not view this decision as setting a precedent for other future Restricted ADIs. APRA will consider any possible extension of another Restricted ADI’s licence on its own merits as the need arises.

An updated list of all APRA-authorised ADIs can be found on the APRA website at: Register of authorised deposit-taking institutions.

Media enquiries

Contact APRA Media Unit, on +61 2 9210 3636

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For more information contact APRA on 1300 558 849.

The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $7.9 trillion in assets for Australian depositors, policyholders and superannuation fund members.