The Australian Prudential Regulation Authority (APRA) today announced it has granted IN1Bank Ltd a licence to operate as a restricted authorised deposit-taking institution (Restricted ADI) under the Banking Act 1959.
An updated list of all APRA-authorised ADIs can be found on the APRA website at: Register of authorised deposit-taking institutions.
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 $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.