APRA grants new authorised deposit-taking institution licence to Xinja Bank
The Australian Prudential Regulation Authority (APRA) has granted Xinja Bank Limited a licence to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959.
Xinja Bank Limited was previously licensed by APRA in December 2018 as a Restricted ADI.
An updated list of all APRA-authorised ADIs can be found on the APRA website at https://www.apra.gov.au/register-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 trillion in assets for Australian depositors, policyholders and superannuation fund members.