APRA amends authorised deposit-taking institution licence for Avenue Bank to remove restrictions
The Australian Prudential Regulation Authority (APRA) has granted Avenue Bank Limited (Avenue) a licence to operate as an authorised deposit-taking institution (ADI) without restrictions under the Banking Act 1959.
Avenue was previously licensed by APRA in September 2021 as a Restricted ADI.
An updated list of all APRA-authorised ADIs can be found on the APRA website: Register of authorised deposit-taking institutions.
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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, mutuals, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding around $9 trillion in assets for Australian depositors, policyholders and superannuation fund members.