subscribe to our newsletter

Bank granted foreign ADI licence

APRA has granted a new foreign authorised deposit-taking institution licence to an Italian banking group.

The Australian Prudential Regulation Authority (APRA) has granted Intesa Sanpaolo SPA a licence to operate as a foreign authorised deposit-taking institution (ADI) under the Banking Act 1959.

The Intesa Sanpaolo Group has a market capitalisation of €37.4 billion, approximately 14.6 million customers and more than 6,000 branches worldwide.

It covers retail and corporate banking (including mortgage lending), as well as wealth management.

While the vast majority of its branches are based in Italy, it also has more than 800 across Europe, more than 170 in Africa, and several across Asia and two in the USA.  



With the granting of an authority to carry on a banking business in Australia, it is able to open a branch in Australia.

It has become the 22nd bank to be granted a licence to operate as a foreign ADI by APRA, and the first foreign ADI licence granted since APRA resumed licensing in August of this year.

[Related: APRA resumes issuing banking licences]

Bank granted foreign ADI licence
Bank granted foreign ADI licence

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The digital property settlements platform has appointed independent company directors to its board as it expects to begin trading on the ASX...

A report has called for a royal commission and the Reserve Bank to address soaring house prices, warning that the Australian property market...

Auction volumes were lower last week amid ongoing lockdown restrictions in Melbourne and a long weekend in several states and territories, a...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.