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

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

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 IMF has urged Australia to consider reforms around housing supply and lending standards, citing apprehension around the upsurge in prope...

Treasurer Josh Frydenberg has backed the net-zero emissions by 2050 target, warning failure to comply will hurt banks’ access to capital a...

The regulator is set to release information setting out how it would use macroprudential policy tools, after expressing concerns around the ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

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.