Car Loans Australia
Private & Commercial Car Loans for New & Used Vehicles
Car Loans Australia :: News
SHARE

Share this news item!

APRA Ends International Bank of Australia's Restricted Licence

APRA Ends International Bank of Australia's Restricted Licence

APRA Ends International Bank of Australia's Restricted Licence?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian Prudential Regulation Authority (APRA) has complied with a request by International Bank of Australia Pty Limited to terminate its restricted licence as an authorised deposit-taking institution (ADI).
Similarly, IBOA Group Holdings Pty Ltd (IBOA Holdings) has rescinded its status as a non-operating holding company (NOHC).
This information is according to a recent update from APRA's official channels.

Previously, in November 2022, APRA granted the licences under the Banking Act 1959, providing International Bank of Australia the restricted ADI status and offering IBOA Holdings NOHC credentials. Despite these opportunities, the bank never moved forward with launching any products, nor did it establish customer relationships or attract any deposits during this period.

The specific reasons behind International Bank of Australia’s decision to relinquish its restricted ADI licence remain speculative. However, industry experts suggest it could be a strategic shift in focus or re-evaluation of the Australian market landscape. It is important to note that this decision does not close the door for any future applications the bank might make to re-enter the ADI or restricted ADI landscape.

This instance highlights a rare, yet noteworthy, event where a financial institution pulls back after initial regulatory approval but before market penetration. It provides a contrast to other emerging banks that take swift action post-approval to acquire market share and customer base.

For those keeping an eye on regulatory activities and ADI listings, APRA maintains updated records of all such authorised entities. The registers of authorised deposit-taking institutions and non-operating holding companies can be accessed openly on the APRA website. Financial services observers will find these registers an essential tool for staying updated on the operational status of various financial institutions.

Published:Tuesday, 1st Oct 2024
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

Share this news item:

Rate this article

Sign in with Google to rate

0 Comments

No comments yet. Be the first to share your thoughts.

Finance News

What the 2026 Car Loan Awards Mean for Australian Buyers
What the 2026 Car Loan Awards Mean for Australian Buyers
25 Jun 2026: Paige Estritori
The latest 2026 personal and car loan awards from Mozo point to a clear message for Australian motorists: the lowest-cost car finance may not come from the lender you already bank with. The awards assessed hundreds of personal and vehicle loan products across dozens of lenders, with categories covering new car loans, used car loans, secured personal loans, excellent-credit borrowers and green car finance. - read more
RBA Maintains Cash Rate at 4.35% in June 2026 Decision
RBA Maintains Cash Rate at 4.35% in June 2026 Decision
11 Jun 2026: Paige Estritori
In its June 2026 meeting, the Reserve Bank of Australia (RBA) decided to hold the cash rate steady at 4.35%. This unanimous decision reflects the central bank's cautious approach amid ongoing economic uncertainties and inflationary pressures. - read more
EOFY 2026: Unmissable Ute Deals and Tax Insights
EOFY 2026: Unmissable Ute Deals and Tax Insights
11 Jun 2026: Paige Estritori
As the end of the financial year (EOFY) approaches, Australian car buyers have a unique opportunity to take advantage of significant discounts and tax benefits on utes. Several manufacturers are offering compelling deals, making it an ideal time to consider a new vehicle purchase. - read more
Electric Vehicles Capture 20% of Australian New Car Market in May 2026
Electric Vehicles Capture 20% of Australian New Car Market in May 2026
04 Jun 2026: Paige Estritori
In May 2026, electric vehicles (EVs) achieved a significant milestone in Australia, accounting for 20% of all new car sales. This marks a substantial increase from previous months and underscores a growing shift towards sustainable transportation options among Australian consumers. - read more
2026 Subaru Solterra: More Range, Power, and Affordability
2026 Subaru Solterra: More Range, Power, and Affordability
04 Jun 2026: Paige Estritori
Subaru Australia has unveiled the 2026 Solterra, its updated electric SUV, featuring significant enhancements in range, power, and affordability. The new model is now available from $63,990 plus on-road costs, reflecting a substantial price reduction compared to its predecessor. - read more
Click for more Finance News


Car Loans Articles

Pre-purchase Checklist for Auto Buyers: Ensuring Financial Readiness
Pre-purchase Checklist for Auto Buyers: Ensuring Financial Readiness
Buying a car is an exciting milestone, but it's crucial to approach the process with a clear financial plan in place. Before you get swept away by the shiny showroom models or the thrill of a test drive, understanding the financial implications of purchasing a vehicle can save you from future stress and unwanted debt. Preparing before applying for a car loan is not just recommended; it's a necessary step that directly influences loan terms and your chances of approval. - read more
The Essential Guide to Securing Affordable Car Finance in Australia
The Essential Guide to Securing Affordable Car Finance in Australia
Finding an affordable car finance option can make the dream of owning a vehicle a tangible reality for many Australians. It’s about understanding the intricacies of the loan market, interest rates, and finding a plan that aligns with your financial prospects and constraints. In a society built on the convenience of mobility, securing a car that meets both your needs and your budget is essential. - read more
Your Car Loan Journey: From Application to Approval
Your Car Loan Journey: From Application to Approval
In this article, we are embarking on a guided journey that we believe will help immensely in navigating the intricacies of the car loan process. - read more
The Complete Checklist for Choosing a Car Loan Provider in Australia
The Complete Checklist for Choosing a Car Loan Provider in Australia
Finding the right car loan in Australia can be just as critical as selecting the car itself. Car finance, though a common undertaking, involves nuanced decisions that can have a significant impact on your financial future. - read more
Fixed vs. Variable Interest Rates: Which Car Loan is Right for You?
Fixed vs. Variable Interest Rates: Which Car Loan is Right for You?
Purchasing a car is a major financial decision for many Australians, and it often involves securing a loan. With numerous options available, navigating the car loan landscape can be overwhelming. Understanding your choices is essential for finding the loan that best suits your needs. - read more


Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.

Let's help find your car loan!

Loan Amount:
Postcode:
All quotes are provided obligation-free by a participating broker from our national referral partner network. We respect your Privacy.
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Derivative:
A financial security whose value is dependent upon or derived from an underlying asset or group of assets.


This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.
IMPORTANT: We act solely as an introducer and refer enquiries to licensed third-party brokers, insurers, and lenders. We do not provide financial product advice or credit assistance. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should independently verify the credentials and licensing of any adviser or provider you engage. Visit the ASIC website for further information.