APRA revokes Xinja licence
Mortgage Business 02 March 2021 The regulator has officially revoked Xinja’s banking licence, following the completion of its return of deposits. The Australian Prudential Regulation Authority (APRA) has revoked Xinja Bank Ltd’s authorised deposit-taking institution (ADI) licence. Last month, Xinja Bank completed its return of customer deposits and transferred the remaining tail of deposits to National Australia Bank (NAB) after making the shock announcement that it would hand back its banking licence and cease offering banki...