Barclays gets Australian banking license

Barclays Bank PLC Australia Branch is targeted to go-live as a foreign bank branch locally in April 2022

Barclays

Barclays gets Australian banking license. Source: pexels.com

The Australian Prudential Regulation Authority (APRA) has authorised Barclays Bank PLC to operate as a foreign authorised deposit-taking institution in Australia.

According to the press release, Australia is an important part of the bank’s growth plans in the region.

Establishing the branch in Sydney is a key milestone in growing the bank’s client base and enabling it to deliver more to its Australian corporate and institutional clients.

Under the leadership of Richard Satchwell, Country CEO and Head of Investment Banking, Australia, Barclays has been a leader locally in the Australian leveraged finance market. The bank successfully

re-established its place amongst the strongest banks for offshore capital markets issuance and played an active role in offering Environmental, Social, and Corporate Governance solutions, as well as supporting key clients across their acquisition financing requirements.

Richard will continue to lead Barclays’ Australia growth initiatives and build further upon the momentum with its local strategic partner, Barrenjoey Capital Partners.

The ADI license granted to Barclays is an important step in demonstrating to clients our commitment to the Australian financial market. Barclays has built momentum steadily in our business over the past few years. We announced our strategic investment in Barrenjoey Capital Partners in September 2020, and are already seeing results of the investment with a strong pipeline of transactions one year on. Today’s news on the ADI license is another landmark and will further accelerate our plans to deepen the dialogue with Australian and global clients looking for opportunities in Australia
Richard Satchwell, Country CEO and Head of Investment Banking, Australia

Barclays re-established its Australia office in 2018 and has been providing global financing solutions to local clients. Barclays is a corporate and investment bank in Asia Pacific and is present in key markets including Australia, China/Hong Kong SAR, India, Japan and Singapore.

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