APRA revokes Citigroup’s banking licence

The Australian Prudential Regulation Authority (APRA) has revoked Citigroup Pty Limited’s (CPL’s) authorised deposit-taking institution (ADI) licence under the Banking Act 1959.

This determination follows the acquisition of CPL’s consumer banking business by National Australia Bank Limited (NAB) in June 2022, the subsequent transfer of CPL’s banking assets and liabilities to NAB and CPL’s request for the revocation.

An updated register of ADIs is available on the APRA website at: Register of authorised deposit-taking institutions.

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