Barclays Granted License to Operate as Foreign ADI in Australia

Barclays yesterday announced that the Australian Prudential Regulatory Authority (APRA) has granted Barclays Bank PLC a licence to operate as a foreign authorised deposit-taking institution (ADI) in Australia. 

Australia is an important part of Barclays' 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.

"Australia offers tremendous growth opportunities and is an important financial services market in the region," said Jaideep Khanana, Head of Barclays in the Asia Pacific region. "This foreign ADI license strengthens our commitment to Australia, enabling us to proactively serve our clients on our global Corporate & Investment Banking platform and further support our cross-border growth ambitions."

"The ADI license granted to Barclays is an important step in demonstrating our commitment to Australia's financial markets to our clients," said Richard Thatchwell, Country CEO and Head of Investment Banking, Australia, Barclays. "Barclays has steadily gained momentum in our business over the past few years. In September 2020, we announced a strategic investment in Valenjoy Capital Partners, a strong trading pipeline a year later. Today's news on ADI licensing is another breakthrough news, with plans to deepen dialogue with clients in Australia and around the world looking for opportunities in Australia. Will accelerate further."

Barclays​ re-established its Australian office in 2018, providing local financing solutions to local clients. Barclays is an Asia Pacific corporate and investment bank with presence in key markets such as Australia, China / Hong Kong SAR, India, Japan and Singapore.