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Alex Bank successful in application for new banking licence

Global law firm Ashurst has advised Alex Bank Pty Ltd on its successful application to APRA to become a restricted authorised deposit-taking institution (ADI).

July 16, 2021 • By Emma Musgrave
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Alex Bank successful in application for new banking license
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Firm: Ashurst (Alex Bank Pty Ltd).

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Deal: Alex Bank Pty Ltd (Alex Bank) has been granted a licence from APRA to become a restricted authorised-deposit taking institution (ADI).

 
 

Value: N/A.

Area: Banking and finance.

Key players: The team advising Alex Bank was led by Ashurst partner Stuart Dullard, with support from Jason Maletic and Kenneth Tang.

Deal significance: As per a statement provided by Ashurst, this matter sees Alex Bank become the first applicant to be granted a banking licence since APRA placed a moratorium on the issue of banking licences following the onset of the COVID-19 pandemic.

“We are very privileged to have been a part of Alex Bank’s journey from very early on and are delighted to have advised Alex Bank on its successful application to APRA to become a restricted authorised deposit-taking institution,” said Ashurst lead partner Mr Dullard.

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“We congratulate the team at Alex Bank on achieving this tremendous milestone and on becoming a new player in the banking industry.”

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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