Sydney – Following the sale of Citi's Australian consumer banking business to National Australia Bank (NAB) on June 1, 2022, Citigroup Pty Limited (CPL) requested that APRA revoke CPL's authorised deposit-taking institution (ADI) licence under the Banking Act 1959.
APRA has revoked CPL's ADI effective June 30, 2022. CPL continues to be licensed by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL).
Citi continues to provide a comprehensive range of advisory and financial services to corporates, banks, governments and institutional investors through CPL, Citigroup Global Markets Australia Pty Limited and Citibank N.A., Sydney Branch.
About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. In Australia, Citi provides corporations, governments and institutions with a broad range of financial products and services, including corporate advisory, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Media contact:
Jane Clapcott | jane.clapcott@citi.com | 0409 837 484
