Lloyds becomes Australian ADI
Iconic British banking brand Lloyds has formally extended its presence in Australia by becoming licensed as an authorised deposit-taking institution (ADI).
Lloyds TSB Bank announced today that it had launched an Australian branch after gaining regulatory approvals and licensing from the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority to become an ADI.
The bank will trade under the name Lloyds TSB Corporate Markets and will provide future funding, liquidity and derivatives requirements for a number of Lloyds Banking group companies already in Australia, including BOS International (Australia) Limited and Capital Finance Australia Limited.
AUTHOR
Mike Taylor
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
