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APRA Revokes Bank of Nova Scotia’s Australian Banking Licence
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APRA Revokes Bank of Nova Scotia’s Australian Banking Licence
The Australian Prudential Regulation Authority has revoked the authorised deposit-taking institution licence of the Bank of Nova Scotia after the lender formally requested its removal as it exits the Australian banking market. In a brief notice published Monday, the regulator confirmed it had agreed to the bank’s request to surrender the licence, marking the latest step in the Canadian group’s withdrawal from parts of the Asia-Pacific region. A…
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